<SEC-DOCUMENT>0001567619-16-002064.txt : 20160322
<SEC-HEADER>0001567619-16-002064.hdr.sgml : 20160322
<ACCEPTANCE-DATETIME>20160322091634
ACCESSION NUMBER:		0001567619-16-002064
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		115
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160322
DATE AS OF CHANGE:		20160322

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:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33869
		FILM NUMBER:		161520071

	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>20-F
<SEQUENCE>1
<FILENAME>s001237x1_20f.htm
<DESCRIPTION>FORM 20-F
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES</B></FONT><BR>
<FONT STYLE="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM 20-F</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings"><B>&#111;</B></FONT></TD><TD><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12 (G) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0"></TD>
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the fiscal year ended December 31,
2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings"><B>o</B></FONT></TD><TD><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the transition period from _____________
to __________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings"><B>o</B></FONT></TD><TD><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of event requiring this shell company
report</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission file number <B>001-33869</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 24pt"><B>STAR BULK
CARRIERS CORP.</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Exact name of Registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of Registrant&#146;s name
into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Republic of the Marshall Islands</B><BR>
(Jurisdiction of incorporation or organization)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Star Bulk Management Inc., 40 Agiou
Konstantinou Str., Maroussi 15124, Athens, Greece</B><BR>
(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Petros Pappas, 011 30 210 617 8400, mgt@starbulk.com,</B><BR>
<B>c/o Star Bulk Management Inc., 40 Agiou Konstantinou Str.</B><BR>
<B>Maroussi 15124, Athens, Greece</B><BR>
(Name, telephone, email and/or facsimile number and address of Company Contact Person)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered or to be registered pursuant to Section
12(b) of the Act.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font-size: 10pt; width: 80%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Name of exchange on which registered</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Common Shares, par value $0.01 per share</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Nasdaq Global Select Market</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">8.00% Senior Notes due 2019</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Nasdaq Global Select Market</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered or to be registered pursuant to Section
12(g) of the Act: <B>None.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities for which there is a reporting obligation pursuant
to Section 15(d) of the Act: <B>None.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate the number of outstanding shares of each of the issuer&#146;s
classes of capital or common stock as of the close of the period covered by the annual report: <B>As of</B> <B>December 31, 2015,
there were 219,105,712 common shares of the registrant outstanding.&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is a well-known seasoned
issuer, as defined in Rule 405 of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Wingdings">o</FONT>
Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT>
No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this report is an annual report or transition report, indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT> Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x
</FONT>No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant (1) has 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 the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT> Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o
</FONT>No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit
and post such files). <FONT STYLE="font-family: Wingdings">x</FONT> Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT>
No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Large accelerated filer <FONT STYLE="font-family: Wingdings">o</FONT>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accelerated
filer <FONT STYLE="font-family: Wingdings">x</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-accelerated
filer <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark which basis of accounting the registrant
has used to prepare the financial statements included in this filing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 10pt">U.S. GAAP <FONT STYLE="font-family: Wingdings">x</FONT></FONT></TD>
    <TD STYLE="width: 67%; text-align: center"><FONT STYLE="font-size: 10pt">International Financial Reporting Standards as issued by the
    International Accounting Standards <FONT STYLE="font-size: 10pt">Board <FONT STYLE="font-family: Wingdings">o</FONT></FONT></FONT> </TD>
    <TD STYLE="width: 13%"><FONT STYLE="font-size: 10pt">Other <FONT STYLE="font-family: Wingdings">o</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If &#147;Other&#148; has been checked in response to the previous
question, indicate by check mark which financial statement item the registrant has elected to follow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Wingdings">o</FONT>
Item 17 or <FONT STYLE="font-family: Wingdings">o</FONT> Item 18.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If this is an annual report, indicate by check mark whether
the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<FONT STYLE="font-family: Wingdings">o
</FONT>Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x
</FONT>No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Carriers
Corp. and its wholly owned subsidiaries (the &#147;Company&#148;) desire to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and are including this cautionary statement in connection with this safe harbor
legislation. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements
in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements,
which are other than statements of historical facts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This document includes
&#147;forward-looking statements,&#148; as defined by U.S. federal securities laws, with respect to our financial condition,
results of operations and business and our expectations or beliefs concerning future events. Words such as, but not limited to,
&#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;intend,&#148; &#147;plan,&#148;
&#147;targets,&#148; &#147;projects,&#148; &#147;likely,&#148; &#147;would,&#148; &#147;could&#148; and similar expressions
or phrases may identify forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All forward-looking
statements involve risks and uncertainties. The occurrence of the events described, and the achievement of the expected results,
depend on many events, some or all of which are not predictable or within our control. Actual results may differ materially from
expected results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, important
factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements
include:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">general dry bulk shipping market conditions, including fluctuations in charterhire rates and vessel
values;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the strength of world economies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the stability of Europe and the Euro;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">fluctuations in interest rates and foreign exchange rates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in demand in the dry bulk shipping industry, including the market for our vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in our operating expenses, including bunker prices, dry docking and insurance costs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in governmental rules and regulations or actions taken by regulatory authorities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">potential liability from pending or future litigation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">general domestic and international political conditions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">potential disruption of shipping routes due to accidents or political events;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the availability of financing and refinancing;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our ability to meet requirements for additional capital and financing to complete our newbuilding
program and grow our business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the impact of our indebtedness and the restrictions in our debt agreements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel breakdowns and instances of off-hire;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">risks associated with vessel construction;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">potential exposure or loss from investment in derivative instruments;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">potential conflicts of interest involving our Chief Executive Officer, his family and other members
of our senior management; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">other important factors described in &#147;Risk Factors&#148;.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have based these
statements on assumptions and analyses formed by applying our experience and perception of historical trends, current conditions,
expected future developments and other factors we believe are appropriate in the circumstances. All future written and verbal forward-looking
statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. We undertake no obligation, and specifically decline any obligation, except as required
by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this prospectus might not occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See the sections entitled
&#147;Risk Factors&#148; of this Annual Report on Form 20-F for the year ended December 31, 2015 for a more complete discussion
of these risks and uncertainties and for other risks and uncertainties. These factors and the other risk factors described in this
prospectus are not necessarily all of the important factors that could cause actual results or developments to differ materially
from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could harm our results.
Consequently, there can be no assurance that actual results or developments anticipated by us will be realized or, even if substantially
realized, that they will have the expected consequences to, or effects on, us. Given these uncertainties, prospective investors
are cautioned not to place undue reliance on such forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>PART I.</B> </FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 1.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Identity of Directors, Senior Management and Advisers</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 2.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Offer Statistics and Expected Timetable</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 3.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Key Information</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 4.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Information on the Company</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">33</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 4A.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Unresolved Staff Comments</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">58</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 5.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Operating and Financial Review and Prospects</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">58</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 6.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Directors, Senior Management and Employees</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">87</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 7.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Major Shareholders and Related Party Transactions</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">94</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 8.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Financial Information</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">110</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 9.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">The Offer and Listing</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">113</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 10.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Additional Information</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">113</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 11.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Quantitative and Qualitative Disclosures about Market Risk</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">124</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 12.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Description of Securities Other than Equity Securities</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">127</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>PART II.</B></FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">128</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 13.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Defaults, Dividend Arrearages and Delinquencies</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">128</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 14.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Material Modifications to the Rights of Security Holders and Use of Proceeds</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">128</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 15.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Controls and Procedures</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">128</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16A.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Audit Committee Financial Expert</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">129</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16B.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Code of Ethics</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">129</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16C.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Principal Accountant Fees and Services</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">129</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16D.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Exemptions from the Listing Standards for Audit Committees</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">129</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16E.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Purchases of Equity Securities by the Issuer and Affiliated Purchasers</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">129</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16F.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Change in Registrants Certifying Accountant</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">130</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16G.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Corporate Governance</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">130</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 16H.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Mine Safety Disclosure</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">131</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>PART III.</B></FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">131</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 17.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Financial Statements</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">131</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 18.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Financial Statements</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">131</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Item 19.</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD>
    <TD STYLE="text-align: right; text-indent: 0pt"><FONT STYLE="font-size: 10pt">131</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>PART
I.</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 1.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Identity of Directors, Senior Management and Advisers</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 2.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Offer Statistics and Expected Timetable</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 3.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Key Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Throughout this report,
the &#147;Company,&#148; &#147;Star Bulk,&#148; &#147;we,&#148; &#147;us&#148; and &#147;our&#148; all refer to Star
Bulk Carriers Corp. and its wholly owned subsidiaries. We use the term deadweight ton (&#147;dwt&#148;) in describing the size
of vessels. Dwt, expressed in metric tons, each of which is equivalent to 1,000 kilograms, refers to the maximum weight of cargo
and supplies that a vessel can carry. We own, operate, have under construction and provide vessel management services to dry bulk
vessels of eight sizes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD>Newcastlemax, which are vessels with carrying capacities of between 200,000 dwt and 210,000 dwt;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD>Capesize, which are vessels with carrying capacities of between 100,000 dwt and 200,000 dwt;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD>Post Panamax, which are vessels with carrying capacities of between 90,000 dwt and 100,000 dwt;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD>Kamsarmax, which are vessels with carrying capacities of between 80,000 dwt and 90,000 dwt;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">5.</TD><TD>Panamax, which are vessels with carrying capacities of between 65,000 and 80,000 dwt;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">6.</TD><TD>Ultramax, which are vessels with carrying capacities of between 60,000 and 65,000 dwt;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.</TD><TD>Supramax, which are vessels with carrying capacities of between 50,000 and 60,000 dwt; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">8.</TD><TD>Handymax, which are vessels with carrying capacities of between 40,000 and 50,000 dwt.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise indicated, all references
to &#147;Dollars&#148; and &#147;$&#148; in this report are to U.S. Dollars and all references to &#147;Euro&#148; and &#147;&euro;&#148;
in this report are to Euros.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 11, 2014, pursuant
to an Agreement and Plan of Merger (as amended from time to time, the &#147;Merger Agreement&#148;), dated as of June 16, 2014,
among Star Bulk, two of our merger subsidiaries, Oaktree OBC Holdings LLC (the &#147;Oaktree Holdco&#148;), Millennia Limited
Liability Company (the &#147;Pappas Holdco&#148;), Oaktree Dry Bulk Holdings LLC (the &#147;Oaktree Seller&#148;) and Millennia
Holdings LLC (the &#147;Pappas Seller&#148; and, together with the Oaktree Seller, the &#147;Sellers&#148;), the parties thereto
completed a transaction that resulted in a merger (the &#147;Merger&#148;) of the Oaktree Holdco and the Pappas Holdco into our
two merger subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Oaktree Holdco
and the Pappas Holdco were the equity holders of Oceanbulk Shipping LLC (&#147;Oceanbulk Shipping&#148;) and Oceanbulk Carriers
LLC (&#147;Oceanbulk Carriers&#148; and, together with Oceanbulk Shipping, &#147;Oceanbulk&#148;). Oceanbulk owned and operated
a fleet of 12 dry bulk carrier vessels and owned contracts for the construction of 25 newbuilding dry bulk fuel-efficient Eco-type
vessels at shipyards in Japan and China. The consideration paid by us in the Merger to the Sellers was 48,395,766 common shares.
Of these 25 newbuilding vessels, 12 have been delivered to us, two that were subject to a bareboat lease agreement have been reassigned
back to their vessel owners, while we have sold five (of which one is still under construction) to separate third-parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Merger Agreement
also provided for the acquisition (the &#147;Heron Transaction&#148;) by us of two Kamsarmax vessels (the &#147;Heron Vessels&#148;),
from Heron Ventures Ltd. (&#147;Heron&#148;), a limited liability company incorporated in Malta. We issued 2,115,706 of our common
shares into escrow as consideration for the Heron Vessels. In January 2015, the common shares were released from escrow to the
Sellers under the Merger Agreement, following the transfer of the Heron Vessels to us in December 2014. In addition to the issued
shares, in November 2014, we entered into a loan agreement with CiT Finance LLC for $25.3 million, to finance the cash consideration
related to the acquisition of the Heron Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, concurrently
with the Merger, we completed a transaction (the &#147;Pappas Transaction&#148;), in which we 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. Petros Pappas, our Chief Executive Officer. 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, <I>Indomitable (ex-HN 5016)</I>, which was delivered to us in January 2015. The consideration paid by us in the
Pappas Transaction was 3,592,728 common shares. Subsequently, in December 2015, we sold the <I>Tsu Ebisu</I> and the <I>Indomitable</I>
to separate third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We refer to the Merger,
the Heron Transaction and the Pappas Transaction collectively as the &#147;July 2014 Transactions&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the July 2014 Transactions, we increased the number of directors constituting our board of directors to nine and, following the
resignation of Ms. Milena-Maria Pappas as a director, appointed Mr. Rajath Shourie, Ms. Emily Stephens, Ms. Ren&eacute;e Kemp and
Mr. Stelios Zavvos as additional directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2015,
Mr. Rajath Shourie and Ms. Emily Stephens were replaced by Mr. Mahesh Balakrishnan and Ms. Jennifer Box, respectively. On March
14, 2016, Ms. Ren&eacute;e Kemp stepped down from our board of directors.</P>

<P STYLE="margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the July 2014 Transactions, Mr. Petros Pappas became our Chief Executive Officer, Mr. Hamish Norton became our President, Mr. Christos
Begleris became our Co-Chief Financial Officer, Mr. Nicos Rescos became our Chief Operating Officer and Ms. Sophia Damigou became
our Co-General Counsel. Mr. Spyros Capralos resigned as our Chief Executive Officer but remained with us as our Chairman, and Mr.
Zenon Kleopas (our former Chief Operating Officer) continues as our Executive Vice President&mdash;Technical Operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the July 2014 Transactions, we entered into a shareholders agreement with Oaktree and a shareholders agreement with Mr. Petros
Pappas and his children, Ms. Milena-Maria Pappas (our former director) and Mr. Alexandros Pappas, and entities affiliated to them
(&#147;Pappas Shareholders&#148;) (see &#147;Item 7. Major Shareholders and Related Party Transactions&mdash;B. Related Party
Transactions.&#148;). We also entered into an Amended and Restated Registration Rights Agreement among us, the Oaktree Seller,
the Pappas Shareholders, the Pappas Seller, Monarch and certain affiliates thereof (the &#147;Registration Rights Agreement&#148;).
For more information regarding the terms of the Registration Rights Agreement, see &#147;Item 7. Major Shareholders and Related
Party Transactions&mdash;B. Related Party Transactions.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 19, 2014,
we entered into definitive agreements with Excel Maritime Carriers Ltd. (&#147;Excel&#148;) pursuant to which we acquired 34
operating dry bulk vessels, consisting of six Capesize vessels, 14 Kamsarmax vessels, 12 Panamax vessels and two Handymax vessels
(the &#147;Excel Vessels&#148;). In the case of three Excel Vessels (<I>Star Martha</I>, <I>Star Pauline</I> and <I>Star Despoina</I>)
which were transferred subject to existing charters, we received the outstanding equity interests of the vessel-owning subsidiaries
that own those Excel Vessels (although all other assets and liabilities of such vessel-owning subsidiaries remained with Excel).
The transfers of the Excel Vessels were completed on a vessel-by-vessel basis, in general upon reaching port after their voyages
and cargoes were discharged. We refer to the foregoing transactions, together, as the &#147;Excel Transactions&#148;. The total
consideration for the Excel Transactions was 29,917,312 common shares (the &#147;Excel Vessel Share Consideration&#148;) and
$288.4 million in cash. On August 28, 2014, the Registration Rights Agreement was amended in conjunction with the Excel Transactions.
For more information regarding the terms of this amendment to the Registration Rights Agreement, see &#147;Item 7. Major Shareholders
and Related Party Transactions&mdash;B. Related Party Transactions.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We refer to the July
2014 Transactions and the Excel Transactions collectively, as the &#147;2014 Transactions&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the 2014 Transactions, we entered into, amended or assumed a number of credit facilities. See &#147;Item 5. Operating and Financial
Review and Prospects &ndash; B. Liquidity and Capital Resources &ndash; Senior Secured Credit Facilities&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 6, 2014,
we issued $50.0 million aggregate principal amount of 8.00% Senior Notes due 2019 (the &#147;2019 Notes&#148;). The 2019 Notes
mature in November 2019 and are senior, unsecured obligations of Star Bulk Carriers Corp. See &#147;Item 5. Operating and Financial
Review and Prospects &ndash; B. Liquidity and Capital Resources &ndash; 2019 Notes Offering&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 14, 2015,
we completed a primary underwritten public offering of 49,000,418 of our common shares, at a price of $5.00 per share (the &#147;January
2015 Equity Offering&#148;). The aggregate proceeds to us, net of underwriters&#146; commissions, were approximately $242.2 million,
raised primarily for our newbuilding program and general corporate purposes. Four of our significant shareholders, Oaktree Capital
Management L.P. (&#147;Oaktree&#148;), Angelo, Gordon &amp; Co. (&#147;Angelo, Gordon&#148;), Monarch Alternative Capital LP
(&#147;Monarch), and affiliates of the family of Mr. Petros Pappas, our Chief Executive Officer, purchased a total of 37,250,418
of the common shares in the January 2015 Equity Offering. See &#147;Item 5. Operating and Financial Review and Prospects &ndash;
B. Liquidity and Capital Resources &ndash; January 2015 Equity Offering.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 18, 2015, we
completed a primary underwritten public offering of 56,250,000 of our common shares, at a price of $3.20 per share (the &#147;May
2015 Equity Offering&#148;). The aggregate proceeds to us, net of underwriters&#146; commissions, were approximately $175.6 million,
raised primarily for our newbuilding program and general corporate purposes. Three of our significant shareholders, Oaktree, Monarch,
and affiliates of the family of Mr. Petros Pappas, our Chief Executive Officer, purchased a total of 21,562,500 of the common shares
in the May 2015 Equity Offering. See &#147;Item 5. Operating and Financial Review and Prospects &ndash; B. Liquidity and Capital
Resources &ndash; May 2015 Equity Offering.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Oaktree</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Oaktree is our largest
shareholder. Oaktree Capital Management, L.P., together with its affiliates, is a leader among global investment managers specializing
in alternative investments, with $97.4 billion in assets under management as of December 31, 2015. The firm emphasizes an opportunistic,
value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior
loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has
over 900 employees and offices in 17 cities worldwide. See &#147;Item 7 &#147;Major Shareholders and Related Party Transactions&#148;
for a discussion on the various limitations on the transfer and voting of our common shares by Oaktree.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Selected Consolidated Financial Data</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The table below summarizes
our recent financial information. We refer you to the notes to our consolidated financial statements for a discussion of the basis
on which our consolidated financial statements are presented. The information provided below should be read in conjunction with
&#147;Item 5. Operating and Financial Review and Prospects&#148; and the consolidated financial statements, related notes and
other financial information included herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the 15-for-1
reverse stock split effected on October 15, 2012, pursuant to which every fifteen common shares issued and outstanding were converted
into one common share, all share and per share amounts disclosed throughout this Annual report, in the table below and in our consolidated
financial statements have been retroactively updated to reflect this change in capital structure. Please see &#147;Item 4. Information
on the Company&mdash;History and Development of the Company&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The historical results
included below and elsewhere in this document are not necessarily indicative of the future performance of Star Bulk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.A.(i)&nbsp;CONSOLIDATED STATEMENT
OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(In thousands of U.S. Dollars, except
per share and share data)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Voyage revenues&#9;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">106,912</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">85,684</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">68,296</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">145,041</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">234,035</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Management fee income&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">153</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">478</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,598</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,346</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">251</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">107,065</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">86,162</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,894</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">147,387</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">234,286</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Voyage expenses&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,429</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,549</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,341</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,877</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Charter-in hire expense&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,025</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Vessel operating expenses&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,247</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,832</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,087</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,096</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112,796</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Dry docking expenses&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,096</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,519</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,363</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,950</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Depreciation&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,224</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,061</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,150</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82,070</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Management fees&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">158</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,436</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">General and administrative expenses&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,455</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,910</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,723</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,621</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Bad debt expense&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,139</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">215</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Impairment loss&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62,020</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">303,219</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">321,978</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">(Gain)/Loss on time charter agreement termination&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,010</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,454</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,114</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Other operational loss&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,050</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,226</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,125</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other operational gain&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,260</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,507</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,787</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,003</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(592</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Loss on sale of vessel&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,585</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Gain from bargain purchase&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(12,318</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">171,444</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">393,132</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">61,551</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">148,819</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">659,860</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Operating income / (loss)&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(64,379</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(306,970</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,343</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1,432</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(425,574</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Interest and finance costs&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,227</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,838</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,814</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,575</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29,661</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest and other income&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">744</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">246</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">629</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,090</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">(Loss) / gain on derivative instruments, net&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(390</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">91</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(799</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,268</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Loss on debt extinguishment&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(307</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(652</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(974</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total other expenses, net&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(5,180</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(7,551</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(6,493</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(10,397</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(32,813</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Income/ (Loss) Before Equity in Income of Investee&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(69,559</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(314,521</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,850</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,829</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(458,387</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Equity in income of investee&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">106</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">210</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Income / (Loss) before taxes&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(69,559</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(314,521</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,850</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(11,723</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(458,177</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income taxes&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net&nbsp;&nbsp;income / (loss)&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(69,559</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(314,521</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,850</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(11,723</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD><TD STYLE="padding-bottom: 2.5pt; border-bottom: Black 2.5pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(458,177</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; border-bottom: Black 2.5pt double">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Earnings / (loss) &nbsp;per share, basic&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14.69</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(58.32</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.13</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(0.20</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.34</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Earnings / (loss) per share, diluted&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14.69</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(58.32</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.13</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(0.20</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2.34</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average number of shares outstanding, basic&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,736,485</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,393,131</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,051,344</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,441,193</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">195,623,363</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Weighted average number of shares outstanding, diluted&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,736,485</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,393,131</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,116,389</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,441,193</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">195,623,363</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.A.(ii)&nbsp;CONSOLIDATED BALANCE SHEET
AND OTHER FINANCIAL DATA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>(In thousands of U.S. Dollars, except
per share data)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -8.65pt; padding-left: 8.65pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt; width: 35%">Cash and cash equivalents&#9;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">15,072</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">12,950</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">53,548</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">86,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">208,056</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Advances for vessels under construction and vessel acquisition&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,932</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">454,612</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">127,910</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Vessels and other fixed assets, net&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">638,532</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">291,207</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">326,674</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,441,851</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,757,552</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Total assets&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">717,928</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">354,706</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">468,088</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,062,084</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,164,883</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Current liabilities, including current portion of long-term debt, short term lease commitments and Excel Vessel Bridge Facility&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,154</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,450</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,734</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">140,198</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">190,098</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Total long-term debt including long term lease commitments and Excel Vessel Bridge Facility, excluding current portion&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">231,466</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">195,348</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172,048</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">715,308</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">786,478</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">8% 2019 Notes&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Common stock&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">291</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,094</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,191</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Stockholders&#146; equity&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">434,213</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">116,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266,106</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,154,302</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,135,358</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Total liabilities and stockholders&#146; equity&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">717,928</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">354,706</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">468,088</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,062,084</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,164,883</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -8.65pt; padding-left: 8.65pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -8.65pt; padding-left: 8.65pt">OTHER FINANCIAL DATA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -8.65pt; padding-left: 8.65pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Dividends declared and paid ($3.0, $0.68, $0.0, $0.0 and $0.0 per share, respectively) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,631</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Net cash provided by/(used in) operating activities&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,604</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,999</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,495</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,819</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,578</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Net cash provided by/(used in) investing activities&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(122,337</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,238</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(107,618</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(437,075</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(397,533</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Net cash provided by/(used in) financing activities&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,981</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(46,609</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,971</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">456,708</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">534,167</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -8.65pt; padding-left: 8.65pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -8.65pt; padding-left: 8.65pt">FLEET DATA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Average number of vessels (1) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.26</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.34</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28.88</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69.35</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Total ownership days for fleet (2) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,192</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,868</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,541</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,206</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Total available days for fleet (3) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,377</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,879</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,763</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,413</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,204</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Total voyage days for fleet (4) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,336</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,699</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,651</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,948</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,171</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Fleet utilization (5) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -8.65pt; padding-left: 8.65pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt"><B>AVERAGE DAILY RESULTS (In U.S. Dollars)</B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Time charter equivalent (6) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,989</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,419</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,427</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,161</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,063</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Vessel operating expenses (7) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,642</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,361</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,564</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,037</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,475</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">Management fees (8) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">335</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 36pt; text-indent: -36pt">General and administrative expenses (9) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,783</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,795</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,036</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">937</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Average number of vessels is the number of vessels that constituted our operating fleet (including charter-in vessels)
                                                            for the relevant period, as measured by the sum of the number of days all vessels were part of our operating fleet during the
                                                            period divided by the number of calendar days in that period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Ownership days are the total number of calendar days all vessels in our fleet were owned by us for the relevant period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Available days for the fleet are equal to the ownership and charter-in days minus off-hire days as a result of major repairs,
dry docking or special or intermediate surveys and lay-up days, if any.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Voyage days are equal to the total number of days the vessels were in our possession or chartered-in for the relevant period
minus off-hire days incurred for any reason (including off-hire for dry docking, major repairs, special or intermediate surveys,
or lay-up days, if any).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>Fleet utilization is calculated by dividing voyage days by available days for the relevant period. Ballast days for which a
charter is not fixed are not included in the voyage days for the fleet utilization calculation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(6)</TD><TD>Time charter equivalent rate (the &#147;TCE rate&#148;) represents the weighted average per day TCE rates of our entire operating
fleet. TCE rate is a measure of the average daily revenue performance of a vessel on a per voyage basis. 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&#146;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. We 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 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 may not be comparable to that reported by other companies.
For further information concerning our calculation of TCE rate and of reconciliation of TCE rate to voyage revenue, please see
&#147;Item 5. Operating and Financial Review and Prospects &ndash; A. Operating Results.&#148;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(7)</TD><TD>Average per day operating expenses per vessel are calculated by dividing vessel operating expenses by ownership days.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(8)</TD><TD>Average per day management fees per vessel are calculated by dividing vessel management fees by ownership days.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(9)</TD><TD>Average per day general and administrative expenses per vessel are calculated by dividing general and administrative expenses
by total ownership days for fleet.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Capitalization and Indebtedness</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Reasons for the Offer and Use of Proceeds</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">Risk factors</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following risks
relate principally to the industry in which we operate and our business in general. Other risks relate principally to the securities
market and ownership of our common stock. The occurrence of any of the events described in this section could significantly and
negatively affect our business, financial condition operating results or cash available for dividends or the trading price of our
common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Risks Related to Our Industry</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Charterhire rates for dry bulk vessels
are volatile and have declined significantly since their historic highs and may remain at low levels or further decrease in the
future, which may adversely affect our earnings, revenue and profitability and our ability to comply with our loan covenants.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The dry bulk shipping
industry is cyclical with high volatility in charterhire rates and profitability. The degree of charterhire rate volatility among
different types of dry bulk vessels has varied widely; however, the continued downturn in the dry bulk charter market has severely
affected the entire dry bulk shipping industry and charterhire rates for dry bulk vessels have declined significantly from historically
high levels. In the past, time charter and spot market charter rates for dry bulk carriers have declined below operating costs
of vessels. The BDI, a daily average of charter rates for key dry bulk routes published by the Baltic Exchange Limited, which has
long been viewed as the main benchmark to monitor the movements of the dry bulk vessel charter market and the performance of the
entire dry bulk shipping market, declined 94% in 2008 from a peak of 11,793 in May 2008 to a low of 663 in December 2008 and has
remained volatile since then. The BDI recorded a record low of 647 in February 2012. The BDI then increased from these low levels,
reaching 2,337 in December 2013. Subsequently, due to downward volatility, the BDI fluctuated and fell to 471 in December 2015.
The BDI has ranged from 290 to 473 from January until February 2016, with 290 being its all-time low. The dry bulk market remains
volatile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Fluctuations in charter
rates result from changes in the supply of and demand for vessel capacity and changes in the supply of and demand for the major
commodities carried by water internationally. Because the factors affecting the supply of and demand for vessels are outside of
our control and are unpredictable, the nature, timing, direction and degree of changes in industry conditions are also unpredictable.
Since we charter our vessels principally in the spot market, we are exposed to the cyclicality and volatility of the spot market.
Spot market charterhire rates may fluctuate significantly based upon available charters and the supply of and demand for seaborne
shipping capacity, and we may be unable to keep our vessels fully employed in these short-term markets. Alternatively, charter
rates available in the spot market may be insufficient to enable our vessels to operate profitably. A significant decrease in charter
rates would also affect asset values and adversely affect our profitability, cash flows and our ability to pay dividends, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Factors that influence
the demand for dry bulk vessel capacity include:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">supply of and demand for energy resources, commodities, consumer and industrial products;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in the exploration or production of energy resources, commodities, consumer and industrial
products;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the location of regional and global exploration, production and manufacturing facilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the location of consuming regions for energy resources, commodities, consumer and industrial products;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the globalization of production and manufacturing;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">global and regional economic and political conditions, including armed conflicts and terrorist
activities, embargoes and strikes;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">natural disasters;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">disruptions and developments in international trade;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in seaborne and other transportation patterns, including the distance cargo is transported
by sea;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">environmental and other regulatory developments;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">currency exchange rates; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">weather.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Factors that influence
the supply of dry bulk vessel capacity include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the number of newbuilding orders and deliveries including slippage in deliveries;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">number of shipyards and ability of shipyards to deliver vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">port and canal congestion;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the scrapping rate of vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">speed of vessel operation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel casualties; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the number of vessels that are out of service, namely those that are laid-up, dry docked, awaiting
repairs or otherwise not available for hire.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the
prevailing and anticipated freight rates, factors that affect the rate of newbuilding, scrapping and laying-up include newbuilding
prices, secondhand vessel values in relation to scrap prices, costs of bunkers and other operating costs, costs associated with
classification society surveys, normal maintenance costs, insurance coverage costs, the efficiency and age profile of the existing
dry bulk fleet in the market, and government and industry regulation of maritime transportation practices, particularly environmental
protection laws and regulations. These factors influencing the supply of and demand for shipping capacity are outside of our control,
and we may not be able to correctly assess the nature, timing and degree of changes in industry conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We anticipate that
the future demand for our dry bulk vessels will be dependent upon economic growth in the world&#146;s economies, including China
and India, seasonal and regional changes in demand, changes in the capacity of the global dry bulk fleet, including vessel scrapping
and ordering rates of newbuildings, and the sources and supply of dry bulk cargo to be transported by sea. Given the number of
new dry bulk carriers currently on order with the shipyards, the capacity of global dry bulk carrier fleet seems likely to increase
and there can be no assurance as to the timing or extent of future economic growth. Adverse economic, political, social or other
developments could have a material adverse effect on our business and operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Global economic conditions may continue
to negatively impact the dry bulk shipping industry.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the current global
economy, operating businesses have recently faced tightening credit, weakening demand for goods and services, weak international
liquidity conditions, and declining markets. Lower demand for dry bulk cargoes as well as diminished trade credit available for
the delivery of such cargoes have led to decreased demand for dry bulk carriers, creating downward pressure on charter rates and
vessel values. The relatively weak global economic conditions have and may continue to have a number of adverse consequences for
dry bulk and other shipping sectors, including, among other things:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">low charter rates, particularly for vessels employed on short-term time charters or in the spot
market;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">decreases in the market value of dry bulk vessels and limited secondhand market for the sale of
vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">limited financing for vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">widespread loan covenant defaults; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">declaration of bankruptcy by certain vessel operators, vessel owners, shipyards and charterers.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The occurrence of one
or more of these events could have a material adverse effect on our business, results of operations, cash flows and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The current state of global financial
markets and current economic conditions may adversely impact our ability to obtain financing or refinance our existing and future
credit facilities on acceptable terms, which may hinder or prevent us from operating or expanding our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Global financial markets
and economic conditions have been, and continue to be, volatile. These issues, along with significant write-offs in the financial
services sector, the re-pricing of credit risk and the current weak economic conditions, have made, and will likely continue to
make, it difficult to obtain additional financing. The current state of global financial markets and current economic conditions
might adversely impact our ability to issue additional equity at prices that will not be dilutive to our existing shareholders
or preclude us from issuing equity at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Also, as a result of
concerns about the stability of financial markets generally and the solvency of counterparties specifically, the cost of obtaining
money from the credit markets has increased as many lenders have increased interest rates, enacted tighter lending standards, refused
to refinance existing debt at all or on terms similar to current debt and reduced, and in some cases ceased, to provide funding
to borrowers. Due to these factors, we cannot be certain that financing will be available to the extent required, or that we will
be able to refinance our existing and future credit facilities, on acceptable terms or at all. If financing or refinancing is not
available when needed, or is available only on unfavorable terms, we may be unable to meet our obligations as they come due or
we may be unable to enhance our existing business, complete the acquisition of our newbuildings and additional vessel acquisitions
or otherwise take advantage of business opportunities as they arise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our vessels are exposed to the volatilities
of the dry bulk charter markets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dry bulk charter markets
experienced significant continued weakness in 2013, 2014 and 2015. As of February 29, 2016, we had 64 vessels employed in the
spot market, under short-term time charters or voyage charters and eight vessels on medium to long-term time charters scheduled
to expire from June 2016 until January 2018. The time charter market is highly competitive and spot rates (which affect time charter
rates) may fluctuate significantly based upon the supply of, and demand for, seaborne dry bulk shipping capacity. Our ability
to re-charter our vessels on the expiration or termination of their current time charters and the charter rates payable under
any renewal or replacement charters will depend upon, among other things, economic conditions in the dry bulk shipping market.
The dry bulk carrier charter market is volatile, and in the past, time charter and spot market charter rates for dry bulk carriers
have declined below operating costs of vessels. If we are required to charter these vessels at a time when demand and charter
rates are very low, we may not be able to secure employment for our vessels at all or at reduced and potentially unprofitable
rates. If we are unable to secure employment for our vessels, we may decide to lay-up some or all unemployed vessels until
such time that charter rates become attractive again. During the lay-up period, we will continue to incur some expenditures,
such as insurance and maintenance costs, for each such vessel. Additionally, before exiting lay-up, we will have to pay reactivation costs for any such vessel to regain its operational condition. As a result, our business, financial condition, results
of operations and cash flows, as well as our ability to pay dividends, if any, in the future, and compliance with covenants in
our credit facilities, may be affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The instability of the euro or the inability
of countries to refinance their debts could have a material adverse effect on our revenue, profitability and financial position.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of the
credit crisis in Europe, in particular in Greece, Italy, Ireland, Portugal and Spain, the European Commission created the European
Financial Stability Facility (the &#147;EFSF&#148;), and the European Financial Stability Mechanism (the &#147;EFSM&#148;),
to provide funding to Eurozone countries in financial difficulties that seek such support. In March 2011, the European Council
agreed on the need for Eurozone countries to establish a permanent stability mechanism, the European Stability Mechanism, which
was established on September 27, 2012 to assume the role of the EFSF and the EFSM in providing external financial assistance to
Eurozone countries. Despite these measures, concerns persist regarding the debt burden of certain Eurozone countries and their
ability to meet future financial obligations and the overall stability of the euro. An extended period of adverse developments
in the outlook for European countries could reduce the overall demand for dry bulk cargoes and for our services. These potential
developments, or market perceptions concerning these and related issues, could affect our financial position, results of operations
and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If economic conditions throughout the
world do not improve, it may negatively affect our results of operations, financial condition and cash flows, and may adversely
affect the market price of our common shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Negative trends in
the global economy that emerged in 2008 continue to adversely affect global economic conditions. In addition, the world economy
is currently facing a number of new challenges, recent turmoil and hostilities in various regions, including Syria, Iraq, North
Korea, North Africa and Ukraine. The weakness in the global economy has caused, and may continue to cause, a decrease in worldwide
demand for certain goods and, thus, shipping. Continuing economic instability could have a material adverse effect on our ability
to implement our business strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The United States,
the European Union and other parts of the world have recently been or are currently in a recession and continue to exhibit weak
economic trends. The credit markets in the United States and Europe have experienced significant contraction, deleveraging and
reduced liquidity, and the U.S. federal and state governments and European authorities have implemented and are considering a broad
variety of governmental action and/or new regulation of the financial markets and may implement additional regulations in the future.
Securities and futures markets and the credit markets are subject to comprehensive statutes, regulations and other requirements.
The SEC, other regulators, self-regulatory organizations and exchanges are authorized to take extraordinary actions in the event
of market emergencies, and may effect changes in law or interpretations of existing laws. Global financial markets and economic
conditions have been, and continue to be volatile. Credit markets and the debt and equity capital markets have been distressed
and the uncertainty surrounding the future of the global credit markets has resulted in reduced access to credit worldwide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We face risks attendant
to changes in economic environments, changes in interest rates, and instability in the banking and securities markets around the
world, among other factors. Major market disruptions and the current adverse changes in market conditions and regulatory climate
in the United States and worldwide may adversely affect our business or impair our ability to borrow amounts under credit facilities
or any future financial arrangements. The recent and developing economic and governmental factors, together with possible further
declines in charter rates and vessel values, may have a material adverse effect on our results of operations, financial condition
or cash flows, or the trading price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Continued economic
slowdown in the Asia Pacific region, particularly in China, may exacerbate the effect on us, as we anticipate a significant number
of the port calls made by our vessels will continue to involve the loading or discharging of dry bulk commodities in ports in the
Asia Pacific region. Before the global economic financial crisis that began in 2008, China had one of the world&#146;s fastest
growing economies in terms of GDP, which had a significant impact on shipping demand. The growth rate of China&#146;s GDP is estimated
to have decreased to approximately 6.9% for the year ended December 31, 2015, which is China&#146;s lowest growth rate for the
past five years, and continues to remain below pre-2008 levels. China has recently imposed measures to restrain lending, which
may further contribute to a slowdown in its economic growth, while it has announced plans to gradually transition from an investment
led growth model to a consumption driven economic growth model, which could lead to smaller demand for iron ore and other commodities.
This transition may take place over the span of a number of years, and there can be no assurance as to the time frame for such
a transformation or that any such transformation will occur at all.&nbsp;It is possible that China and other countries in the Asia
Pacific region will continue to experience slowed or even negative economic growth in the near future. Moreover, the current economic
slowdown in the economies of the United States, the European Union and other Asian countries may further adversely affect economic
growth in China and elsewhere. Our business, financial condition and results of operations, ability to pay dividends, if any, as
well as our future prospects, will likely be materially and adversely affected by a further economic downturn in any of these countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Changes in the economic and political
environment in China and policies adopted by the government to regulate its economy may have a material adverse effect on our business,
financial condition and results of operations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Chinese economy
differs from the economies of western countries in such respects as structure, government involvement, level of development, growth
rate, capital reinvestment, allocation of resources, bank regulation, currency and monetary policy, rate of inflation and balance
of payments position. Prior to 1978, the Chinese economy was a &#147;planned economy.&#148; Since 1978, increasing emphasis has
been placed on the utilization of market forces in the development of the Chinese economy. Annual and five year State Plans are
adopted by the Chinese government in connection with the development of the economy. Although state-owned enterprises still account
for a substantial portion of the Chinese industrial output, in general, the Chinese government is reducing the level of direct
control that it exercises over the economy through State Plans and other measures. There is an increasing level of freedom and
autonomy in areas such as allocation of resources, production, pricing and management and a gradual shift in emphasis to a &#147;market
economy&#148; and enterprise reform. Limited price reforms were undertaken with the result that prices for certain commodities
are principally determined by market forces. In addition, economic reforms may include reforms to the banking and credit sector
and may produce a shift away from the export-driven growth model that has characterized the Chinese economy over the past few decades.
Many of the reforms are unprecedented or experimental and may be subject to revision, change or abolition based upon the outcome
of such experiments. The level of imports to and exports from China could be adversely affected by the failure to continue market
reforms or changes to existing pro-export economic policies. The level of imports to and exports from China may also be adversely
affected by changes in political, economic and social conditions (including a slowing of economic growth) or other relevant policies
of the Chinese government, such as changes in laws, regulations or export and import restrictions, internal political instability,
changes in currency policies, changes in trade policies and territorial or trade disputes. A decrease in the level of imports to
and exports from China could adversely affect our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We conduct a substantial amount of business
in China. The legal system in China has inherent uncertainties that could have a material adverse effect on our business, financial
condition and results of operations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Chinese legal system
is based on written statutes and their legal interpretation by the Standing Committee of the National People&#146;s Congress.
Prior court decisions may be cited for reference but have limited precedential value. Since 1979, the Chinese government has been
developing a comprehensive system of commercial laws, and considerable progress has been made in introducing laws and regulations
dealing with economic matters such as foreign investment, corporate organization and governance, commerce, taxation and trade.
However, because these laws and regulations are relatively new, there is a general lack of internal guidelines or authoritative
interpretive guidance and because of the limited number of published cases and their non-binding nature, interpretation and enforcement
of these laws and regulations involve uncertainties. We conduct a substantial portion of our business in China or with Chinese
counter parties. For example, we enter into charters with Chinese customers, which charters may be subject to new regulations in
China. We may, therefore, be required to incur new or additional compliance or other administrative costs, and pay new taxes or
other fees to the Chinese government. In addition, a number of our newbuilding vessels are being built at Chinese shipyards. Changes
in laws and regulations, including with regards to tax matters, and their implementation by local authorities could affect our
vessels that are either chartered to Chinese customers or that call to Chinese ports and our vessels being built at Chinese shipyards,
and could have a material adverse effect on our business, results of operations and financial condition and our ability to pay
dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The market values of our vessels have
declined and may further decline, which could limit the amount of funds that we can borrow, cause us to breach certain financial
covenants in our credit facilities (including ship financing facilities) or result in an impairment charge, and we may incur a
loss if we sell vessels following a decline in their market value.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The fair market values
of dry bulk vessels have generally experienced high volatility and have recently declined significantly. The fair market value
of our vessels may continue to fluctuate depending on a number of factors, including:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">prevailing level of charter rates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">general economic and market conditions affecting the shipping industry;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">types, sizes and ages of vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">supply of and demand for vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">other modes of transportation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">cost of newbuildings;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">governmental or other regulations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the need to upgrade vessels as a result of charterer requirements, technological advances in vessel
design or equipment or otherwise;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">technological advances; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">competition from other shipping companies and other modes of transportation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As described under
&#147;Item 5. Operating and Financial Review and Prospects &ndash; B. Liquidity and Capital Resources &ndash; Credit Facility
Covenants,&#148; we are not in compliance with the security coverage ratio (&#147;SCR&#148;) required under certain of our loan
agreements, as the fair market value of certain of our vessels is found to have declined sufficiently due to the recent downward
turn of the dry bulk market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under such circumstances,
we may have to prepay the amount drawn under a loan agreement, pay a certain amount to cover the security shortfall or provide
additional security to remedy the security shortfall upon request by the relevant lenders. If we fail to take any such requested
measures, such circumstances could result in an event of default under our loan agreements. In such circumstances, we may not be
able to refinance our debt or obtain additional financing on terms that are acceptable to us or at all. If we are not able to comply
with the covenants in our credit facilities and are unable to remedy the relevant breach, our lenders could accelerate our debt
and foreclose on our vessels, or the funds required to pay for a vessel may not be available at the time the payments are due to
the shipbuilder or seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, as described
under &#147;Item 5. Operating and Financial Review and Prospects &ndash; A. Operating Results &ndash; Critical Accounting Policies
&ndash; Impairment of long-lived assets,&#148; due to the recent decline in vessel values, we have recorded an impairment charge
in our consolidated financial statements, which has adversely affected our financial results. In addition, because we sold vessels
at a time when vessel prices have fallen and before we recorded an impairment adjustment to our consolidated financial statements,
the sale proceeds were less than the vessels&#146; carrying value on our consolidated financial statements, resulting in a loss
and a reduction in earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our financial results
may be similarly affected in the future if we record an impairment charge or sell vessels before we record an impairment adjustment.
Conversely, if vessel values are elevated at a time when we wish to acquire additional vessels, the cost of such acquisitions may
increase and this could adversely affect our business, results of operations, cash flow and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compliance with safety and other vessel
requirements imposed by classification societies may be very costly and may adversely affect our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The vast majority of
commercial vessels are built to safety and other vessel requirements established by private classification, or class, societies
such as the American Bureau of Shipping. The class society certifies that a vessel is safe and seaworthy in accordance with its
standards and regulations, which is an element of compliance with the Safety of Life at Sea Convention known as SOLAS, and, where
so engaged, the applicable conventions, rules and regulations adopted by the country of registry of the vessel. Every classed vessel
is subject to a specific program of periodic class surveys consisting of annual surveys, an intermediate survey and a class renewal
or special survey normally every five years. Surveys become more intensive as the vessel ages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In lieu of a special
survey, a vessel&#146;s machinery may be on a continuous survey cycle under which the machinery would be surveyed periodically
over a five-year period. Every vessel is also required to be taken out of the water in a dry dock every two and a half to five
years for inspection of its underwater parts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Compliance with class
society recommendations and requirements may result in significant expense. If any vessel does not maintain its class or fails
any annual, intermediate or special survey, the vessel will be unable to trade between ports and will be unemployable and uninsurable
until such failures are remedied, which could negatively impact our results of operations and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are subject to complex laws and regulations,
including environmental regulations, that can adversely affect the cost, manner or feasibility of doing business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operations are
subject to numerous international, national, state and local laws, regulations, treaties and conventions in force in international
waters and the jurisdictions in which our vessels operate or are registered, which can significantly affect the ownership and operation
of our vessels. These laws and other legal requirements include, but are not limited to, the U.S. Act to Prevent Pollution from
Ships, the U.S. Oil Pollution Act of 1990 (the &#147;OPA&#148;), the U.S. Comprehensive Environmental Response, Compensation
and Liability Act of 1980, the U.S. Clean Air Act, the U.S. Clean Water Act, the U.S. Ocean Dumping Act, 1972, the U.S. Maritime
Transportation Security Act of 2002 and international conventions issued under the auspices of the United Nations International
Maritime Organization including the International Convention on the Prevention of Marine Pollution by Dumping of Wastes and Other
Matter, 1972 as modified by the 1996 London Protocol, the International Convention for the Prevention of Pollution from Ships,
1973 as modified by the Protocol of 1978, the International Convention for the Safety of Life at Sea, 1974, and the International
Convention on Load Lines, 1966. Compliance with such laws and other legal requirements may require vessels to be altered, costly
equipment to be installed or operational changes to be implemented and may decrease the resale value or reduce the useful lives
of our vessels. Such compliance costs could have a material adverse effect on our business, financial condition and results of
operations. A failure to comply with applicable laws and other legal requirements may result in administrative and civil monetary
fines and penalties, additional compliance plans or programs or other ongoing increased compliance costs, criminal sanctions or
the suspension or termination of our operations. Because such laws and other legal requirements are often revised, we cannot predict
the ultimate cost of complying with them or their impact on the resale prices or useful lives of our vessels. Additional conventions,
laws and regulations or other legal requirements may be adopted which could limit our ability to do business or increase the cost
of our doing business and which may materially adversely affect our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Environmental laws
often impose strict liability for remediation of spills and releases of oil and hazardous substances, which could subject us to
liability without regard to whether we were negligent or at fault. Under OPA, for example, owners, operators and bareboat charterers
are jointly and severally strictly liable for the discharge of oil within the 200-mile exclusive economic zone around the United
States. Furthermore, environmental, safety, manning and other laws and legal requirements have become more stringent and impose
greater costs on vessels after significant vessel related accidents like the grounding of the <I>Exxon Valdez</I> in 1989 and the
explosion and oil spill in 2010 with respect to the <I>Deepwater Horizon </I>offshore oil drilling rig. Similar unpredictable events
may result in further regulation of the shipping industry as well as modifications to statutory liability schemes, which could
have a material adverse effect on our business, financial condition and results of operations. An oil spill caused by one of our
vessels or attributed to one of our vessels could result in significant company liability, including fines, penalties and criminal
liability and remediation costs for natural resource and other damages under a variety of laws and legal requirements, as well
as third-party damages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are required by
various governmental and quasi-governmental agencies to obtain certain permits, licenses, and certificates with respect to our
operations and to satisfy insurance and financial responsibility requirements for potential oil (including marine fuel) spills
and other pollution incidents. Any such insurance may not be sufficient to cover all such liabilities and it may be difficult to
obtain adequate coverage on acceptable terms in certain market conditions. Claims against our vessels whether covered by insurance
or not may result in a material adverse effect on our business, results of operations, cash flows and financial condition and our
ability to pay dividends, if any, in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>In order to comply with emerging ballast
water treatment requirements, we may have to purchase expensive ballast water treatment systems and modify our vessels to accommodate
such systems.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Many countries already
regulate the discharge of ballast water carried by vessels from country to country to prevent the introduction of invasive harmful
species via such discharges. The United States, for example, requires vessels entering its waters from another country to conduct
mid-ocean ballast exchange, or undertake some alternative measure, and to comply with certain reporting requirements. The International
Convention for the Control and Management of Ships&#146; Ballast Water and Sediments (the &#147;BWM Convention&#148;), adopted
by the UN International Maritime Organization in February 2004, calls for the phased introduction of mandatory reducing living
organism limits in ballast water over time. Although the BWM Convention has not yet entered into force and has not been ratified
by the United States, the United States Coast Guard has adopted regulations imposing requirements similar to those of the BWM Convention.
In order to comply with these living organism limits, vessel owners may have to install expensive ballast water treatment systems
or make port facility disposal arrangements and modify existing vessels to accommodate those systems. To date, many of these systems
are unproven and not yet certified for use by any government. We cannot predict whether the BWM Convention will be sufficiently
ratified to enter into force or whether other countries will adopt it or similar requirements unilaterally. Adoption of the BWM
Convention standards could have an adverse material impact on our business, financial condition and results of operations depending
on the available ballast water treatment systems and the extent to which existing vessels must be modified to accommodate such
systems.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>An over-supply of dry bulk carrier capacity
in recent years may prolong or further depress the current low charter rates, which may limit our ability to operate our dry bulk
carriers profitably.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The supply of dry bulk
vessels has increased significantly since the beginning of 2006. As of the beginning of February 2016, the order book for newbuilding
vessels stood at approximately 15% of the existing global fleet capacity excluding conversion and cancellations. Vessel supply
has increased more than vessel demand in recent years, causing downward pressure on charter rates during that time. If supply is
not fully absorbed by the market, charter rates may continue to be under pressure due to vessel supply. Since our fleet will continue
to be mostly employed in voyage charters and short-term time charters, we remain exposed to the spot market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>World events could affect our results
of operations and financial condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Past terrorist attacks,
as well as the threat of future terrorist attacks around the world, continue to cause uncertainty in the world&#146;s financial
markets and may affect our business, operating results and financial condition. Continuing conflicts, instability and other recent
developments in the Ukraine, the Korean Peninsula, the East China Sea, the Middle East, including Iraq, Syria, Egypt, West Africa
and North Africa, and the presence of U.S. or other armed forces in the Middle East, may lead to additional acts of terrorism and
armed conflict around the world, which may contribute to further economic instability in the global financial markets. Epidemics
and other public health incidents may lead to crew member illness, which can disrupt the operations of our vessels, or to public
health measures, which may prevent our vessels from calling on ports or discharging cargo in the affected areas or in other locations
after having visited the affected areas. These uncertainties could also adversely affect our ability to obtain additional financing
on terms acceptable to us or at all. In the past, political conflicts have also resulted in attacks on vessels, mining of waterways
and other efforts to disrupt international shipping, particularly in the Arabian Gulf region. Acts of terrorism and piracy have
also affected vessels trading in regions such as the South China Sea and the Gulf of Aden off the coast of Somalia. In November
2013, the government of the People&#146;s Republic of China announced an Air Defense Identification Zone (&#147;ADIZ&#148;),
covering much of the East China Sea. When introduced, the Chinese ADIZ was controversial because a number of nations are not honoring
the ADIZ, and the ADIZ includes certain maritime areas that have been contested among various nations in the region. Tensions relating
to the Chinese ADIZ may escalate as a result of incidents relating to the ADIZ or other territorial disputes, which may result
in additional limitations on navigation or trade. Any of these occurrences could have a material adverse impact on our business,
financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Acts of piracy on ocean-going vessels
have had and may continue to have an adverse effect on our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Acts of piracy have
historically affected ocean-going vessels trading in regions of the world such as the South China Sea, the Indian Ocean and in
the Gulf of Aden off the coast of Somalia. Although the frequency of sea piracy worldwide has decreased to its lowest level since
2009, sea piracy incidents continue to occur, particularly in the Gulf of Aden off the coast of Somalia and increasingly in the
Gulf of Guinea and the West Coast of Africa, with dry bulk vessels particularly vulnerable to such attacks. If these piracy attacks
result in regions in which our vessels are deployed being characterized as &#147;war risk&#148; zones by insurers, as the Gulf
of Aden temporarily was in May 2008, or Joint War Committee &#147;war and strikes&#148; listed areas, premiums payable for such
coverage could increase significantly and such insurance coverage may be more difficult to obtain. In addition, crew costs, including
those due to employing onboard security guards, could increase in such circumstances. Furthermore, while we believe the charterer
remains liable for charter payments when a vessel is seized by pirates, the charterer may dispute this and withhold charterhire
until the vessel is released. A charterer may also claim that a vessel seized by pirates was not &#147;on-hire&#148; for a certain
number of days and is therefore entitled to cancel the charter party, a claim that we would dispute. We may not be adequately insured
to cover losses from these incidents, which could have a material adverse effect on us. In addition, any detention hijacking as
a result of an act of piracy against our vessels, or an increase in cost, or unavailability, of insurance for our vessels, could
have a material adverse impact on our business, financial condition, cash flows and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We could face penalties under European
Union, United States or other economic sanctions which could adversely affect our reputation, our financial results and the market
for our common shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business could
be adversely impacted if we are found to have violated economic sanctions under the applicable laws of the European Union, the
United States or another applicable jurisdiction against countries such as Iran, Sudan, Syria, North Korea and Cuba. U.S. economic
sanctions, for example, prohibit a wide scope of conduct, target numerous countries and individuals, are frequently updated or
changed and have vague application in many situations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Many economic sanctions
relate to our business, including prohibitions on certain kinds of trade with countries, such as exportation or re-exportation
of commodities, or prohibitions against certain transactions with designated nationals who may be operating under aliases or through
non-designated companies. The imposition of Ukrainian-related economic sanctions on Russian persons, first imposed in March 2014,
is an example of economic sanctions with a potentially widespread and unpredictable impact on shipping.&nbsp;Certain of our charterers
or other parties that we have entered into contracts with regarding our vessels may be affiliated with persons or entities that
are the subject of sanctions imposed by the Obama administration, and European Union and/or other international bodies as a result
of the annexation of Crimea by Russia in 2014. If we determine that such sanctions require us to terminate existing contracts or
if we are found to be in violation of such applicable sanctions, our results of operations may be adversely affected or we may
suffer reputational harm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, the U.S.
Iran Threat Reduction Act (which was signed into law in 2012) amended the Exchange Act to require issuers that file annual or quarterly
reports under Section 13(a) of the Exchange Act to include disclosure in their annual and quarterly reports as to whether the issuer
or its affiliates have knowingly engaged in certain activities prohibited by sanctions against Iran or transactions or dealings
with certain identified persons. We are subject to this disclosure requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we believe
that we are in compliance with all applicable sanctions and embargo laws and regulations and intend to maintain such compliance,
there can be no assurance that we will be in compliance in the future, particularly as the scope of certain laws may be unclear
and may be subject to changing interpretations. Any such violation could result in fines or other penalties and could severely
impact our ability to access U.S. capital markets and conduct our business, and could result in some investors deciding, or being
required, to divest their interest, or not to invest, in us. Even inadvertent violations of economic sanctions can result in the
imposition of material fines and restrictions and could adversely affect our business, financial condition and results of operations,
our reputation, and the market price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our vessels may call on ports subject
to economic sanctions or embargoes that could adversely affect our reputation and the market for our common shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From time to time on
charterers&#146; instructions, our vessels may call on ports located in countries subject to sanctions and embargoes imposed by
the United States government and countries identified by the U.S. government as state sponsors of terrorism, such as Cuba, Iran,
Sudan and Syria. The U.S. sanctions and embargo laws and regulations vary in their application, as they do not all apply to the
same covered persons or proscribe the same activities, and such sanctions and embargo laws and regulations may be amended or strengthened
over time. With effect from July 1, 2010, the U.S. enacted the Comprehensive Iran Sanctions Accountability and Divestment Act,
or CISADA, which expanded the scope of the Iran Sanctions Act. Among other things, CISADA expands the application of the prohibitions
to companies, such as ours, and introduces limits on the ability of companies and persons to do business or trade with Iran when
such activities relate to the investment, supply or export of refined petroleum or petroleum products. In addition, on May 1, 2012,
President Obama signed Executive Order 13608 which prohibits foreign persons from violating or attempting to violate, or causing
a violation of any sanctions in effect against Iran or facilitating any deceptive transactions for or on behalf of any person subject
to U.S. sanctions. Any persons found to be in violation of Executive Order 13608 will be deemed a foreign sanctions evader and
will be banned from all contacts with the United States, including conducting business in U.S. dollars. Also in 2012, President
Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012, or the Iran Threat Reduction Act, which created
new sanctions and strengthened existing sanctions. Among other things, the Iran Threat Reduction Act intensifies existing sanctions
regarding the provision of goods, services, infrastructure or technology to Iran&#146;s petroleum or petrochemical sector. The
Iran Threat Reduction Act also includes a provision requiring the President of the United States to impose five or more sanctions
from Section 6(a) of the Iran Sanctions Act, as amended, on a person the President determines is a controlling beneficial owner
of, or otherwise owns, operates, or controls or insures a vessel that was used to transport crude oil from Iran to another country
and (1) if the person is a controlling beneficial owner of the vessel, the person had actual knowledge the vessel was so used or
(2) if the person otherwise owns, operates, or controls, or insures the vessel, the person knew or should have known the vessel
was so used. Such a person could be subject to a variety of sanctions, including exclusion from U.S. capital markets, exclusion
from financial transactions subject to U.S. jurisdiction, and exclusion of that person&#146;s vessels from U.S. ports for up to
two years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 24, 2013,
the P5+1 (the United States, United Kingdom, Germany, France, Russia and China) entered into an interim agreement with Iran entitled
the &#147;Joint Plan of Action&#148; (&#147;JPOA&#148;). Under the JPOA it was agreed that, in exchange for Iran taking certain
voluntary measures to ensure that its nuclear program is used only for peaceful purposes, the U.S. and EU would voluntarily suspend
certain sanctions for a period of six months. On January 20, 2014, the U.S. and E.U. indicated that they would begin implementing
the temporary relief measures provided for under the JPOA. These measures included, among other things, the suspension of certain
sanctions on the Iranian petrochemicals, precious metals, and automotive industries from January 20, 2014 until July 20, 2014.
The JPOA was subsequently extended twice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 14, 2015, the
P5+1 and the EU announced that they reached a landmark agreement with Iran titled the Joint Comprehensive Plan of Action Regarding
the Islamic Republic of Iran&#146;s Nuclear Program (the &#147;JCPOA&#148;), which is intended to significantly restrict Iran&#146;s
ability to develop and produce nuclear weapons for 10 years while simultaneously easing sanctions directed toward non-U.S. persons
for conduct involving Iran, but taking place outside of U.S. jurisdiction and does not involve U.S. persons. On January 16, 2016
(&#147;Implementation Day&#148;), the United States joined the EU and the UN in lifting a significant number of their nuclear-related
sanctions on Iran following an announcement by the International Atomic Energy Agency (&#147;IAEA&#148;) that Iran had satisfied
its respective obligations under the JCPOA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. sanctions prohibiting
certain conduct that is now permitted under the JCPOA have not actually been repealed or permanently terminated at this time. Rather,
the U.S. government has implemented changes to the sanctions regime by: (1) issuing waivers of certain statutory sanctions provisions;
(2) committing to refrain from exercising certain discretionary sanctions authorities; (3) removing certain individuals and entities
from OFAC&#146;s sanctions lists; and (4) revoking certain Executive Orders and specified sections of Executive Orders. These sanctions
will not be permanently &#147;lifted&#148; until the earlier of &#147;Transition Day,&#148; set to occur on October 20, 2023,
or upon a report from the IAEA stating that all nuclear material in Iran is being used for peaceful activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we believe
that we have been in compliance with all applicable sanctions and embargo laws and regulations, and intend to maintain such compliance,
there can be no assurance that we will be in compliance in the future as such regulations and sanctions may be amended over time,
and the U.S. retains the authority to revoke the aforementioned relief if Iran fails to meet its commitments under the JCPOA. Any
such violation could result in fines, penalties or other sanctions that could severely impact our ability to access U.S. capital
markets and conduct our business, and could result in some investors deciding, or being required, to divest their interest, or
not to invest, in us. In addition, certain institutional investors may have investment policies or restrictions that prevent them
from holding securities of companies that have contracts with countries identified by the U.S. government as state sponsors of
terrorism. The determination by these investors not to invest in, or to divest from, our common stock may adversely affect the
price at which our common stock trades. Moreover, our charterers may violate applicable sanctions and embargo laws and regulations
as a result of actions that do not involve us or our vessels, and those violations could in turn negatively affect our reputation.
In addition, our reputation and the market for our securities may be adversely affected if we engage in certain other activities,
such as entering into charters with individuals or entities in countries subject to U.S. sanctions and embargo laws that are not
controlled by the governments of those countries, or engaging in operations associated with those countries pursuant to contracts
with third parties that are unrelated to those countries or entities controlled by their governments. Investor perception of the
value of our common stock may be adversely affected by the consequences of war, the effects of terrorism, civil unrest and governmental
actions in these and surrounding countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our operating results are subject to
seasonal fluctuations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We operate our vessels
in markets that have historically exhibited seasonal variations in demand and, as a result, in charterhire rates. This seasonality
may result in volatility in our operating results to the extent that we enter into new charter agreements or renew existing agreements
during a time when charter rates are weaker or we operate our vessels on the spot market or index based time charters, which may
result in quarter-to-quarter volatility in our operating results. The dry bulk sector is typically stronger in the fall and winter
months in anticipation of increased consumption of coal and other raw materials in the northern hemisphere. In addition, unpredictable
weather patterns in these months tend to disrupt vessel scheduling and supplies of certain commodities. Since we charter our vessels
principally in the spot market, our revenues from our dry bulk carriers may be weaker during the fiscal quarters ended June 30
and September 30, and stronger during the fiscal quarters ended December 31 and March 31.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are subject to international safety
regulations, and the failure to comply with these regulations may subject us to increased liability, may adversely affect our insurance
coverage and may result in a denial of access to, or detention in, certain ports.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The operation of our
vessels is affected by the requirements set forth in the United Nations&#146; International Maritime Organization&#146;s International
Management Code (the &#147;ISM Code&#148;). The ISM Code requires shipowners, ship managers and bareboat charterers to develop
and maintain an extensive &#147;Safety Management System&#148; that includes the adoption of a safety and environmental protection
policy setting forth instructions and procedures for safe operation of vessels and describing procedures for dealing with emergencies.
In addition, vessel classification societies impose significant safety and other requirements on our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The failure of a shipowner
or bareboat charterer to comply with the ISM Code may subject it to increased liability, may invalidate existing insurance or decrease
available insurance coverage for the affected vessels and may result in a denial of access to, or detention in, certain ports.
Each of our existing vessels is ISM Code-certified, and each of the vessels that we have agreed to acquire will be ISM Code-certified
when delivered to us. However, if we are found not to be in compliance with ISM Code requirements, we may have to incur material
direct and indirect costs to resume compliance and our insurance coverage could be adversely impacted as a result of compliance.
Our vessels may also be delayed or denied port access if they are found to be in non-compliance, which could result in charter
claims and increased inspection and operational costs even after resuming compliance. Any failure to comply with the ISM Code could
negatively affect our business, financial condition, cash flows and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Increased inspection procedures and
tighter import and export controls could increase costs and disrupt our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">International shipping
is subject to various security and customs inspection and related procedures in countries of origin and destination and trans-shipment
points. Inspection procedures may result in the seizure of contents of our vessels, delays in the loading, offloading, trans-shipment
or delivery and the levying of customs duties, fines or other penalties against us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is possible that
changes to inspection procedures could impose additional financial and legal obligations on us. Changes to inspection procedures
could also impose additional costs and obligations on our customers and may, in certain cases, render the shipment of certain types
of cargo uneconomical or impractical. Any such changes or developments may have a material adverse effect on our business, financial
condition, cash flows and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The operation of dry bulk carriers entails
certain operational risks that could affect our earnings and cash flow.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For a dry bulk carrier,
the cargo itself and its interaction with the vessel can be an operational risk. By their nature, dry bulk cargoes are often heavy,
dense and easily shifted and react badly to water exposure. In addition, dry bulk carriers are often subjected to battering treatment
during unloading operations with grabs, jackhammers (to pry encrusted cargoes out of the hold) and small bulldozers. This treatment
may cause damage to the vessel. Vessels damaged due to treatment during unloading procedures may be more susceptible to breach
at sea. Hull breaches in dry bulk carriers may lead to the flooding of the vessels&#146; holds. If a dry bulk carrier suffers
flooding in its forward holds, the bulk cargo may become so dense and waterlogged that its pressure may buckle the vessel&#146;s
bulkheads, leading to the loss of a vessel. If we are unable to adequately maintain our vessels, we may be unable to prevent these
events. Any of these circumstances or events may have a material adverse effect on our business, results of operations, cash flows,
financial condition and ability to pay dividends. In addition, the loss of any of our vessels could harm our reputation as a safe
and reliable vessel owner and operator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Fuel, or bunker, prices and
marine fuel availability may adversely affect our profits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since we expect to
primarily employ our vessels in the spot market, we expect that vessel fuel, known as bunkers, will be the largest single expense
item in our shipping operations for our vessels. Changes in the price of fuel may adversely affect our profitability. The imposition
of stringent vessel air emissions requirements, such as the requirement to reduce the amount of sulfur in fuel to 0.10% in certain
coastal areas on January 1, 2015 and potentially in all areas of the world in 2020 or 2025, could lead to marine fuel shortages
and substantial increases in marine fuel prices which could have a material adverse effect on our business, financial condition
and results of operations. The price and supply of fuel are unpredictable and fluctuate based on events outside our control, including
geopolitical developments, supply and demand for oil and gas, actions by the Organization of the Petroleum Exporting Countries
and other oil and gas producers, war and unrest in oil producing countries and regions, regional production patterns and environmental
concerns. Further, fuel may become much more expensive in the future, which may reduce our profitability and competitiveness of
our business versus other forms of transportation, such as truck or rail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our business has inherent operational
risks, which may not be adequately covered by insurance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our vessels and their
cargoes are at risk of being damaged or lost because of events or risks such as Acts of God, marine disasters, bad weather, mechanical
failures, human error, environmental accidents, war, terrorism, piracy, cyber-attack, radioactive contamination and other circumstances
or events. In addition, transporting cargoes across a wide variety of international jurisdictions creates a risk of business interruptions
due to political circumstances in foreign countries, hostilities, labor strikes and boycotts, the potential for changes in tax
rates or policies, and the potential for government expropriation of our vessels. Any of these events may result in loss of revenues,
increased costs and decreased cash flows to our customers, which could impair their ability to make payments to us under our charters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event of a casualty
to a vessel or other catastrophic event, we rely on our insurance to pay the insured value of the vessel or the damages incurred.
Through our management agreements with our technical managers, we procure insurance for the vessels in our fleet against those
risks that we believe the shipping industry commonly insures against. This insurance includes marine hull and machinery insurance,
protection insurance and indemnity insurance, which include pollution risks and crew insurances, and war risk insurance. Currently,
the amount of coverage for liability for pollution, spillage and leakage available to us on commercially reasonable terms through
protection and indemnity associations and providers of excess coverage is $1.0 billion per vessel per occurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain and expect
to maintain hull and machinery insurance, protection insurance and indemnity insurance for all of our existing and newbuilding
vessels, which includes environmental damage and pollution insurance coverage and war risk insurance for our fleet. We do not maintain
nor expect to maintain, for our vessels, insurance against loss of hire, which covers business interruptions that result from the
loss of use of a vessel. Therefore, if the availability of a vessel for hire is interrupted, the loss of earnings due to such interruption
could negatively affect our business. We may not be adequately insured against all risks. We may not be able to obtain adequate
insurance coverage for our fleet in the future, and we may not be able to obtain certain insurance coverages. The insurers may
not pay particular claims. Our insurance policies may contain deductibles for which we will be responsible and limitations and
exclusions which may increase our costs or lower our revenue. Moreover, insurers may default on claims they are required to pay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We cannot assure you
that we will be adequately insured against all risks or that we will be able to obtain adequate insurance coverage at reasonable
rates for our vessels in the future. For example, in the past more stringent environmental regulations have led to increased costs
for, and in the future may result in the lack of availability of, insurance against risks of environmental damage or pollution.
Additionally, our insurers may refuse to pay particular claims. Any significant loss or liability for which we are not insured
could have a material adverse effect on our business and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may be subject to calls because we
obtain some of our insurance through protection and indemnity associations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may be subject to
increased premium payments, or calls, in amounts based on our claim records and the claim records of our fleet managers as well
as the claim records of other members of the protection and indemnity associations (P&amp;I Associations) through which we receive
insurance coverage for tort liability, including pollution-related liability. In addition, our P&amp;I Associations may not have
enough resources to cover claims made against them. Our payment of these calls could result in a significant expense to us, which
could have a material adverse effect on our business, results of operations, cash flows and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Labor interruptions could disrupt our
business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Management
Inc., Star Bulk Shipmanagement Company (Cyprus) Limited and Starbulk S.A. currently provide the crew for all of our vessels, which
are manned by masters, officers and crews that are employed by our shipowning subsidiaries. If not resolved in a timely and cost-effective
manner, industrial action or other labor unrest could prevent or hinder our operations from being carried out normally and could
have a material adverse effect on our business, results of operations, cash flows and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The smuggling of drugs or other contraband
onto our vessels may lead to governmental claims against us.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our vessels may call
in ports where smugglers attempt to hide drugs and other contraband on vessels, with or without the knowledge of crew members.
To the extent our vessels are found with contraband, whether inside or attached to the hull of our vessel and whether with or without
the knowledge of any of our crew, we may face governmental or other regulatory claims or restrictions which could have an adverse
effect on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Maritime claimants could arrest one
or more of our vessels, which could interrupt our cash flow.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Crew members, suppliers
of goods and services to a vessel, shippers of cargo and other parties may be entitled to a maritime lien against a vessel for
unsatisfied debts, claims or damages. In many jurisdictions, a claimant may seek to obtain security for its claim by arresting
a vessel through foreclosure proceedings. The arrest or attachment of one or more of our vessels could interrupt our cash flow
and require us to pay large sums of money to have the arrest or attachment lifted. In addition, in some jurisdictions, such as
South Africa, under the &#147;sister ship&#148; theory of liability, a claimant may arrest both the vessel which is subject to
the claimant&#146;s maritime lien and any &#147;associated&#148; vessel, which is any vessel owned or controlled by the same
owner. Claimants could attempt to assert &#147;sister ship&#148; liability against one vessel in our fleet for claims relating
to another of our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Governments could requisition our vessels
during a period of war or emergency, resulting in a loss of earnings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A government could
requisition one or more of our vessels for title or for hire. Requisition for title occurs when a government takes control of a
vessel and becomes its owner, while requisition for hire occurs when a government takes control of a vessel and effectively becomes
its charterer at dictated charter rates. Generally, requisitions occur during periods of war or emergency, although governments
may elect to requisition vessels in other circumstances. Although we would be entitled to compensation in the event of a requisition
of one or more of our vessels, the amount and timing of payment would be uncertain. Government requisition of one or more of our
vessels may negatively impact our revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We operate our vessels worldwide and
as a result, our vessels are exposed to international risks which may reduce revenue or increase expenses.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The international shipping
industry is an inherently risky business involving global operations. Our vessels and their cargoes are at a risk of being damaged
or lost because of events such as mechanical failure, collision, human error, war, terrorism, piracy, marine disasters, and bad
weather and other acts of God. In addition, changing economic, regulatory and political conditions in some countries, including
political and military conflicts, have from time to time resulted in attacks on vessels, mining of waterways, piracy, terrorism,
labor strikes and boycotts. These sorts of events could interfere with shipping routes and result in market disruptions which may
reduce our revenue or increase our expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Failure to comply with the U.S. Foreign
Corrupt Practices Act (the &#147;FCPA&#148;) could result in fines, criminal penalties, charter terminations and an adverse effect
on our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may operate in a
number of countries throughout the world, including countries known to have a reputation for corruption. We are committed to doing
business in accordance with applicable anti-corruption laws, including the FCPA. We are subject, however, to the risk that we,
our affiliated entities or our or their respective officers, directors, employees and agents may take actions determined to be
in violation of such anti-corruption laws. Any such violation could result in substantial fines, sanctions, civil and/or criminal
penalties and curtailment of operations in certain jurisdictions, and might adversely affect our business, results of operations
or financial condition. In addition, actual or alleged violations could damage our reputation and ability to do business. Furthermore,
detecting, investigating, and resolving actual or alleged violations is expensive and can consume significant time and attention
of our senior management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Because we generate all of our revenues
in U.S. dollars but incur a portion of our expenses in other currencies, exchange rate fluctuations could have an adverse impact
on our results of operations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generate all of
our revenue in U.S. dollars, and the majority of our expenses are denominated in U.S. dollars. However, a portion of our ship operating
and administrative expenses are denominated in currencies other than U.S. dollars. For the years ended December 31, 2014 and 2015,
we incurred approximately 20% and 7%, respectively, of our operating expenses and 47% and 66%, respectively, of our general and
administrative expenses in currencies other than U.S. dollars. This difference could lead to fluctuations in net income due to
changes in the value of the dollar relative to the other currencies, in particular the Euro. Expenses incurred in foreign currencies
against which the dollar falls in value can increase, decreasing our revenues. Declines in the value of the dollar could lead to
higher expenses payable by us. While we historically have not mitigated the risk associated with exchange rate fluctuations through
the use of financial derivatives, we may employ such instruments from time to time in the future in order to minimize this risk.
Any future use of financial derivatives would involve certain risks, including the risk that losses on a hedged position could
exceed the notional amount invested in the instrument and the risk that the counterparty to the derivative transaction may be unable
or unwilling to satisfy its contractual obligations, which could have an adverse effect on our results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Public Company Accounting Oversight Board inspection
of our independent accounting firm, could lead to findings in our auditors&rsquo; reports and challenge the accuracy of our published
audited consolidated financial statements. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Auditors of U.S. public companies are required by law to
undergo periodic Public Company Accounting Oversight Board (&ldquo;PCAOB&rdquo;) inspections that assess their compliance with U.S.
law and professional standards in connection with performance of audits of financial statements filed with the SEC. For several
years certain European Union countries, including Greece, did not permit the PCAOB to conduct inspections of accounting firms
established and operating in such European Union countries, even if they were part of major international firms. Accordingly,
unlike for most U.S. public companies, the PCAOB was prevented from evaluating our auditor&rsquo;s performance of audits and its quality
control procedures, and, unlike stockholders of most U.S. public companies, we and our stockholders were deprived of the possible
benefits of such inspections. During 2015, Greece has agreed to allow the PCAOB to conduct inspections of accounting firms operating
in Greece. In the future, such PCAOB inspections could result in findings in our auditors&rsquo; quality control procedures, question
the validity of the auditor&rsquo;s reports on our published consolidated financial statements and the effectiveness of our internal
control over financial reporting, and cast doubt upon the accuracy of our published audited financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may be adversely affected by the introduction of new
accounting rules for leasing.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In February 2016, the Financial Accounting Standards Board
(&ldquo;FASB&rdquo;) issued Accounting Standards Update (&ldquo;ASU&rdquo;) No. 2016-02, &ldquo;Leases (Topic 842)&rdquo;. ASU
2016-02 will apply to both types of leases &ndash; capital (or finance) leases and operating leases. According to the new Accounting
Standard, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created
by all leases with term of more than 12 months. ASU 2016 &ndash; 02 is effective for fiscal years beginning after December 15,
2018, including interim periods within those fiscal years. Early application is permitted. Financial statement metrics such as
leverage and capital ratios, as well as EBITDA and Adjusted EBITDA, may also be affected, even when cash flow and business activity
have not changed. This may in turn affect covenant calculations under various contracts (e.g., loan agreements) unless the affected
contracts are modified. We have not early adopted the ASU No. 2016-02 and we are currently assessing the impact that adopting
this new accounting guidance will have on our consolidated financial statements and footnotes disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Risks Related to Our Company</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We cannot assure you that we will be
successful in finding employment for all of our vessels.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, our existing fleet of 72 vessels, had an aggregate capacity of approximately 7.6 million dwt. We have also entered into or
acquired construction contracts, either directly with the shipyards or indirectly through the use of bareboat agreements with purchase
options, for ten newbuilding vessels, with scheduled deliveries to us from March 2016 to January 2018. We intend to employ our
vessels primarily in the spot market, under short term time charters or voyage charters. We will own a large number of vessels
that will enter these markets in a relatively short period of time without having previously secured employment. We cannot assure
you that we will be successful in finding employment for our newbuilding vessels in the volatile spot market immediately upon their
deliveries to us or whether any such employment will be at profitable rates, nor can we assure you continued timely employment
of our existing vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We have significant risks relating to
the construction of our newbuilding vessels.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, we had contracts for ten newbuilding vessels. These vessels are scheduled to be delivered through January 2018. Vessel construction
projects are generally subject to risks of delay or cost overruns that are inherent in any large construction project, which may
be caused by numerous factors, including shortages of equipment, materials or skilled labor, unscheduled delays in the delivery
of ordered materials and equipment or shipyard construction, failure of equipment to meet quality and/or performance standards,
financial or operating difficulties experienced by equipment vendors or the shipyard, unanticipated actual or purported change
orders, inability to obtain required permits or approvals, unanticipated cost increases between order and delivery, design or engineering
changes and work stoppages and other labor disputes, adverse weather conditions, unavailability of financing when needed or any
other events of force majeure. Significant cost overruns or delays could adversely affect our financial position, results of operations
and cash flows. Additionally, failure to complete a project on time may result in the delay of revenue from that vessel, and we
will continue to incur costs and expenses related to any delayed vessels, such as supervision expense and interest expense for
the outstanding debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We continue to have significant capital
expenditures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The dry bulk shipping
business is highly capital-intensive because of the significant investment in vessels that is required. As of February 29, 2016,
the total payments for our ten newbuilding vessels were expected to be $471.8 million, of which we had already paid $112.1
million. As of February 29, 2016, we had $175.8 million of cash on hand and we had obtained commitments for $291.6 million
of secured debt for our newbuilding vessels (other than two newbuilding vessels which will be sold upon their delivery to us).
We may not be able to obtain sufficient financing to fulfill all of our capital requirements. In addition, to the extent we are
not in compliance with financial or other covenants or conditions precedent in our vessel financing facilities, we may be unable
to draw on such financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we are not able
to borrow additional funds, raise other capital or utilize available cash on hand, we may not be able to acquire our newbuilding
vessels, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.
We expect to fund our remaining newbuilding commitments through credit facilities, the proceeds of equity and notes issuances,
proceeds from asset sales, existing cash and bareboat charters but may not be able to do so. There can be no assurance that we
will be able to obtain such financings on a timely basis or on terms we deem reasonable or acceptable. To the degree we raise equity
financing to fund our capital expenditures, such equity raises may dilute the ownership of our existing shareholders and may be
dilutive to our earnings per share. If for any reason we fail to make a payment when due, which may result in a default under our
newbuilding contracts, or otherwise fail to take delivery of our newbuilding vessels, we would be prevented from realizing potential
revenues from these vessels, we could also lose all or a portion of our yard payments that were paid by us, and we could be liable
for penalties and damages under such contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are highly leveraged, which could
significantly limit our ability to execute our business strategy and has increased the risk of default under our debt obligations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, we had $1,016.7 million of outstanding indebtedness under our outstanding credit facilities and debt securities including
$78.8 million under our capital lease obligations and $50.0 million under our senior unsecured notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our outstanding debt
agreements impose operating and financial restrictions on us. These restrictions limit our ability, or the ability of our subsidiaries
party thereto, to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">pay dividends and make capital expenditures if we do not repay amounts drawn under our credit facilities,
if there is another default under our credit facilities and/or if certain dates have not passed ;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">incur additional indebtedness, including the issuance of guarantees;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">create liens on our assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">change the flag, class or management of our vessels or terminate or materially amend the management
agreement relating to each vessel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sell our vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">merge or consolidate with, or transfer all or substantially all our assets to, another person;
or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter into a new line of business.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, our debt
agreements require us or our subsidiaries to maintain various financial ratios, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum percentage of aggregate vessel value to secured loans (the &#147;SCR&#148;);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a maximum ratio of total liabilities to market value adjusted total assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum EBITDA to interest coverage ratio;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum liquidity; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum equity ratio.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because some of these
ratios are dependent on the market value of our vessels, should our charter rates or vessel values materially decline in the future,
we may be required to take action to reduce our debt or to act in a manner contrary to our business objectives to meet any such
financial ratios and satisfy any such financial covenants. Events beyond our control, including changes in the economic and business
conditions in the shipping markets in which we operate, may affect our ability to comply with these covenants. As described in
&#147;Item 5. Operating and Financial Review and Prospects &ndash; B. Liquidity and Capital Resources &ndash; Credit Facility
Covenants,&#148; the recent downturn of the dry bulk market has led to a SCR shortfall in certain of our loan agreements. We cannot
assure you that we will be successful in rectifying our compliance with the SCR requirements of these loan agreements, continue
to meet the other ratios or satisfy our financial or other covenants, or that our lenders will waive any failure to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These covenants may
adversely affect our ability to finance future operations or limit our ability to pursue certain business opportunities or take
certain corporate actions. The covenants may also restrict our flexibility in planning for changes in our business and the industry
and make us more vulnerable to economic downturns and adverse developments. A breach of any of the covenants in, or our inability
to maintain the required financial ratios under, our debt agreements could result in a default under our debt agreements. If a
default occurs under our credit facilities, the lenders could elect to declare the outstanding debt, together with accrued interest
and other fees, to be immediately due and payable and foreclose on the collateral securing that debt, which could constitute all
or substantially all of our assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our ability to meet
our cash requirements, including our debt service obligations, is dependent upon our operating performance, which is subject to
general economic and competitive conditions and to financial, business and other factors affecting our operations, many of which
are or may be beyond our control. We cannot provide assurance that our business operations will generate sufficient cash flows
from operations to fund these cash requirements and debt service obligations. If our operating results, cash flow or capital resources
prove inadequate, we could face substantial liquidity problems and might be required to dispose of material assets or operations
to meet our debt and other obligations. If we are unable to service our debt, we could be forced to reduce or delay planned expansions
and capital expenditures, sell assets, restructure or refinance our debt or seek additional equity capital, and we may be unable
to take any of these actions on satisfactory terms or in a timely manner. Further, any of these actions may not be sufficient to
allow us to service our debt obligations or may have an adverse impact on our business. Our debt agreements may limit our ability
to take certain of these actions. Our failure to generate sufficient operating cash flow to pay our debts or to successfully undertake
any of these actions could have a material adverse effect on us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our substantial leverage
could materially and adversely affect our ability to obtain additional financing for working capital, capital expenditures, acquisitions,
debt service requirements or other purposes, could make us more vulnerable to general adverse economic, regulatory and industry
conditions, and could limit our flexibility in planning for, or reacting to, changes and opportunities in the markets in which
we compete.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are subject to certain risks with
respect to our counterparties on contracts, and failure of such counterparties to meet their obligations could cause us to suffer
losses or otherwise adversely affect our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have entered into,
and may enter into in the future, various contracts, including charterparties and contracts of affreightment (&#147;COAs&#148;)
with our customers, newbuilding contracts with shipyards, credit facilities with our lenders and operating leases as charterers.
We also enter into time charters and voyage charters as a charterer. These agreements subject us to counterparty risks. The ability
of each of our counterparties to perform its obligations under a contract with us will depend on a number of factors that are beyond
our control and may include, among other things, general economic conditions, the condition of the maritime industry, the overall
financial condition of the counterparty, charter rates received for specific types of vessels, and various expenses. In addition,
in the event any shipyards do not perform under their contracts, and we are unable to enforce certain refund guarantees with third-party
lenders for any reason, we may lose all or part of our investment, and we may not be able to operate the vessels we ordered in
accordance with our business plan. Should our counterparties fail to honor their obligations under agreements with us, we could
sustain significant losses, which could have a material adverse effect on our business, financial condition, results of operations
and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are currently prohibited from paying
dividends under our debt agreements, and we may be unable to pay dividends in the future.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the terms of
a number of our outstanding financing arrangements, we are subject to various restrictions on our ability to pay dividends. Certain
of our financing arrangements prevent us from paying dividends if an event of default exists, if certain dates have not passed
and/or if certain financial ratios are not met. See Note 8, &#147;Long Term Debt&#148; to our audited consolidated financial
statements, for more information regarding these restrictions contained in our historical financing arrangements. In general, when
dividends are paid, they are distributed on a quarterly basis from our operating surplus, in amounts that allow us to retain a
portion of our cash flows to fund vessel or fleet acquisitions and for debt repayment and other corporate purposes, as determined
by our management and board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the declaration
and payment of dividends will be subject at all times to the discretion of our board of directors. The timing and amount of dividends
will depend on our earnings, financial condition, cash requirements and availability, fleet renewal and expansion, restrictions
in our loan agreements, the provisions of Marshall Islands law affecting the payment of dividends and other factors. The laws of
the Republic of Marshall Islands generally prohibit the payment of dividends other than from surplus (retained earnings and the
excess of consideration received for the sale of shares above the par value of the shares) or while a company is insolvent or would
be rendered insolvent by the payment of such a dividend. We may not have sufficient surplus in the future to pay dividends and
our subsidiaries may not have sufficient funds or surplus to make distributions to us. We can give no assurance that dividends
will be paid at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may be unable to attract and retain
qualified, skilled employees or crew necessary to operate our business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our success depends
in large part on the ability of us to attract and retain highly skilled and qualified personnel, both shoreside personnel and crew.
In crewing our vessels, we require technically skilled employees with specialized training who can perform physically demanding
work. Competition to attract and retain qualified crew members is intense due to the increase in the size of the global shipping
fleet. In addition, if we are not able to obtain higher charter rates to compensate for any crew cost increases, it could have
a material adverse effect on our business, results of operations, cash flows, financial condition and ability to pay dividends.
If we cannot hire, train and retain a sufficient number of qualified employees, we may be unable to manage, maintain and grow our
business, which could have a material adverse effect on our business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>As we expand our fleet, we will need
to expand our operations and financial systems and hire new shoreside staff and seafarers to staff our vessels; if we cannot expand
these systems or recruit suitable employees, our performance may be adversely affected.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, we have newbuilding contracts for ten dry bulk vessels. Our operating and financial systems may not be adequate as we expand
our fleet, and our attempts to implement those systems may be ineffective. In addition, we rely on our wholly-owned subsidiaries,
Star Bulk Management Inc., Star Bulk Shipmanagement Company (Cyprus) Limited, and Starbulk S.A., to recruit shoreside administrative
and management personnel and for crew management. Shoreside personnel are recruited by Star Bulk Management, Star Bulk Shipmanagement
Company (Cyprus) Limited, and Starbulk S.A. through referrals from other shipping companies and traditional methods of securing
personnel, such as placing classified advertisements in shipping industry periodicals. Star Bulk Management, Star Bulk Shipmanagement
Company (Cyprus) Limited, Starbulk S.A. and its crewing agent may not be able to continue to hire suitable employees as we expand
our fleet. If we are unable to operate our financial and operations systems effectively, recruit suitable employees or if our unaffiliated
crewing agent encounters business or financial difficulties, our performance may be materially and adversely affected and, among
other things, the amount of cash available for distribution as dividends to our shareholders may be reduced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>If we acquire and operate secondhand
vessels, we will be exposed to increased operating and other costs, which could adversely affect our earnings and, as our fleet
ages, the risks associated with older vessels could adversely affect our ability to obtain profitable charters.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our current business
strategy includes additional growth which may, in addition to the acquisition of newbuilding vessels, include the acquisition of
modern secondhand vessels. While we expect that we would typically inspect secondhand vessels prior to acquisition, this does not
provide us with the same knowledge about their condition that we would have had if these vessels had been built for and operated
exclusively by us. Generally, we, as a purchaser of secondhand vessels will not receive the benefit of warranties from the builders
for the secondhand vessels that we acquire. In addition, unforeseen maintenance, repairs, special surveys or dry docking may be
necessary for acquired secondhand vessels, which could also increase our costs and reduce our ability to employ the vessel to generate
revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Governmental regulations,
safety or other equipment standards related to the age of vessels may require expenditures for alterations or the addition of new
equipment, to our vessels and may restrict the type of activities in which the vessels may engage. As our vessels age, market conditions
may not justify those expenditures or enable us to operate our vessels profitably during the remainder of their useful lives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The aging of our vessels may result
in increased operating costs in the future, which could adversely affect our earnings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In general, the cost
of maintaining a vessel in good operating condition increases with the age of the vessel. As our vessels age they will typically
become less fuel-efficient and more costly to maintain than more recently constructed vessels due to improvements in engine technology.
Cargo insurance rates increase with the age of a vessel, making older vessels less desirable to charterers. Governmental regulations
and safety or other equipment standards related to the age of vessels may also require expenditures for alterations or the addition
of new equipment to our vessels and may restrict the type of activities in which our vessels may engage. As our vessels age, market
conditions may not justify those expenditures or may not enable us to operate our vessels profitably during the remainder of their
useful lives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Technological innovation could reduce
our charterhire income and the value of our vessels.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The charterhire rates
and the value and operational life of a vessel are determined by a number of factors including the vessel&#146;s efficiency, operational
flexibility and physical life. Efficiency includes speed, fuel economy and the ability to load and discharge cargo quickly. Flexibility
includes the ability to enter harbors, utilize related docking facilities and pass through canals and straits. The length of a
vessel&#146;s physical life is related to its original design and construction, its maintenance and the impact of the stress of
operations. If new dry bulk carriers are built that are more efficient or more flexible or have longer physical lives than our
vessels, competition from these more technologically advanced vessels could adversely affect the amount of charterhire payments
we receive for our vessels once their initial charters expire and the resale value of our vessels could significantly decrease.
In addition, although we view the fuel efficiency of our newbuilding Eco-type vessels as a competitive advantage, this competitive
advantage may eventually erode (along with vessel value) as more Eco-type vessels are put into service by our competitors and older,
less fuel-efficient vessels are retired. As a result, our business, results of operations, cash flows and financial condition could
be adversely affected by technological innovation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We rely on our information systems
to conduct our business, and failure to protect these systems against security breaches could adversely affect our business and
results of operations. Additionally, if these systems fail or become unavailable for any significant period of time, our business
could be harmed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">The efficient operation
of our business is dependent on computer hardware and software systems. Information systems are vulnerable to security breaches
by computer hackers and cyber terrorists. We rely on industry accepted security measures and technology to securely maintain confidential
and proprietary information maintained on our information systems. However, these measures and technology may not adequately prevent
security breaches. In addition, the unavailability of the information systems or the failure of these systems to perform as anticipated
for any reason could disrupt our business and could result in decreased performance and increased operating costs, causing our
business and results of operations to suffer. Any significant interruption or failure of our information systems or any significant
breach of security could adversely affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>In the highly competitive international
shipping industry, we may not be able to compete for charters with new entrants or established companies with greater resources,
and as a result, we may be unable to employ our vessels profitably.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our vessels will be
employed in a highly competitive market that is capital intensive and highly fragmented. Competition arises primarily from other
vessel owners, some of whom have substantially greater resources than we do. Competition for the transportation of dry bulk cargo
by sea is intense and depends on price, location, size, age, condition and the acceptability of the vessel and its operators to
the charterers. Due in part to the highly fragmented market, competitors with greater resources could enter the dry bulk shipping
industry and operate larger fleets through consolidations or acquisitions and may be able to offer lower charter rates and higher
quality vessels than we are able to offer. If we are unable to successfully compete with other dry bulk shipping companies, our
results of operations would be adversely impacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may be subject to litigation that,
if not resolved in our favor and not sufficiently insured against, could have a material adverse effect on us.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may be, from time
to time, involved in various litigation matters. These matters may include, among other things, contract disputes, shareholder
litigation, personal injury claims, environmental claims or proceedings, asbestos and other toxic tort claims, employment matters,
governmental claims for taxes or duties, and other litigation that arises in the ordinary course of our business. Although we intend
to defend these matters vigorously, we cannot predict with certainty the outcome or effect of any claim or other litigation matter,
and the ultimate outcome of any litigation or the potential costs to resolve them may have a material adverse effect on us. Insurance
may not be applicable or sufficient in all cases and/or insurers may not remain solvent which may have a material adverse effect
on our financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may have difficulty managing our
planned growth properly.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Historically, we have
grown through acquisitions, including the July 2014 Transactions and the Excel Transactions, and we have a number of newbuilding
vessels to be delivered. In addition, one of our strategies is to continue to grow by expanding our operations and adding to our
fleet. Our future growth will primarily depend upon a number of factors, some of which may not be within our control. These factors
include our ability to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">identify suitable dry bulk carriers, including newbuilding slots at shipyards and/or shipping companies
for acquisitions at attractive prices;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">obtain required financing for our existing and new operations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">identify businesses engaged in managing, operating or owning dry bulk carriers for acquisitions
or joint ventures;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">integrate any acquired dry bulk carriers or businesses successfully with our existing operations,
including obtaining any approvals and qualifications necessary to operate vessels that we acquire;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">hire, train and retain qualified personnel and crew to manage and operate our growing business
and fleet;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">identify additional new markets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enhance our customer base; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">improve our operating, financial and accounting systems and controls.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our failure to effectively
identify, acquire, develop and integrate any dry bulk carriers or businesses could adversely affect our business, financial condition
and results of operations. The number of employees that perform services for us and our current operating and financial systems
may not be adequate as we implement our plan to expand the size of our fleet in the dry bulk sector, and we may not be able to
effectively hire more employees or adequately improve those systems. Finally, acquisitions may require additional equity issuances,
which may dilute our common shareholders if issued at lower prices than the price they acquired their shares, or debt issuances
(with amortization payments), both of which could lower our available cash. If any such events occur, our financial condition may
be adversely affected. We cannot give any assurance that we will be successful in executing our growth plans or that we will not
incur significant expenses and losses in connection with our future growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>In the July 2014 Transactions, we acquired
a 50% interest in Heron, an entity we do not control.<SUP> </SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the July 2014 Transactions,
we acquired a convertible loan to Heron, which has been converted into 50% of the equity of Heron. Heron is a 50-50 joint venture
between Oceanbulk Shipping and ABY Group Holding Limited, and we share joint control over Heron with ABY Group Holding Limited.
Because of this arrangement, neither party entirely controls Heron, and any operational and other decisions with respect to Heron
need to be jointly agreed between Oceanbulk Shipping and ABY Group Holding Limited. As of February 29, 2016, all vessels previously
owned by Heron have been either sold to third parties or distributed to Heron&#146;s equity holders. As part of these distributions,
we acquired the two Heron Vessels. 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 us 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. Under
the Merger Agreement, we only agreed to issue 2,115,706 of our common shares and pay an amount of $25.0 million in cash, for the
acquisition of the two Heron Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Certain benefits we expect from the
2014 Transactions are based on projections and assumptions, which are uncertain and subject to change.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have made certain
estimates and assumptions with respect to certain benefits that we expect from the July 2014 Transactions that affect the reported
amounts of earnings, assets, liabilities, revenues, expenses, earnings per share and related information included in our historical
consolidated financial statements and pro forma financial information, as well as EBITDA and other measures derived from that information.
In addition, in connection with the Excel Transactions, we have made various estimates and assumptions with respect to the eventual
operations and chartering of the Excel Vessels as we acquire them. These estimates and assumptions may prove to be inaccurate or
may change in the future, and actual results could differ materially from those estimates or assumptions. There can be no assurance
that we will realize these benefits, including anticipated synergistic benefits, if any, as a result of the 2014 Transactions.
The market price of our common shares may decline if the estimates are not realized or we do not achieve the perceived benefits
of the 2014 Transactions, including perceived benefits to our cash flows and EBITDA, earnings and earnings per share, as rapidly
or to the extent anticipated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may experience impairment of the
value of long-lived assets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As described in &#147;Item
5. Operating and Financial Review and Prospects &ndash; A. Operating Results &ndash; Critical Accounting Policies &ndash; Impairment
of long-lived assets,&#148; due to the recent downturn in the dry bulk markets, we recognized an impairment loss of $322.0 million
as of December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The value of our long-lived
assets can become further impaired, as indicated by factors such as changes in our share price, book value or market capitalization,
and the past and anticipated operating performance and cash flows of operations. We will continue testing for impairment regularly,
whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We will be exposed to volatility in
the LIBOR and intend to selectively enter into derivative contracts, which can result in higher than market interest rates and
charges against our income.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The loans under our
credit facilities are generally advanced at a floating rate based on LIBOR, which has been stable, but was volatile in prior years,
which can affect the amount of interest payable on our debt, and which, in turn, could have an adverse effect on our earnings and
cash flow. In addition, in recent years, LIBOR has been at relatively low levels, and may rise in the future as the current low
interest rate environment comes to an end. Our financial condition could be materially adversely affected at any time that we have
not entered into interest rate hedging arrangements to hedge our exposure to the interest rates applicable to our credit facilities
and any other financing arrangements we may enter into in the future, including those we enter into to finance a portion of the
amounts payable with respect to newbuildings. Moreover, even if we have entered into interest rate swaps or other derivative instruments
for purposes of managing our interest rate exposure, our hedging strategies may not be effective and we may incur substantial losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We intend to selectively
enter into derivative contracts to hedge our overall exposure to interest rate risk exposure. Entering into swaps and derivatives
transactions is inherently risky and presents various possibilities for incurring significant expenses. The derivatives strategies
that we employ in the future may not be successful or effective, and we could, as a result, incur substantial additional interest
costs. See &#147;Item 11. Quantitative and Qualitative Disclosures about Market Risk&mdash;Interest Rate&#148; for a description
of our expected interest rate swap arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We have made and in the future may make
acquisitions and significant strategic investments and acquisitions, which may involve a number of risks. If we are unable to address
these risks successfully, such acquisitions and investments could have a materially adverse impact on our business, financial condition
and results of operations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have undertaken
a number of acquisitions and investments in the past, including the 2014 Transactions, and may do so from time to time in the future.
The risks involved with these acquisitions and investments include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the possibility that we may not receive a favorable return on our investment or incur losses from
our investment, or the original investment may become impaired;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">failure to satisfy or set effective strategic objectives;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our assumption of known or unknown liabilities or other unanticipated events or circumstances;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the diversion of management&#146;s attention from normal daily operations of the business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">difficulties in integrating the operations, technologies, products and personnel of the acquired
company or its assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">difficulties in supporting acquired operations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">difficulties or delays in the transfer of vessels, equipment or personnel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">failure to retain key personnel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">unexpected capital equipment outlays and related expenses;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">insufficient revenues to offset increased expenses associated with acquisitions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">under-performance problems with acquired assets or operations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">issuance of common shares that could dilute our current shareholders;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">recording of goodwill and non-amortizable intangible assets that will be subject to periodic impairment
testing and potential impairment charges against our future earnings;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the opportunity cost associated with committing capital in such investments;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">undisclosed defects, damage, maintenance requirements or similar matters relating to acquired vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">becoming subject to litigation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may not be able
to address these risks successfully without substantial expense, delay or other operational or financial problems. Any delays or
other such operations or financial problems could adversely impact our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our costs of operating as a public company
are significant, and our management is required to devote substantial time to complying with public company regulations.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a public company,
and as such, we have significant legal, accounting and other expenses in addition to our registration and listing expenses. In
addition, Sarbanes-Oxley, as well as rules subsequently implemented by the SEC and Nasdaq, has imposed various requirements on
public companies, including changes in corporate governance practices, and these requirements may continue to evolve. We and our
management personnel, and other personnel, if any, will need to devote a substantial amount of time to comply with these requirements.
Moreover, these rules and regulations increase our legal and financial compliance costs and make some activities more time-consuming
and costly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sarbanes-Oxley requires,
among other things, that we maintain and periodically evaluate our internal control over financial reporting and disclosure controls
and procedures. In particular, we need to perform system and process evaluation and testing of our internal control over financial
reporting to allow management and our independent registered public accounting firm to report on the effectiveness of our internal
control over financial reporting, as required by Section 404 of Sarbanes-Oxley. Our compliance with Section 404 may require that
we incur substantial accounting expenses and expend significant management efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>There is a risk that we could be treated
as a U.S. domestic corporation for U.S. federal income tax purposes after the merger of Star Maritime with and into Star Bulk,
with Star Bulk as the surviving corporation, or the Redomiciliation Merger, which would adversely affect our earnings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7874(b) of
the U.S. Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), provides that, unless certain requirements are satisfied,
a corporation organized outside of the United States which acquires substantially all of the assets (through a plan or a series
of related transactions) of a corporation organized in the United States will be treated as a U.S. domestic corporation for U.S.
federal income tax purposes if shareholders of the U.S. corporation whose assets are being acquired own at least 80% of the non-U.S.
acquiring corporation after the acquisition. If Section 7874(b) of the Code were to apply to Star Maritime and the Redomiciliation
Merger (as more specifically described in Item 4.A &#147;Information on the Company &ndash; History and development of the Company&#148;),
then, among other consequences, we, as the surviving entity of the Redomiciliation Merger, would be subject to U.S. federal income
tax as a U.S. domestic corporation on our worldwide income after the Redomiciliation Merger. Upon completion of the Redomiciliation
Merger and the concurrent issuance of stock to TMT Co. Ltd., or &#147;TMT&#148;, a shipping company headquartered in Taiwan,
under the acquisition agreements, the shareholders of Star Maritime owned less than 80% of the Company. Therefore, we believe that
the Company should not be subject to Section 7874(b) of the Code after the Redomiciliation Merger. Star Maritime obtained an opinion
of its counsel, Seward &amp; Kissel LLP, or &#147;Seward &amp; Kissel&#148;, that Section 7874(b) of the Code should not apply
to the Redomiciliation Merger. However, there is no authority directly addressing the application of Section 7874(b) of the Code
to a transaction such as the Redomiciliation Merger where shares in a foreign corporation such as the Company are issued concurrently
with (or shortly after) a merger. In particular, since there is no authority directly applying the &#147;series of related transactions&#148;
or &#147;plan&#148; provisions to the post-acquisition stock ownership requirements of Section 7874(b) of the Code, the U.S.
Internal Revenue Service, or the &#147;IRS&#148;, may not agree with Seward &amp; Kissel&#146;s opinion on this matter. Moreover,
Star Maritime has not sought a ruling from the IRS on this point. Therefore, the IRS may seek to assert that we are subject to
U.S. federal income tax on our worldwide income for taxable years after the Redomiciliation Merger, although Seward &amp; Kissel
is of the opinion that such an assertion should not be successful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may have to pay U.S. federal income tax on our U.S. source
income, which would reduce our earnings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Code, 50%
of the gross shipping income of a non-U.S. corporation, such as ourselves, that is attributable to transportation that begins or
ends, but that does not both begin and end, in the United States is characterized as &#147;United States source gross shipping
income,&#148; and such income is subject to a 4% U.S. federal income tax without allowance for any deductions, unless the corporation
qualifies for exemption from U.S. federal income taxation under Section 883 of the Code and the Treasury Regulations promulgated
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that we
qualify for the exemption from U.S. federal income taxation under Section 883 of the Code for our 2015 taxable year. Accordingly,
we believe that we will not be subject to the 4% U.S. federal income tax on our United States source gross shipping income for
our 2015 taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">However,
there are factual circumstances beyond our control that could cause us to lose the benefit of this tax exemption and thereby become
subject to U.S. federal income tax on our U.S. source shipping income in our subsequent taxable years. For example, we would no
longer qualify for exemption under Section 883 of the Code for a subsequent taxable year if certain &#147;non-qualified&#148;
shareholders with a five percent or greater interest in our common shares owned, in the aggregate, 50% or more of our outstanding
common shares for more than half of the days during such taxable year. Due to the factual nature of the issues involved, it is
possible that our tax-exempt status may change.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a significant portion
of our income is United States source gross shipping income, the imposition of such tax could have a negative effect on our business
and would result in decreased earnings available for distribution to our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Internal Revenue Service could treat
us as a &#147;passive foreign investment company,&#148; which could have adverse U.S. federal income tax consequences to U.S.
shareholders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A non-U.S. corporation
will be treated as a &#147;passive foreign investment company&#148; (a &#147;PFIC&#148;) for U.S. federal income tax purposes
if either (1) at least 75% of its gross income for any taxable year consists of certain types of &#147;passive income&#148; (e.g.,
dividends, interest, capital gains and rents derived other than in the active conduct of a rental business) or (2) at least 50%
of the average value of the corporation&#146;s assets produce or are held for the production of passive income. For purposes of
determining the PFIC status of a non-U.S. corporation, income earned in connection with the performance of services does not constitute
passive income, but rental income generally is treated as passive income unless the non-U.S. corporation is treated under specific
rules as deriving its rental income in the active conduct of a trade or business. We intend to take the position that income we
derive from our voyage and time chartering activities is services income, rather than rental income, and accordingly, that such
income is not passive income for purposes of determining our PFIC status. Based on this characterization of income from voyage
and time charters and the expected composition of our income and assets, we believe that we currently are not a PFIC, and we do
not expect to become a PFIC in the future. Additionally, we believe that our contracts for newbuilding vessels are not assets held
for the production of passive income, because we intend to use these vessels for voyage and time chartering activities. However,
there is no direct legal authority under the PFIC rules addressing our characterization of income from our voyage and time chartering
activities nor our characterization of contracts for newbuilding vessels. Moreover, the determination of PFIC status for any year
can only be made on an annual basis after the end of such taxable year and will depend on the composition of our income, assets
and operations from time to time. Because of the above described uncertainties, there can be no assurance that the Internal Revenue
Service will not challenge the determination made by us concerning our PFIC status or that we will not be a PFIC for any taxable
year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we were classified
as a PFIC for any taxable year during which a U.S. shareholder owns common shares (regardless of whether we continue to be a PFIC),
the U.S. shareholder would be subject to special adverse rules, including taxation at maximum ordinary income rates plus an interest
charge on both gains on sale and certain dividends, unless the U.S. shareholder makes an election to be taxed under an alternative
regime. Certain elections may be available to U.S. shareholders if we were classified as a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Risks Related to Our Relationships
with Mr. Pappas, Oaktree and Other Parties</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Affiliates of Oaktree own a majority
of our common shares, subject to certain restrictions on voting, acquisitions and dispositions thereof.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, Oaktree and its affiliates beneficially own 114,304,005 common shares, which would represent approximately 52.2%
of our outstanding common shares. However, pursuant to the Oaktree Shareholders Agreement, Oaktree and certain affiliates thereof
have agreed to voting restrictions, ownership limitations and standstill restrictions. For instance, Oaktree and its affiliates
will be entitled to nominate a maximum of four out of nine members of our board of directors, subject to certain additional limitations.
In addition, Oaktree and its affiliates will be required to vote their voting securities in excess of 33% of the outstanding voting
securities (subject to adjustment as set forth in the Oaktree Shareholders Agreement) proportionately with the votes cast by the
other shareholders, subject to certain exceptions, which include (i) voting against a change of control transaction with an unaffiliated
buyer and (ii) voting in favor of a change of control transaction with an unaffiliated buyer (but only if such transaction is
approved by a majority of disinterested directors). In addition, Oaktree and affiliates thereof will be subject to certain standstill
restrictions, and may not receive a control premium for their common shares as part of a change of control transaction. Despite
the foregoing limitations, Oaktree and its affiliates are able to exert considerable influence over us. Oaktree and its affiliates
may be able to prevent or delay a change of control of us and could preclude any unsolicited acquisition of us. The concentration
of ownership and voting power in Oaktree may make some transactions more difficult or impossible without the support of Oaktree,
even if such events are in the best interests of our other shareholders. The concentration of voting power in Oaktree may have
an adverse effect on the price of our common shares. As a result of such influence, we may take actions that our other shareholders
do not view as beneficial, which may adversely affect our results of operations and financial condition and cause the value of
your investment to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, Oaktree
is in the business of making investments in companies and currently holds, and may from time to time in the future acquire, interests
in the shipping industry that directly or indirectly compete with certain portions of our business. Further, if Oaktree pursues
acquisitions or makes further investments in the shipping industry, those acquisitions and investment opportunities may not be
available to us, and we have agreed to renounce any interest or expectancy in, or in being offered an opportunity to participate
in, any corporate opportunities that may be presented to or become known to Oaktree or any of its affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the members
of the board of directors nominated by Oaktree will have fiduciary duties to us and in addition may have duties to Oaktree. As
a result, such circumstances may entail real or apparent conflicts of interest with respect to matters affecting both us and Oaktree,
whose interests, in some circumstances, may be adverse to ours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Chief Executive Officer, Mr. Petros
Pappas, and certain members of his family have affiliations with Oceanbulk Maritime S.A. (&#147;Oceanbulk Maritime&#148;), Interchart
Shipping Inc. (&#147;Interchart&#148;) and other ventures, which could create conflicts of interest. Certain members of our senior
management also have affiliations with Oceanbulk Maritime and other ventures that could create conflicts of interest.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While we do not expect
that our Chief Executive Officer, Mr. Petros Pappas, will have any material relationships with any companies in the dry bulk shipping
industry other than us, he will continue to be involved in other areas of the shipping industry, including as the founder of Oceanbulk
Maritime, a dry cargo shipping company, and as a member of the management of Oceanbulk Container Carriers LLC, and PST Tankers
LLC, which are other joint ventures between Oaktree and entities controlled by the family of Mr. Petros Pappas involved in the
container shipping and product tanker businesses, respectively. Ms. Milena-Maria Pappas is a significant equity holder of Oceanbulk
Maritime and Interchart, a charter broker company, and an equity holder in various other entities, some of which are involved in
the dry bulk shipping industry. These other affiliations and ventures could cause distraction to Mr. Pappas as our Chief Executive
Officer if he focuses a substantial portion of his time on them, and the involvement of Ms. Pappas with other ventures could cause
conflicts of interest with us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain members of
our senior management (Messrs. Norton, Begleris, Spyrou and Rescos and Ms. Damigou) are also members of the management of Oceanbulk
Maritime, Oceanbulk Container Carriers LLC or PST Tankers LLC. These other affiliations and ventures could cause distraction to
such members of senior management if they focus a substantial portion of their time on such affiliations and ventures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any of these affiliations
and relationships of Mr. Pappas, certain members of his family and certain members of our senior management may create conflicts
of interest not in the best interest of us or our shareholders from time to time. This could result in an adverse effect on our
business, financial condition, results of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>As a &#147;foreign private issuer&#148;
under the Securities Exchange Act of 1934, we are permitted to, and we may, rely on exemptions from certain corporate governance
standards of the Nasdaq, including, among others, the requirement that a majority of our board of directors consist of independent
directors. Our reliance upon such exemptions may afford less protection to holders of our common shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The corporate governance
rules of the Nasdaq require, subject to exceptions, listed companies to have, among other things, a majority of their board members
be independent and independent director oversight of executive compensation, nomination of directors and corporate governance matters.
Nevertheless, a &#147;foreign private issuer&#148; (as defined in Rule 3b-4 of the Exchange Act) is permitted to follow its home
country practice in lieu of the above requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a foreign private
issuer, and, as such, we may follow the laws of the Republic of the Marshall Islands, our home country, with respect to the foregoing
requirements. For example, our board of directors is not required by the laws of the Republic of the Marshall Islands to have a
majority of independent directors, so, while our board of directors includes seven members that would likely be deemed independent
for purposes of the Nasdaq rules, we are not required to comply with the Nasdaq rule that requires us to have a majority of independent
directors, and we may in the future have less than a majority of directors who would be deemed independent for purposes of the
Nasdaq rules. Consequently, for so long as we remain a foreign private issuer, the approach of our board of directors may be different
from that of a board of directors required to have a majority of independent directors, and as a result, our management oversight
may be more limited than if we were required to comply with the Nasdaq rules applicable to U.S. domestic listed companies. If in
the future we lose our status as a foreign private issuer, we would be required to comply with the rules of the Nasdaq applicable
to U.S. domestic listed companies within six months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may lose our foreign private issuer
status in the future, which could result in significant additional costs and expenses.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a &#147;foreign
private issuer,&#148; and therefore, we are not required to comply with all of the periodic disclosure and current reporting requirements
of the Exchange Act applicable to U.S. domestic companies whose securities are registered under the Exchange Act. The determination
of foreign private issuer status is made annually on the last business day of an issuer&#146;s most recently completed second
fiscal quarter, and accordingly the next determination will be made with respect to us on June 30, 2016. We will lose our foreign
private issuer status if more than 50% of our outstanding voting securities are directly or indirectly held of record by residents
of the U.S., and:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">more than a majority of our executive officers and directors are U.S. citizens or residents;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">more than 50% of our assets are located in the U.S.; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our business is administered principally in the U.S.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may therefore lose
our foreign private issuer status in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we were to lose
our foreign private issuer status, we would be required to file with the SEC periodic reports and registration statements on U.S.
domestic issuer forms, which are more detailed and extensive than the forms available to a foreign private issuer. We would also
have to comply with U.S. federal proxy requirements, and our officers, directors and 10% shareholders would become subject to the
short-swing profit disclosure and recovery provisions of Section 16 of the Exchange Act. In addition, we would lose our ability
to rely upon exemptions from certain Nasdaq corporate governance requirements. As a result, the regulatory and compliance costs
to us under U.S. securities laws as a U.S. domestic issuer could be significantly higher.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our directors who have relationships
with Oaktree may have conflicts of interest with respect to matters involving us.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Three of our directors
are affiliated with Oaktree. These persons will have fiduciary duties to us and in addition will have duties to Oaktree. In addition,
under the Oaktree Shareholders Agreements, none of our officers or directors who is also an officer, director, employee or other
affiliate of Oaktree or an officer, director or employee of an affiliate of Oaktree will be liable to us or our shareholders for
breach of any fiduciary duty by reason of the fact that any such individual directs a corporate opportunity to Oaktree or its affiliates
instead of us, or does not communicate information regarding a corporate opportunity to us that such person or affiliate has directed
to Oaktree or its affiliates. As a result, such circumstances may entail real or apparent conflicts of interest with respect to
matters affecting both us and Oaktree, whose interests, in some circumstances, may be adverse to ours. In addition, as a result
of Oaktree&#146;s ownership interest, conflicts of interest could arise with respect to transactions involving business dealings
between us and Oaktree or their affiliates, including potential business transactions, potential acquisitions of businesses or
properties, the issuance of additional securities, the payment of dividends by us and other matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our executive officers will not devote
all of their time to our business, which may hinder our ability to operate successfully.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our executive officers
participate in business activities not associated with us, including serving as members of the management teams of Oceanbulk Maritime
(which is affiliated with the Pappas family), Oceanbulk Container Carriers LLC and PST Tankers LLC (which are both affiliated with
Oaktree and entities controlled by the family of Mr. Petros Pappas), and are not required to work full-time on our affairs. Initially,
we expect that each of our executive officers will devote a substantial portion of his/her business time to the completion of our
newbuilding program and management of our Company. Our executive officers may devote less time to us than if they were not engaged
in other business activities and may owe fiduciary duties to the shareholders of other companies with which they may be affiliated,
including those companies listed above. In particular, we expect that the amount of time Mr. Pappas allocates to managing us will
vary from time to time depending on the needs of the business and the level of strategic activity at the time. This structure may
create conflicts of interest in matters involving or affecting us and our customers and it is not certain that any of these conflicts
of interest will be resolved in our favor. This could have a material adverse effect on our business, financial condition, results
of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are dependent on our managers and
their ability to hire and retain key personnel.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our success depends
to a significant extent upon the abilities and efforts of our management team. For example, Mr. Pappas is integral to our business,
and our success depends significantly on his abilities, industry knowledge and relationships. We do not maintain &#147;key man&#148;
life insurance on any of our officers, and the loss of any of these individuals could adversely affect our business prospects and
financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our continued success
will depend upon our and our managers&#146; ability to hire and retain key members of our management team. Difficulty in hiring
and retaining personnel could adversely affect our results of operations. In crewing our vessels, we require technically skilled
employees with specialized training who can perform physically demanding work. Competition to attract and retain qualified crew
members is intense due to the increase in the size of the global shipping fleet. If we are not able to obtain higher charter rates
to compensate for any crew cost increases, it could have a material adverse effect on our business, results of operations, cash
flows and financial condition. If we cannot hire, train and retain a sufficient number of qualified employees, we may be unable
to manage, maintain and grow our business, which could have a material adverse effect on our business, financial condition, results
of operations and cash flows. As we expand our fleet, we will also need to expand our operational and financial systems and hire
new shoreside staff and seafarers to crew our vessels; if we cannot expand these systems or recruit suitable employees, its performance
may be adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Risks Related to Our Corporate Structure
and Our Common Shares</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are a holding company, and we depend
on the ability of our subsidiaries to distribute funds to us in order to satisfy our financial obligations and to make dividend
payments.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a holding company
and our subsidiaries conduct all of our operations and own all of our operating assets. We have no significant assets other than
the equity interests in our subsidiaries. As a result, our ability to satisfy our financial obligations and to make dividend payments
in the future depends on our subsidiaries and their ability to distribute funds to us. If we are unable to obtain funds from our
subsidiaries, our board of directors may exercise its discretion not to declare or pay dividends. We do not intend to obtain funds
from other sources to pay dividends. Furthermore, certain of our outstanding financing arrangements restrict the ability of some
of our subsidiaries (which are the parent companies of various shipowning subsidiaries) to pay us dividends under certain circumstances
(such as if an event of default exists, if certain dates have not passed and/or if certain financial ratios are not met). See Note
8, &#147;Long Term Debt&#148; to our audited consolidated financial statements, for more information regarding these restrictions
contained in our historical financing arrangements. To the extent we do not receive dividends from our subsidiaries, our ability
to pay dividends will be restricted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Because we are organized under the laws
of the Marshall Islands and because substantially all of our assets are located outside of the United States, it may be difficult
to serve us with legal process or enforce judgments against us, our directors or our management.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are organized under
the laws of the Marshall Islands and substantially all of our assets are located outside of the United States. In addition, the
majority of our directors and officers are or will be non-residents of the United States and all or a substantial portion of the
assets of these non-residents are located outside the United States. As a result, it may be difficult or impossible for you to
bring an action against us or against our directors and officers in the United States if you believe that your rights have been
infringed under securities laws or otherwise. Even if you are successful in bringing an action of this kind, the laws of the Marshall
Islands and of other jurisdictions may prevent or restrict you from enforcing a judgment against our assets or the assets of our
directors or officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are incorporated in the Marshall
Islands, which does not have a well-developed body of corporate law.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our corporate affairs
are governed by our Third Amended and Restated Articles of Incorporation (the &#147;Articles of Incorporation&#148;) and our
Third Amended and Restated Bylaws (the &#147;Bylaws&#148;) and by the Marshall Islands Business Corporations Act (the &#147;MIBCA&#148;).
The provisions of the MIBCA resemble provisions of the corporation laws of a number of states in the United States. However, there
have been few judicial cases in the Marshall Islands interpreting the MIBCA. The rights and fiduciary responsibilities of directors
under the laws of the Marshall Islands are not as clearly established as the rights and fiduciary responsibilities of directors
under statutes or judicial precedent in existence in the United States. The rights of shareholders of companies incorporated in
the Marshall Islands may differ from the rights of shareholders of companies incorporated in the United States. While the MIBCA
provides that it is to be interpreted according to the laws of the State of Delaware and other states with substantially similar
legislative provisions, there have been few, if any, court cases interpreting the MIBCA in the Marshall Islands and we cannot predict
whether Marshall Islands courts would reach the same conclusions as United States courts. Thus, you may have more difficulty in
protecting your interests in the face of actions by the management, directors or controlling shareholders than would shareholders
of a corporation incorporated in a United States jurisdiction that has developed a relatively more substantial body of case law.
Additionally, the Republic of the Marshall Islands does not have a legal provision for bankruptcy or a general statutory mechanism
for insolvency proceedings. As such, in the event of a future insolvency or bankruptcy, our shareholders and creditors may experience
delays in their ability to recover their claims after any such insolvency or bankruptcy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The price of our common shares may be
highly volatile.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The price of our common
shares may fluctuate due to factors such as:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">actual or anticipated fluctuations in our quarterly and annual results and those of other public
companies in our industry;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">mergers and strategic alliances in the dry bulk shipping industry;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">market conditions in the dry bulk shipping industry;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">changes in government regulation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the failure of securities analysts to publish research about us, or shortfalls in our operating
results from levels forecast by securities analysts;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">announcements concerning us or our competitors; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the general state of the securities markets.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The seaborne transportation
industry has been highly unpredictable and volatile. The market for our common shares in this industry may be equally volatile.
Consequently, you may not be able to sell the common shares at prices equal to or greater than those paid by you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Future sales of our common shares could
cause the market price of our common shares to decline.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Articles of Incorporation
authorize us to issue common shares, of which 219,105,712 shares had been issued and were outstanding as of February 29, 2016.
Sales of a substantial number of shares of our common shares in the public market, or the perception that these sales could occur,
may depress the market price for our common shares. These sales could also impair our ability to raise additional capital through
the sale of our equity securities in the future. We intend to issue additional shares of our common shares in the future. Our shareholders
may incur dilution from any future equity offering and upon the issuance of additional shares of our common shares upon the exercise
of options we grant to certain of our executive officers or upon the issuance of additional common shares pursuant to our equity
incentive plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may fail to meet the continued listing
requirements of&nbsp;the Nasdaq, which could cause our common shares to be&nbsp;delisted.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the listing
requirements of the Nasdaq Global Select Market, if a company&#146;s share price is below $1.00 per share for 30 consecutive trading
days, Nasdaq will notify the company that it is no longer in compliance with the Nasdaq listing qualifications, which are set forth
in Nasdaq Listing Rule 5450(a). If a company is not in compliance with the minimum bid price rule, the company will have 180 calendar
days to regain compliance. The company may regain compliance if the bid price of its common shares closes at $1.00 per share or
more for a minimum of 10 consecutive business days at any time during the 180 day cure period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 6, 2016,
we received notice from Nasdaq that the minimum bid price for our common shares was below $1.00 per share for a period of 30 consecutive
business days, and that we therefore did not meet the minimum bid price requirement for the Nasdaq Global Select Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common shares will
continue to be listed on and trade on the Nasdaq Global Select Market under the symbol &#147;SBLK&#148;, as the Nasdaq notification
letter does not result in the immediate delisting of the our common shares. If we do not regain compliance until July 5, 2016,
we may be eligible for an additional grace period if we satisfy the continued listing requirement for market value of publicly
held shares and all other initial listing standards, with the exception of the bid price requirement, and provide written notice
of our intention to cure the deficiency during the second compliance period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There can be no assurance
that we will regain compliance with the minimum bid price requirement, remain in compliance with the other Nasdaq listing qualification
rules, or that our common shares will not be delisted. A delisting of our common shares could have an adverse effect on the market
price, and the efficiency of the trading market for, our common shares and could cause an event of default under certain of our
Senior Secured Credit Facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We may effect a&nbsp;reverse stock split,
following which the price of our common share may decline, the liquidity of our shares may decrease, and we may not be able to
attract new investors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 21, 2015,
our shareholders, in a duly held special meeting, approved a reverse stock split of our issued and outstanding common shares by
a ratio of not less than one-for-three and not more than one-for-ten, with the exact ratio to be set at a whole number within this
range, to be determined by our Board. Our shareholders approved the&nbsp;reverse stock split,&nbsp;so our Board may authorize the
implementation of this reverse split to achieve the requisite increase in the market price of our common shares to be in compliance
with the minimum price requirements of the Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We cannot assure you
that the market price of our common shares following a&nbsp;reverse stock split&nbsp;will remain at the level required for continuing
compliance with that requirement. It is not uncommon for the market price of a company&#146;s common shares to decline in the
period following a&nbsp;reverse stock split. If the market price of our common shares declines following the effectuation of the&nbsp;reverse
stock split, the percentage decline may be greater than would occur in the absence of the&nbsp;reverse stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Further, the liquidity
of the shares of our common shares may be affected adversely by a&nbsp;reverse stock split&nbsp;given the reduced number of shares
that will be outstanding following the&nbsp;reverse stock split, especially if the market price of our common shares does not increase
as a result of the&nbsp;reverse stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, although
we believe that a higher market price of our common shares may help generate greater or broader investor interest, we cannot assure
you that the&nbsp;reverse stock split&nbsp;will result in a share price that will attract new investors, including institutional
investors. In addition, there can be no assurance that the market price of our common shares will satisfy the investing requirements
of those investors. As a result, the trading liquidity of our common shares may not necessarily improve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Certain shareholders hold registration
rights, which may have an adverse effect on the market price of our common shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 20, 2011,
we filed a registration statement on Form S-8 (File No. 333-176922) that covers the resale of up to 311,006 of our common shares
that have been issued under our 2007, 2010 and 2011 equity incentive plans. We have included 485,783 common shares for resale in
a universal shelf registration statement (File No. 333-180674), which was declared effective by the Securities and Exchange Commission
(the &#147;Commission&#148;) on July 17, 2012. A Form F-3 registration statement for 7,731,776 common shares was filed with the
SEC pursuant to a registration rights agreement and declared effective on November 12, 2013 for shares held by Oaktree and Monarch.
On July 11, 2014, we entered into the Registration Rights Agreement. For more information regarding the terms of the Registration
Rights Agreement, &#147;Item 7. Major Shareholders and Related Party Transactions&mdash;B. Related Party Transactions.&#148;
Pursuant to the Registration Rights Agreement, we filed a Form F-3 registration statement (Registration No. 333-197886), registering
the resale of 67,258,287 common shares to be sold by certain selling shareholders listed therein, which was declared effective
on September 25, 2014. In addition, the Registration Rights Agreement also provides the Oaktree Seller and its affiliates with
certain demand registration rights and the Oaktree Seller, Pappas Seller, Monarch, Angelo, Gordon and Excel and certain affiliates
thereof with certain shelf registration rights in respect of any common shares held by them (including the 29,917,312 common shares
to be issued as the Excel Vessel Share Consideration, the 37,250,418 common shares purchased by Oaktree, Angelo, Gordon, Monarch
and affiliates of the family of Mr. Pappas in the January 2015 Equity Offering and the 21,562,500 common shares purchased by Oaktree,
Monarch and affiliates of the family of Mr. Pappas in the May 2015 Equity Offering), subject to certain conditions. As a result
of the Excel Transactions and pursuant to the Registration Rights Agreement, we filed another Form F-3 registration statement (Registration
No. 333-198832) registering the resale of 29,917,312 common shares to be issued to Excel as the Excel Vessel Share Consideration,
and the 37,250,418 common shares purchased by Oaktree, Angelo, Gordon, Monarch and affiliates of the family of Mr. Petros Pappas
in the January 2015 Equity Offering. This registration statement was declared effective on February 25, 2015. In addition, in the
event that we register additional common shares for sale to the public following the closing of the 2014 Transactions, we will
be required to give notice to the Oaktree Seller, Pappas Seller, Monarch, Angelo, Gordon and Excel, and certain affiliates thereof
of its intention to effect such registration and, subject to certain limitations, we will be required to include common shares
held by those holders in such registration. The resale of these common shares in addition to the offer and sale of the other securities
included in such registration statements may have an adverse effect on the market price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Anti-takeover provisions in our organizational
documents could have the effect of discouraging, delaying or preventing a merger or acquisition, or could make it difficult for
our shareholders to replace or remove our current board of directors, which could adversely affect the market price of our common
shares.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Several provisions
of our Articles of Incorporation and our Bylaws could make it difficult for our shareholders to change the composition of our board
of directors in any one year, preventing them from changing the composition of management. In addition, the same provisions may
discourage, delay or prevent a merger or acquisition that shareholders may consider favorable. These provisions include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">authorizing our board of directors to issue &#147;blank check&#148; preferred stock without shareholder
approval;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">providing for a classified board of directors with staggered, three-year terms;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">establishing certain advance notice requirements for nominations for election to our board of directors
or for proposing matters that can be acted on by shareholders at shareholder meetings;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">prohibiting cumulative voting in the election of directors;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">limiting the persons who may call special meetings of shareholders;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">authorizing the removal of directors only for cause and only upon the affirmative vote of the holders
of a majority of the outstanding shares of our common shares entitled to vote for the directors; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">establishing supermajority voting provisions with respect to amendments to certain provisions of
our Articles of Incorporation and our Bylaws.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These anti-takeover
provisions could substantially impede the ability of public shareholders to benefit from a change in control and, as a result,
may adversely affect the market price of our common shares and your ability to realize any potential change of control premium.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 4.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Information on the Company</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">History and Development of the Company</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We were incorporated
in the Marshall Islands on December 13, 2006. Our executive offices are located at c/o Star Bulk Management Inc., 40 Agiou Konstantinou
Str., Maroussi 15124, Athens, Greece and its telephone number is 011-30-210-617-8400.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Maritime Acquisition
Corp. (&#147;Star Maritime&#148;), was organized under the laws of the State of Delaware on May 13, 2005 as a blank check company
formed to acquire, through a merger, capital stock exchange, asset acquisition or similar business combination, one or more assets
or target businesses in the shipping industry. Following the formation of Star Maritime, its officers and directors were the holders
of 601,795 common shares representing all of its then issued and outstanding capital stock. On December 21, 2005, Star Maritime
consummated its initial public offering of 1,257,833 units, at a price of $150.00 per unit, each unit consisting of one share of
Star Maritime common stock and one warrant to purchase one share of Star Maritime common stock at an exercise price of $120.00
per share. During December 2005, Star Maritime also completed a private placement of an aggregate of 75,500 units, each unit consisting
of one share of common stock and one warrant to purchase one share of Star Maritime common stock at an exercise price of $120.00
per share, to Mr. Petros Pappas, our Chief Executive Officer and one of our directors, Mr. Koert Erhardt, one of our directors,
Mr. Prokopios Tsirigakis, our former Chief Executive Officer and former director, and Mr. George Syllantavos, our former Chief
Financial Officer and former director. The $11.3 million gross proceeds of the private placement were used to pay all fees and
expenses of the initial public offering and as a result, the $188.7 million gross proceeds of the initial public offering were
deposited in a trust account maintained by American Stock Transfer &amp; Trust Company, LLC. Star Maritime&#146;s common stock
and warrants started trading on the American Stock Exchange under the symbols, SEA and SEA.WS, respectively on December 21, 2005.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 12, 2007,
Star Maritime and Star Bulk entered into definitive agreements to acquire a fleet of eight dry bulk carriers, with a combined cargo-carrying
capacity of approximately 692,000 dwt, from certain subsidiaries of TMT Co, Ltd, a global shipping company with management headquarters
in Taiwan (&#147;TMT&#148;). These eight dry bulk carriers are referred to as the initial fleet. The aggregate purchase price
specified in the Master Agreement by and among Star Bulk, Star Maritime and TMT (the &#147;Master Agreement&#148;), for the initial
fleet was $224.5 million in cash and 835,843 of our common shares, which were issued on November 30, 2007. As additional consideration
for the eight vessels, we agreed to issue 107,130 common shares to TMT in two installments as follows: (i) 53,565 additional common
shares, no more than 10 business days following the filing of the Annual Report on Form 20-F for the fiscal year ended December
31, 2007, and (ii) 53,565 additional common shares, no more than 10 business days following the filing of the Annual Report on
Form 20-F for the fiscal year ended December 31, 2008. The shares in respect of the first installment were issued to a nominee
of TMT on July 17, 2008 and the shares in respect of the second installment were issued to a nominee of TMT on April 28, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 2, 2007,
the Commission declared effective our joint proxy/registration statement filed on Forms F-1/F-4 and on November 27, 2007, we obtained
shareholders&#146; approval for the acquisition of the initial fleet and for effecting the Redomiciliation Merger as a result
of which Star Maritime merged into Star Bulk with Star Maritime merging out of existence and Star Bulk being the surviving entity.
Each share of Star Maritime&#146;s common stock was exchanged for one of our common shares and each warrant of Star Maritime was
assumed by us with the same terms and conditions except that each became exercisable for our common shares. The Redomiciliation
Merger became effective on November 30, 2007, and the common shares and warrants of Star Maritime ceased trading on the American
Stock Exchange under the symbols SEA and SEA.WS, respectively. Our common shares and warrants started trading on the Nasdaq Global
Select Market on December 3, 2007, under the ticker symbols SBLK and SBLKW, respectively. All of our warrants expired worthless
and ceased trading on the Nasdaq Global Select Market on March 15, 2010. We began our operations on December 3, 2007, with the
delivery of our first vessel <I>Star Epsilon</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 25, 2014,
we acquired 33% of the total outstanding common stock of Interchart, a Liberian company affiliated with family members of our Chief
Executive Officer, which acts as chartering broker to our fleet, for a total consideration of $0.2 million in cash and 22,598 restricted
common shares issued on April 1, 2014. The ownership interest was purchased from an entity affiliated with family members of our
Chief Executive Officer, including our former director Ms. Milena-Maria Pappas. On the same date, we entered into a services agreement,
with Interchart for chartering, brokering and commercial services for our vessels for an annual fee of &euro;0.5 million (approximately
$0.55 million, using the exchange rate as of December 31, 2015, eur/usd 1.09). In November 2014, we entered into a new agreement
with Interchart for chartering, brokering and commercial services for all of our vessels for a monthly fee of $0.3 million. The
agreement was effective from October 1, 2014 until March 31, 2015, and upon its expiry was immediately renewed until December 31,
2016. The previous agreement with Interchart, dated February 25, 2014, was terminated when this agreement became effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Beginning in July 2014,
we entered into the Merger, the Heron Transaction, the Pappas Transaction and the Excel Transactions that greatly expanded our
fleet, as described in &#147;Item 3. Key Information&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vessel Acquisitions, Newbuilding Vessels, Bareboat
Charters, Dispositions and Other Significant Transactions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vessel Acquisitions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 5, 2013,
we entered into two agreements with two third parties to acquire <I>Star Challenger</I> and <I>Star Fighter</I>. <I>Star Challenger</I>
and <I>Star Fighter</I> are Ultramax vessels of 61,462 dwt and 61,455 dwt, built in 2012 and 2013, respectively. The vessels were
delivered to us on December 12, 2013 and on December 30, 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 24, 2014,
we entered into agreements to acquire <I>Star Vega</I> and <I>Star Sirius</I> from Glocal Maritime Ltd., a third party. Both<I>
Star Vega</I> and <I>Star Sirius</I> are Post Panamax vessels of 98,681 dwt each, built in 2011. The vessels were delivered to
us on February 13, 2014 and March 7, 2014, respectively. Upon their delivery, the vessels were chartered back to Glocal Maritime
Ltd. for a daily rate of $15,000, with the duration of their charters lasting at least until June 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Newbuilding Vessels</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 5, 2013, we
entered into agreements with Shanghai Waigaoqiao Shipbuilding Co. (&#147;SWS&#148;) for the construction of two 180,000 dwt Capesize
vessels, with fuel efficient specifications, <I>Star Aries </I>(ex-Hull 1338) delivered to us on February 29, 2016 and sold on
the same date, and Hull 1339 (tbn <I>Star Taurus</I>), with expected delivery in May 2016, which we have agreed to sell upon its
delivery to us from the shipyard (as discussed below &#147;&ndash;Vessel Dispositions&#148;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 23, 2013,
we entered into agreements with SWS for the construction of two 208,000 dwt Newcastlemax vessels, with fuel efficient specifications,
Hull 1342 (tbn <I>Star Gemini) </I>and Hull 1343 (tbn <I>Star Leo</I>), with expected deliveries in July 2017 and January 2018,
respectively. We agreed to sell and lease back Hull 1343 (tbn <I>Star Leo</I>)<I> </I>upon its delivery to us from the shipyard
as described below &#147;&ndash;Bareboat Charters&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 27, 2013,
we entered into agreements with Nantong COSCO KHI Ship Engineering Co. (&#147;NACKS&#148;) for the construction of two 61,000
dwt Ultramax vessels, <I>Star Antares </I>(ex-Hull NE 196) and <I>Star Lutas</I> (ex-Hull NE 197), and one 209,000 dwt Newcastlemax
vessel, <I>Star Poseidon</I> (ex-Hull NE 198), each with fuel efficient specifications, delivered to us in October 2015, January
2016 and February 2016, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 22, 2013,
we entered into contracts with Japan Marine United Corporation (&#147;JMU&#148;), for the construction of two 60,000 dwt Ultramax
vessels, <I>Star Acquarius </I>(ex Hull 5040) and <I>Star Pisces </I>(ex Hull 5043), with fuel efficient specifications, which
were delivered to us in July 2015 and August 2015, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bareboat Charters</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2014,
we entered into agreements (the &#147;Bareboat Charters&#148;) with CSSC (Hong Kong) Shipping Company Limited (&#147;CSSC&#148;),
an affiliate of SWS, to bareboat charter for ten years two fuel efficient Newcastlemax vessels, each with a cargo carrying capacity
of 208,000 deadweight tons. 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 us 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, we are required to pay upfront fees, corresponding to
the pre-delivery installments to the shipyard. An amount of $43.2 million and $40.0 million, respectively, 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 we will pay a daily bareboat charter hire rate payable monthly plus a variable amount. In addition, we paid an amount of $0.9
million, representing handling fees for the construction of the two vessels in two installments, in February 2014 and February
2015, respectively. Under the terms of the Bareboat Charters, we have the option to purchase the CSSC Vessels at any time, such
option being exercisable on a monthly basis against a predetermined, amortizing-during-the-charter-period prices and the obligation
to purchase the two vessels at the expiration of the bareboat term at a purchase price of $13.0 million and $12.0 million, respectively.
Upon the earlier of the exercise of the purchase options or the expiration of the Bareboat Charters, we will own the CSSC Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 31, 2015,
we entered into a non-binding term sheet for the sale of one of our newbuilding vessels HN 1343 (tbn <I>Star Leo</I>) and a 10-year
lease back arrangement with CSSC, in order to finance up to $40.0 million for the vessel&#146;s delivery installment. The final
agreements, which include the memorandum of agreement and bareboat lease agreement, are expected to be signed in March
2016. Pursuant to the terms of the bareboat charter, we will pay a fixed bareboat charter hire rate payable monthly plus
a variable amount. In addition, we will also pay $0.5 million representing handling fees in two installments. Under the terms
of the bareboat charter, we have the option to purchase the vessel at any time, such option being exercisable on a monthly basis
against pre-determined, amortizing-during-the-charter-period prices, while we have a respective obligation of purchasing the vessel
at the expiration of the bareboat term at a purchase price of $12.1 million. Upon the earlier of the exercise of the purchase
options or the expiration of the bareboat charter, we will own the vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">July 2014 Transactions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the Merger and Pappas
Transactions, we acquired 13 dry bulk vessels and contracts for the construction of 26 newbuilding dry bulk fuel-efficient Eco-type
vessels at shipyards in Japan and China, of which nine are subject to bareboat charters, as described below. The total purchase
consideration for the July 2014 Transactions was $616.3 million. As of February 29, 2016, 13 out 17 newbuilding vessels (without
including those that are subject to bareboat charters, which are described below) have been delivered to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">On
May 17, 2013, subsidiaries of Ocenbulk 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.</FONT>
The vessels were constructed pursuant to four shipbuilding contracts entered into between four pairings of affiliates of New Yangzijiang.
Each pair has one shipyard party (each, a &#147;New YJ Builder&#148;) and one ship-owning entity (each a &#147;New YJ Owner&#148;).
Delivery of each vessel to us occured upon delivery of the vessel to the New YJ Owner from the corresponding New YJ Builder. An
amount of $20.7 million for the construction cost of each vessel was financed by the relevant New YJ Owner, to whom we pay a pre-agreed
daily bareboat charter hire rate on a 30-days advance basis. After each vessel&#146;s delivery, we have monthly purchase options
to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices and on the eighth anniversary of the delivery
of each vessel, we have the obligation to purchase the vessel at a purchase price of $6.0 million. The four vessels were delivered
to us on March 25, 2015, March 31, 2015, April 7, 2015 and June 26, 2015, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 27, 2013,
subsidiaries of Oceanbulk entered into separate bareboat charter party contracts with affiliates of SWS for ten-year bareboat charters
of five newbuilding 208,000 dwt Newcastlemax vessels being built at SWS. The vessels are being constructed pursuant to shipbuilding
contracts entered into between five pairings of affiliates of SWS. As of February 29, 2016, we expect that only three of these
vessels will still be delivered to us. 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 us is deemed to occur upon delivery of the vessel to the SWS
Owner from the corresponding SWS Builder. An amount ranging from $40.0 to $43.2 million 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 we will pay a daily
bareboat charter hire rate payable monthly plus a variable amount. In addition, we will pay for the three newbuilding vessels an
aggregate amount of $1.0 million for agreed extra costs. After each vessel&#146;s delivery, we have monthly purchase options to
acquire the vessel at pre-determined, amortizing-during-the-charter-period prices and at the end of the ten-year charter period
for each vessel, we have the obligation to purchase the vessel at a purchase price ranging from $12.0 million to $13.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Merger Agreement
also provided for the acquisition of the Heron Vessels. On November 11, 2014, we entered into two separate agreements with Heron
to acquire the vessels <I>Star Gwyneth</I> (ex-<I>ABYO Gwyneth</I>) and <I>Star Angelina</I> (ex-<I>ABYO Angelina</I>), which were
delivered to us on December 5, 2014. The cost for the acquisition of these vessels was determined based on the fair value of the
2,115,706 common shares issued on July 11, 2014, in connection with the Heron Transaction, of $25.1 million and $25.0 million in
cash payment which was financed by the Heron Vessels Facility (as defined below see &#147;Item 5. Operating and Financial Review
and Prospects&mdash;B. Liquidity and Capital Resources&mdash;Senior Secured Credit Facilities&#148;), according to the provisions
of the Merger Agreement with respect to these acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A total of 54,104,200
of our common shares were issued to the various selling parties in the July 2014 Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Excel Transactions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Through the Excel Transactions,
we acquired the 34 Excel Vessels for an aggregate of 29,917,312 common shares and $288.4 million in cash. In the case of three
Excel Vessels <I>Star Martha </I>(ex<I>-Christine)</I>, <I>Star Pauline </I>(ex<I>-Sandra</I>) and <I>Star Despoina </I>(ex<I>-Lowlands
Beilun</I>), which were transferred subject to existing charters, we received the outstanding equity interests of the vessel-owning
subsidiaries that own those Excel Vessels (although all other assets and liabilities of such vessel-owning subsidiaries remained
with Excel).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vessel Dispositions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 22, 2012,
we entered into an agreement to sell <I>Star Ypsilon</I> to a third party<I>, </I>together with a quantity of 667 metric tons of
fuel oil. We delivered the vessel to its purchasers on March 9, 2012. In connection with the sale of <I>Star Ypsilon </I>and the
terms of the HSH Nordbank $64.5 million Facility (as defined below see &#147;Item 5. Operating and Financial Review and Prospects&mdash;B.
Liquidity and Capital Resources&mdash;Senior Secured Credit Facilities&#148;), on March 7, 2012, we repaid $7.4 million of the
outstanding borrowings under the HSH Nordbank $64.5 million Facility and the mortgage over the vessel was released<I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 14, 2013,
we entered into an agreement to sell <I>Star Sigma </I>to a third party. The vessel was delivered to its purchasers on April 10,
2013. On April 2, 2013, in connection with the sale of <I>Star Sigma</I>, we fully repaid the $4.7 million balance of Capesize
Tranche of the HSH Nordbank $64.5 million Facility. The remaining $4.7 million balance from the sale proceeds of <I>Star Sigma</I>
was applied as a prepayment to the Supramax Tranche of the HSH Nordbank $64.5 million Facility. As a result, the next seven scheduled
quarterly installments for that facility, commencing in April 2013 were reduced on a pro-rata basis equal to the amount of the
prepayment and the mortgage over the vessel was released.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since
late December 2014, we entered into separate agreements with third parties to sell 17 of our vessels (<I>Star Big, Star
Mega, Maiden Voyage, Star Natalie, Star Tatianna, Star Christianna, Star Monika, Star Julia, Star Kim, Star Nicole, Rodon,
Star Claudia, Indomitable, Magnum Opus, Tsu Ebisu, Deep Blue and Obelix</I>). Of these vessels, 12 were delivered to
their purchasers in 2015, one in February 2016, while the remaining four (<I>Indomitable, Magnum Opus, Deep Blue and
Obelix</I>) were delivered to their purchasers in early 2016 or are expected to be delivered by April 2016. In
connection with the sale of these vessels and in accordance with the terms of their related credit facilities, as of February
29, 2016 we prepaid $66.2 of our outstanding debt obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the prepayments
made in connection with the above sales see &#147;Item 5. Operating and Financial Review and Prospects&mdash;B. Liquidity and
Capital Resources&mdash;Senior Secured Credit Facilities.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, in
2015 and early 2016, we entered into separate agreements with third parties to sell the newbuilding vessels <I>Behemoth,</I> <I>Bruno
Marks, Megalodon, Star Aries, Jenmark, </I>and <I>Star Taurus</I> upon their delivery to us from the shipyard. The first
four of these vessels were delivered to their purchasers in January and February 2016, while the remaining two are
expected to be delivered in March 2016 and April 2016, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2015, we
reassigned the leases for two of our newbuilding vessels back to the vessel owner for a one-time refund of $5.8 per vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2016,
we agreed in principle with certain shipyards to terminate two shipbuilding contracts with no further capital expenditure obligations
on these vessels following the execution of definitive documentation relating to the termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Negotiations with the shipyards</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-style: normal">During
2015 and in early 2016 we reached agreements in principle with certain shipyards to defer the delivery and reduce the purchase
price of certain of our newbuilding vessels. The estimated delivery dates and remaining payments for our newbuilding vessels stated
elsewhere in this report take effect of these negotiations. The aggregate agreed reduction to the purchase price was $64.5 million.
In addition, $187.7 million of capital expenditures due in 2016 was deferred to 2017 and 2018. These agreements are subject to
execution of final documentation by both parties.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Business overview</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are an international
shipping company with extensive operational experience that owns and operates a fleet of dry bulk carrier vessels. On a fully delivered
basis, we will have a fleet of 76 vessels consisting primarily of Newcastlemax, Capesize as well as Kamsarmax, Ultramax and Supramax
vessels with a carrying capacity between 45,588 dwt and 209,537 dwt. Our vessels transport a broad range of major and minor bulk
commodities, including ores, coal, grains and fertilizers, along worldwide shipping routes. Our highly experienced executive management
team, with a combined 120 years of shipping industry experience, is led by Mr. Petros Pappas, who has more than 35 years of shipping
industry experience and has managed approximately 300 vessel acquisitions and dispositions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, our operating fleet of 72 vessels had an aggregate capacity of approximately 7.6 million dwt. We have also entered into
or acquired contracts for the construction of ten of the latest generation &#147;Eco-type&#148; vessels at leading shipyards in
Japan and China, which we define as vessels that are designed to be more fuel-efficient than standard vessels of similar size
and age. As of February 29, 2016, the total payments for our ten newbuilding vessels were expected to be $471.8 million, of which
we had already paid $112.1 million. As of February 29, 2016, we had $175.8 million of cash on hand and we had obtained
commitments for $291.6 million of secured debt for ten newbuilding vessels (other than the two newbuilding vessels that will be
sold upon their delivery to us). By the first quarter of 2018, we expect our fleet to consist of 76 wholly owned vessels, with
an average age of 8.6 years and an aggregate capacity of 8.5 million dwt. As of February 29, 2016, the average age of our operating
fleet was 7.4 years. On a fully delivered basis and based on publicly available information, we believe our fleet will make us
one of the largest U.S. publicly traded dry bulk shipping company by deadweight tonnage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our fleet is well-positioned
to take advantage of economies of scale in commercial, technical and procurement management, with five of our ten newbuilding vessels
expected to be delivered in the remainder of 2016, three in 2017 and two in 2018. For our operating fleet and our newbuildings,
we have focused on vessels built at leading Japanese and Chinese shipyards, which, in our experience, are more reliable and less
expensive to operate and are accordingly preferred by charterers. Currently, because of prevailing market conditions, we primarily
employ our vessels in the spot market, under short term time charters or voyage charters. While employing the vessels under a voyage
charter may require more management attention than under time charters, the vessel owner benefits from any fuel savings it can
achieve because fuel is paid for by the vessel owner. On a fully-delivered basis, we will have a large, modern, fuel-efficient
and high-quality fleet, which emphasizes the largest Eco-type Capesize and Newcastlemax vessels, built at leading shipyards and
featuring the latest technology. As a result, we believe we will have an opportunity to capitalize on rising market demand during
a period of reduced fleet growth, customer preferences for our ships and economies of scale, while enabling us to capture the benefits
of fuel cost savings through spot time charters or voyage charters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Fleet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have built a fleet
through timely and selective acquisitions of secondhand and newbuilding vessels. Because of the industry reputation and extensive
relationships of Mr. Pappas and the other members of our senior management, we have been able to contract for our newbuilding vessels
with leading shipyards. We believe that owning a modern, well-maintained fleet reduces operating costs, improves the quality of
services we deliver and provides us with a competitive advantage in securing favorable spot time charters and voyage charters with
high-quality counterparties. Each of our newbuilding vessels will be equipped with a vessel remote monitoring system that will
provide data to a central location in order to monitor fuel and lubricant consumption and efficiency on a real-time basis. We expect
to retrofit all of our operating vessels and most of the Excel Vessels with a similar monitoring system. While these monitoring
systems are generally available in the shipping industry, we believe that they can be cost-effectively employed only by large-scale
shipping operators, such as us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our fleet, which emphasizes
large Capesize vessels, primarily transports minerals from the Americas and Australia to East Asia, particularly China, but also
Japan, South Korea, Taiwan, Indonesia and Malaysia. Our Supramax vessels carry minerals, grain products and steel between the Americas,
Europe, Africa, Australia and Indonesia and from these areas to China, Japan, South Korea, Taiwan, the Philippines and Malaysia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our newbuilding vessels
are being built at leading Japanese and Chinese shipyards. The following tables summarize key information about our fully delivered
fleet, as of February 29, 2016:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Operating Fleet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Vessel&nbsp;Name</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Vessel Type</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Capacity</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(dwt.)</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Year&nbsp;Built&nbsp;</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Date Delivered to Star Bulk</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Goliath</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,537</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Gargantua</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,529</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Maharaj</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,472</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Poseidon</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,000</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February-16</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Deep Blue (2)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,608</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">May-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Leviathan</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,511</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Peloreus</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,496</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Indomitable (2)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,476</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Obelix (2)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">181,433</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Martha</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,274</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2010</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></TD></TR></TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 30%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Pauline</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 19%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 9%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,274</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 9%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2008</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 20%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pantagruel</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,181</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Borealis</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">179,678</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-11</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Polaris</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">179,600</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November-11</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Angie </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">177,931</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Big Fish</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">177,643</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Kymopolia</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">176,990</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Big Bang</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">174,109</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Aurora</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">171,199</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-10</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Despoina</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">170,162</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1999</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Eleonora</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">164,218</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Monisha</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">164,218</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Amami </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Post Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Madredeus </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Post Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">25</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Sirius </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Post Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Vega </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Post Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Angelina </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,981</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Gwyneth </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,790</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Kamila </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,769</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2005</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pendulum</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,619</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Maria </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,598</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">32</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Markella </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,594</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Danai </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,574</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Georgia </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,298</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Sophia </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,269</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Mariella </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,266</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">37</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Moira </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,257</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">38</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Nina </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,224</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">39</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Renee </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,221</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Nasia </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,220</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Laura</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,209</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Jennifer </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,209</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Helena </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,187</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Mercurial Virgo</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81,545</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2013</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Magnum Opus (2)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kamsarmax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81,022</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Iris </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,466</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Aline </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,429</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Emily</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,417</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">49</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Vanessa </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Panamax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">72,493</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1999</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">50</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Idee Fixe (1)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,458</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Roberta (1)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,426</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Laura (1)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,399</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Kaley (1)</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,283</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">54</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Kennadi</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,262</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January-16</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Challenger</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,462</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2012</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Fighter</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,455</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2013</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-13</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">57</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Lutas</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,347</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Honey Badger </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,320</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Wolverine </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,292</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">60</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Antares</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,258</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Acquarius</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">60,916</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-15</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">62</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Pisces</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">60,916</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August-15</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Strange Attractor</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,742</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-14</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></TD></TR></TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">64</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 30%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Omicron</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 19%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 9%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,489</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 9%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2005</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 20%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April-08</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">65</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Gamma</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,098</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2002</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January-08</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">66</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Zeta</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,994</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2003</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January-08</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">67</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Delta</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,434</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January-08</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">68</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Theta</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,425</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2003</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-07</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">69</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Epsilon</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,402</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-07</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">70</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Cosmo</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,246</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2005</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July-08</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">71</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Kappa</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,055</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December-07</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">72</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Michele </I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Handymax</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45,588</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1998</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October-14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total&nbsp;dwt:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7,615,187</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>(1)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Subject
to a bareboat charter that is accounted for as a capital lease.</I></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"><I>(2)</I></TD><TD STYLE="text-align: justify"><I>We have agreed to sell this vessel but have not yet
delivered it to its new owner.</I></TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Newbuilding Vessels</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 3%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 2%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 30%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Vessel&nbsp;Name</B></FONT></TD>
    <TD STYLE="width: 1%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 19%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Vessel Type</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 10%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Capacity</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(dwt.)</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Shipyard</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Expected Delivery</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1359 (<I>tbn Star Marisa</I>) (1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mar-16</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1372 (tbn <I>Star Libra</I>)<SUP> </SUP>(1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Apr-16</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1360 (tbn <I>Star Ariadne</I>)&nbsp;&nbsp;(1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Feb-17</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1342 (tbn <I>Star Gemini</I>)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Jul-17</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1371 (tbn <I>Star Virgo</I>)<SUP> </SUP>(1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Jan-17</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1361 (tbn <I>Star Magnanimus</I>) (1)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Jan-18</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1343 (tbn <I>Star Leo</I>) (2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Newcastlemax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">208,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Jan-18</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1313 <I>(</I>tbn<I> Jenmark</I>)<I> </I>(3)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mar-16</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1339 (tbn <I>Star Taurus</I>)(3)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capesize</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SWS, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Apr-16</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HN 1081 (tbn Mackenzie)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultramax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">64,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">New Yangzijiang, China</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mar-16</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total dwt:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1,880,000</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"><I>(1)</I></TD><TD STYLE="text-align: justify"><I>Subject to a bareboat charter that will be accounted
for as a capital lease.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"><I>(2)</I></TD><TD STYLE="text-align: justify"><I>To be financed under a capital lease.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt; text-align: left"><I>(3)</I></TD><TD STYLE="text-align: justify"><I>Newbuilding vessel agreed to be sold upon its delivery
from the shipyard.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Vessels Chartered In </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Vessel Name</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Type</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Capacity (dwt.)</U></B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Year Built</U></B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Astakos (ex - Maiden Voyage)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58,722</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2012</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total dwt:</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>58,722</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Vessels under Management</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Vessel Name</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Type</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Capacity (dwt.)</U></B></FONT></TD>
    <TD STYLE="width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Year Built</U></B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Serenity I</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,688</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total dwt:</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,688</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Competitive Strengths</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that we
possess a number of competitive strengths in our industry, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Track record of fleet growth with
an extensive pipeline of attractive newbuilding vessels</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since 2007, we have
successfully acquired 92 on the water modern dry bulk carrier vessels built between 1992 and 2016, with a total capacity of approximately
13.5 million dwt, including four Newcastlemax, 26 Capesize, four Post-Panamax, 20 Kamsarmax, 13 Panamax, 13 Ultramax, ten Supramax
and two Handymax vessels. During the same period we have successfully disposed of 30 dry bulk carrier vessels, including 2 Newcastlemax,
15 Capesize, two Kamsarmax, nine Panamax, one Supramax and one Handymax vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operating fleet
of dry bulk carrier vessels were built at leading Japanese, Chinese and Korean shipyards between 1993 and 2016, all of which are
serving existing customers. Our management team&#146;s newbuilding philosophy has been to focus on building vessels exclusively
at what we believe to be among the leading shipyards in Japan and China rather than simply purchasing available slots at any shipyard.
Based on our experience, we believe that charterers will prefer newer, high-quality vessels and that such vessels will help to
reduce operating and maintenance expenses and increase utilization rates. Mr. Pappas has leveraged his relationships with the shipyards
to carefully plan our ten-vessel newbuilding program. Our newbuilding program is designed to take advantage of economies of scale
as quickly as practicable, adding a total capacity of approximately 1.9 million dwt, with five of the ten vessels to be delivered
in the remaining months of 2016, three in 2017 and two in 2018. As of February 29, 2016, the average age of our operating fleet
was 7.4 years. When our newbuilding program is completed (which we expect in the first quarter of 2018), on a fully delivered basis,
our fleet is expected to consist of 76 wholly owned vessels, with an average age of 8.6 years and an aggregate capacity of 8.5
million dwt. We believe that our operating fleet and our expected newbuilding delivery schedule give us a competitive advantage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Focus on fuel efficiency and improving
vessel operations</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of our 10
newbuilding vessels are Eco-type vessels,. These fuel-efficient Eco-type vessels will enable us to take advantage of
available fuel cost savings and operational efficiencies and give us the opportunity to generate advantageous TCE rates,
particularly in an environment in which charterhire rates are relatively low. In addition, each of our newbuilding vessels
will be equipped with a sophisticated vessel remote monitoring system that will allow us to collect real-time information on
the performance of critical on-board equipment, with a particular focus on fuel consumption and engine performance. Using
this information, we will be able to be proactive in identifying potential problems and evaluating optimum operating
parameters during various sea passage conditions. We will also be able to compare actual vessel performance to reported
vessel performance and provide feedback to crews in real time, thereby reducing the likelihood of errors or omissions by our
crews. Similar systems will be retrofitted to most of our operating vessels. The vessel remote monitoring system is
designed to enhance our ability to manage the operations of our vessels, thereby increasing operational efficiency and
reducing maintenance costs and off-hire time. In addition, because of the similarities between our operating vessels and a
number of our newbuilding vessels, we can take advantage of efficiencies in crewing, training and spare parts inventory
management and can apply technical and operational knowledge of one ship to its sister ships. In addition to our newbuilding
Eco-type vessels, 31 of our operating vessels are being equipped with sliding engine valves and alpha lubricators, making
them semi-Eco vessels with increased fuel efficiency and decreased lubricant consumption. Most of the Excel Vessels
either are equipped or are in the process of being equipped with similar features for increased fuel efficiency and decreased
lubricant consumption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Experienced management team with
a strong track record in the shipping industry</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our company&#146;s
leadership has considerable shipping industry expertise. Our founder and Chief Executive Officer, Mr. Pappas, has an established
track record in the dry bulk industry, with more than 35 years of experience and more than 275 vessel acquisitions and dispositions.
Mr. Pappas has extensive experience in operating and investing in shipping, including through his principal shipping operations
and investment vehicle, Oceanbulk Maritime. Mr. Pappas also has extensive relationships in the shipping industry, and he has leveraged
his deep relationships with shipbuilders to formulate our newbuilding program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Hamish Norton,
our President, is also the Head of Corporate Development and Chief Financial Officer of Oceanbulk Maritime with more than 23 years
of experience in the shipping industry. Prior to joining Oceanbulk Maritime, from 2007 through 2012, Mr. Norton was a Managing
Director and the Global Head of the Maritime Group at Jefferies LLC, and from 2003 to 2007, he was head of the shipping practice
at Bear Stearns. Mr. Norton has advised in numerous capital markets and mergers and acquisitions transactions by shipping companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Christos Begleris,
our Co-Chief Financial Officer, has served as Deputy Chief Financial Officer of Oceanbulk Maritime since 2013 and was the Chief
Financial Officer of Oceanbulk from January 2014. He has been involved in the shipping industry since 2008 and has considerable
banking and capital markets experience, having executed more than $9.0 billion of acquisitions and financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Simos Spyrou, our
Co-Chief Financial Officer, has served as Chief Financial Officer of Star Bulk since September 2011. Mr. Spyrou has more than 15
years of experience in the Greek equity and derivative markets at the Hellenic Exchanges Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Nicos Rescos, our
Chief Operating Officer, has served as the Chief Operating Officer of Oceanbulk Maritime since April 2010 and the Commercial Director
of Goldenport Holdings Inc. since 2000. He has been involved in the shipping industry in key commercial positions since 1993 and
has strong expertise in the dry bulk, container and product tanker markets, having been responsible for more than 150 vessel acquisitions
and dispositions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Zenon Kleopas,
our Executive Vice-President&mdash;Technical &amp; Operations, joined us in July 2011 and has over 30 years of experience in the
shipping industry. He was actively involved in the acquisition of our initial fleet in 2007 and 2008. He has extensive experience
in ship operations and supervising ship management through his continuous employment in shipping companies in the United Kingdom
and Greece since 1980.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For more information
on our management team, see &#147;Item 6. Directors, Senior Management and Employees &ndash; Directors, Senior Management and
Employees.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Extensive relationships with customers,
lenders, shipyards and other shipping industry participants</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Through Mr. Pappas
and our senior management team, we have strong global relationships with shipping companies, charterers, shipyards, brokers and
commercial shipping lenders. Our senior management team has a long track record in the voyage chartering of dry bulk ships (including
those that comprise our operating fleet), which we expect will be of great benefit to us in increasing the profitability of our
newbuilding fleet. The chartering team has long experience in the business of arranging voyage and short-term time charters and
can leverage its extensive industry relationships to arrange for favorable and profitable charters. We believe that these relationships
with these counterparties and our strong sale and purchase track record and reputation as a creditworthy counterparty should provide
us with access to attractive asset acquisitions, chartering and ship financing opportunities. Mr. Pappas has also leveraged his
deep relationships with various shipyards to enable us to implement our newbuilding program and obtain attractive slots at those
shipyards.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Business Strategies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our primary objectives
are to grow our business profitably and to continue to grow as a successful owner and operator of dry bulk vessels. The key elements
of our strategy are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Preserve liquidity during the current
dry bulk market downturn through efficient operations and vessel sales</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-style: normal">Dry
bulk charterhire rates have reached historically low levels recently, which if prolonged could severely impact the dry bulk shipping
industry overall. The Baltic Dry Index, or the BDI, an index published daily by the Baltic Exchange Limited, a London-based membership
organization that provides daily shipping market information to the global investing community, is a daily average of charter rates
for key dry bulk routes and has long been considered as the main benchmark against which industry specialists and dry bulk shipping
owners monitor the movements of the dry bulk vessel charter market and the performance of the overall dry bulk shipping market.
The BDI declined 35% during 2015 and reached its all-time low of 290 in February 2016. In this environment, we are taking all necessary
actions to preserve our liquidity through vessel sales, renegotiation of price and delivery dates with the shipyards for our newbuilding
fleet, as well as optimization of vessel operations to reduce voyage and operating costs. Our management is focused on making us
a leading operator in terms of cost without sacrificing the quality of our operations. Reflecting the continued quality of our
vessels, as of December 2015, 88% of the fleet managed by us had a rating of five (out of five) stars by Rightship, a ratings agency
that evaluates the condition of dry bulk vessels.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalize on potential increases
in charterhire rates for dry bulk shipping</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The dry bulk shipping
industry is cyclical in nature. The recent historically low dry bulk charterhire rates act as a catalyst for ship owners, who scrap
a significant number of vessels, until equilibrium between demand and supply of vessels is achieved. Based on our analysis of industry
dynamics, we believe that dry bulk charterhire rates will rise for the medium term due to drastic supply cuts that we expect will
result from owners&#146; actions in the short term. The supply of dry bulk carriers is dependent on the delivery of new vessels and
the removal of vessels from the global fleet, either through scrapping or loss. As of the beginning of February, 2016, the global
dry bulk carrier order book amounted to approximately 15% of the existing fleet at that time. The level of scrapping activity is
generally a function of scrapping prices in relation to current and prospective charter market conditions, as well as operating,
repair and survey costs. Generally, dry bulk carriers at or over 25 years old are likely candidates to be scrapped. During 2015,
a total of 30.5 million dwt was scrapped, representing the second highest level in the history of the dry bulk industry. In addition,
up until the first week of February 2016, we have observed a record demolition rate for dry bulk vessels, with 5.4 million dwt
being scrapped. Historically, from 2006 to 2015, vessel annual demolition rates ranged from 0.54 million dwt to 33.4 million dwt.
We have also observed the conversion of a number of newbuilding dry bulk vessels to tanker and container vessels, which we consider
has the positive consequence of reducing dry bulk vessel deliveries and hence supply. We expect that the historically low freight
rate environment will continue to dissuade ship owners from ordering further dry bulk vessels. By reducing vessel supply, we believe
that the above three factors will have a positive effect on freight rates in the future. While the charter market remains at current
levels, we intend to operate our vessels in the spot market under short-term time charter market or voyage charters in order to
benefit from any future increases in charter rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Charter our vessels in an active
and sophisticated manner</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business strategy
is centered on arranging voyage and short term time charters for our vessels given the current low market levels. This approach
is also tailored specifically to the fuel efficiency of our newbuilding vessels. While this process is more difficult and labor-intensive
than placing our vessels on longer-term time charters, it can lead to greater profitability, particularly for vessels that have
lower fuel consumption than typical vessels. When operating a vessel on a voyage charter, we (as owner of the vessel) will incur
fuel costs, and therefore, we are in a position to benefit from fuel savings (particularly for our Eco-type vessels). If charter
market levels rise, we may employ part of our fleet in the long-term time charter market, while we may be able to more advantageously
employ our newbuilding fleet in the voyage charter market in order to capture the benefit of available fuel cost savings. Our large,
diverse and high quality fleet provides scale to major charterers, such as iron ore miners, utility companies and commodity trading
houses. On December 17, 2014, we announced the formation of a long-term strategic partnership with a significant iron ore mining
company for the chartering of three Newcastlemax vessels, two of which were delivered in 2015 and the last of which is expected
to be delivered in 2016, under an index-linked voyage charter for a five-year period. This arrangement will allow us to take the
full benefit of the vessels&#146; increased cargo carrying capacity as well as potential savings arising from their fuel efficiency,
as we will be compensated on a $/ton basis, while being responsible for the voyage expenses of the vessels. We seek similar arrangements
with other charterers, providing the scale required for the transportation of large commodity volumes over a multitude of trading
routes around the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 25, 2016,
we entered into a Capesize vessel pooling agreement (&#147;CCL&#148;)&nbsp;with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP
LIMITED and C TRANSPORT HOLDING LTD. We have agreed to market nine of our Capesize dry bulk vessels, which had previously been
operating in the spot market, as part of one combined CCL fleet. Together with our nine vessels, the CCL fleet will initially consist&nbsp;of
65 modern Capesize vessels and will be managed out of Singapore and Antwerp. Each vessel owner will continue to be responsible
for the operating, accounting and technical management of its respective vessels. We expect to achieve improved scheduling ability
through the joint marketing opportunity that CCL represents for our Capesize vessels, with the overall aim of enhancing economic
efficiencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Expand our fleet through opportunistic
acquisitions of high-quality vessels at attractive prices</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, we had contracts for ten additional newbuilding vessels with an aggregate capacity of approximately 1.9 million dwt. If market
conditions improve, we may opportunistically acquire high-quality vessels at attractive prices that are accretive to our cash flow.
When evaluating acquisitions, we will consider and analyze, among other things, our expectations of fundamental developments in
the dry bulk shipping industry sector, the level of liquidity in the resale and charter market, the cash flow earned by the vessel
in relation to its value, its condition and technical specifications with particular regard to fuel consumption, expected remaining
useful life, the credit quality of the charterer and duration and terms of charter contracts for vessels acquired with charters
attached, as well as the overall diversification of our fleet and customers. We believe that these circumstances combined with
our management&#146;s knowledge of the shipping industry may present an opportunity for us to grow our fleet at favorable prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Maintain a strong balance sheet
through moderate use of leverage</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We plan to finance
our fleet, including future vessel acquisitions, with a mix of debt and equity, and we intend to maintain moderate levels of leverage
over time, even though we may have the capacity to obtain additional financing. As of December 31, 2015, our debt to total capitalization
ratio was approximately 46%. Charterers have increasingly favored financially solid vessel owners, and we believe that our balance
sheet strength will enable us to access more favorable chartering opportunities, as well as give us a competitive advantage in
pursuing vessel acquisitions from commercial banks and shipyards, which in our experience have recently displayed a preference
for contracting with well-capitalized counterparties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Competition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Demand for dry bulk
carriers fluctuates in line with the main patterns of trade of the major dry bulk cargoes and varies according to changes in the
supply and demand for these items. We compete with other owners of dry bulk carriers in the Newcastlemax, Capesize, Post Panamax
(including the Kamsarmax subcategory), Ultramax and Supramax (including the Handymax subcategory) size sectors. Ownership of dry
bulk carriers is highly fragmented and is divided among approximately 1,700 independent dry bulk carrier owners. We compete for
charters on the basis of price, vessel location, size, age and condition of the vessel, as well as on our reputation as an owner
and operator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that we
possess a number of strengths that provide us with a competitive advantage in the dry bulk shipping industry:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We own a modern, diverse, high quality fleet of dry bulk carrier vessels. Our fleet consists of
72 vessels currently in the water, while we have ten high specification, fuel efficient, Eco-type vessels, on order at quality
shipyards in China and Japan. We believe that owning a modern, high quality fleet reduces operating costs, improves safety and
provides us with a competitive advantage in securing favorable time charters. We maintain the quality of our vessels by carrying
out regular inspections, both while in port and at sea, and adopting a comprehensive maintenance program for each vessel. Furthermore
we take a proactive approach to safety and environmental protection through comprehensively planned maintenance systems, preventive
maintenance programs and by retaining and training qualified crews.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We benefit from strong relationships with members of the shipping and financial industries. Our
Chief Executive Officer, directors and management team have established relationships with leading charterers as well as chartering,
sales and purchase brokerage houses around the world. Our Chief Executive Officer, directors and management team have maintained
relationships with, and have achieved acceptance by, major governmental and private industrial users, commodity producers and traders.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We have an experienced management team and board of directors. Our management team and our board
of directors, collectively, have more than 130 years shipping experience during which they have developed strong industry relationships
with leading charterers, financial institutions, shipyards, insurance underwriters, protection and indemnity associations.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We conduct a significant portion of the commercial and technical management of our vessels in-house
through our wholly owned subsidiaries, Star Bulk Management Inc., Star Bulk Shipmanagement Company (Cyprus) Limited and Starbulk
S.A. We believe having control over the commercial and technical management provides us with a competitive advantage over many
of our competitors by allowing us to more closely monitor our operations and to offer higher quality performance, reliability and
efficiency in arranging charters and the maintenance of our vessels. We also believe that these management capabilities contribute
significantly in maintaining a lower level of vessel operating and maintenance costs.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We obtain chartering and brokering services from Interchart, an entity affiliated with our Chief
Executive Officer, of which we own 33%. We believe having an influence over the chartering and brokering services provides us with
a competitive advantage over many of our competitors by allowing us to obtain profitable rates and retain flexibility in the employment
of our vessels.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Customers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have well established
relationships with major dry bulk charterers, which we serve by carrying a variety of cargoes over a multitude of routes around
the globe. We charter out our vessels to major iron ore miners, utilities companies, commodity trading houses and diversified shipping
companies. The following is an indicative list of such companies with which we chartered our vessels in the year ended December
31, 2015: ADMI, BHP Billiton, Brampton, Cargill, Cobelfret, E.O.N. Global Commodities, EDF Trading, FMG International, Glencore,
Glocal Maritime Ltd, Louis Dreyfus, Mittal, Noble, Norden, Oldendorff Carriers, Raffles, Rio Tinto, Topsheen, Transgrain, and Western
Bulk Pte. Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2015, we derived 7% of our voyage revenues from two of our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Seasonality</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Demand for vessel capacity
has historically exhibited seasonal variations and, as a result, fluctuations in charter rates. This seasonality may result in
quarter-to-quarter volatility in our operating results for vessels trading in the spot market. The dry bulk sector is typically
stronger in the fall and winter months in anticipation of increased consumption of coal and other raw materials in the northern
hemisphere. Seasonality in the sector in which we operate could materially affect our operating results and cash available for
dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Management of the Fleet</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Management,
Star Bulk Shipmanagement Company (Cyprus) Limited and Starbulk S.A., three of our wholly-owned subsidiaries, perform the
operational and technical management services for the vessels in our fleet, including chartering, marketing, capital expenditures,
personnel, accounting, paying vessel taxes and maintaining insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, we had 149 employees, engaged in the day to day management of the vessels in our fleet, including our executive officers,
through Star Bulk Management , Star Bulk Shipmanagement Company (Cyprus) Limited and Starbulk S.A. Star Bulk Management, Star Bulk
Shipmanagement Company (Cyprus) Limited and Starbulk S.A. employ a number of additional shore-based executives and employees designed
to ensure the efficient performance of our activities. We reimburse and/or advance funds as necessary to Star Bulk Management,
Star Bulk Shipmanagement Company (Cyprus) Limited and Starbulk S.A. in order for them to conduct their activities and discharge
their obligations, at cost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Management
is responsible for the management of the vessels. Star Bulk Management&#146;s responsibilities include, inter alia, locating,
purchasing, financing and selling vessels, deciding on capital expenditures for the vessels, paying vessels&#146; taxes, negotiating
charters for the vessels, managing the mix of various types of charters, developing and managing the relationships with charterers
and the operational and technical managers of the vessels. Star Bulk Management subcontracts certain vessel management services
to Starbulk S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Starbulk S.A. provides
the technical and crew management of  the majority of our vessels. Technical management includes maintenance, dry docking,
repairs, insurance, regulatory and classification society compliance, arranging for and managing crews, appointing technical consultants
and providing technical support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Star Bulk Shipmanagement
Company (Cyprus) Limited provides technical and operation management services in respect of 16 of our vessels. The management
services include arrangement and supervision of dry docking, repairs, insurance, regulatory and classification society compliance,
provision of crew, appointment of surveyors and technical consultants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>



<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Crewing</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Starbulk S.A. and
Star Bulk Shipmanagement Company (Cyprus) Limited are responsible for recruiting, either directly or through a technical
manager or a crew manager, the senior officers and all other crew members for the vessels in our fleet. Both companies have
the responsibility to ensure that all seamen have the qualifications and licenses required to comply with international regulations
and shipping conventions, and that the vessels are manned by experienced and competent and trained personnel. Starbulk S.A. and
Star Bulk Shipmanagement Company (Cyprus) Limited are also responsible for insuring that seafarers&#146; wages and terms of
employment conform to international standards or to general collective bargaining agreements to allow unrestricted worldwide trading
of the vessels and provides the crewing management for all the vessels in our fleet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><I>Procurement </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of January 1, 2015,
we engaged Ship Procurement Services S.A. (&#147;SPS&#148;), an unaffiliated third party company, to provide to our fleet certain
procurement services at a daily fee of $0.295 per vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Basis for Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">The International Dry Bulk Shipping Industry</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dry bulk cargo is cargo
that is shipped in large quantities and can be easily stowed in a single hold with little risk of cargo damage. In 2015, based
on preliminary figures, it is estimated that approximately 4.7 billion tons of dry bulk cargo was transported by sea.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The demand for dry
bulk carrier capacity is derived from the underlying demand for commodities transported in dry bulk carriers, which is influenced
by various factors such as broader macroeconomic dynamics, globalization trends, industry specific factors, geological structure
of ores, political factors, and weather. The demand for dry bulk carriers is determined by the volume and geographical distribution
of seaborne dry bulk trade, which in turn is influenced by general trends in the global economy and factors affecting demand for
commodities. During the 1980s and 1990s seaborne dry bulk trade increased by 1-2% per annum. However, over the last decade, between
2005 and 2015, seaborne dry bulk trade increased at a compound annual growth rate of 4.9%, substantially influenced by the entrance
of China in the World Trade Organization. The global dry bulk carrier fleet may be divided into seven categories based on a vessel&#146;s
carrying capacity. These main categories consist of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Newcastlemax vessels, which are vessels with carrying capacities of between 200,000 and 210,000
dwt. These vessels carry both iron ore and coal and they represent the largest vessels able to enter the port of Newcastle in Australia.
There are relatively few ports around the world with the infrastructure to accommodate vessels of this size.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Capesize vessels, which are vessels with carrying capacities of between 100,000 and 200,000 dwt.
These vessels generally operate along long-haul iron ore and coal trade routes. There are relatively few ports around the world
with the infrastructure to accommodate vessels of this size.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Post-Panamax vessels, which are vessels with carrying capacities of between 90,000 and 100,000
dwt. These vessels tend to have a shallower draft and larger beam than a standard Panamax vessel, and a higher cargo capacity.
These vessels have been designed specifically for loading high cubic cargoes from draft restricted ports, although they cannot
transit the Panama Canal at its current dimensions. They will be able to transit the Panama Canal once its scheduled expansion
is completed.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Panamax vessels, which are vessels with carrying capacities of between 65,000 and 90,000 dwt. These
vessels carry coal, grains, and, to a lesser extent, minor bulks, including steel products, forest products and fertilizers. Panamax
vessels can pass through the Panama Canal.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Ultramax vessels, which are vessels with carrying capacities of between 60,000 and 65,000 dwt.
These vessels carry grains and minor bulks and operate along many global trade routes. They represent the largest and most modern
version of Supramax bulk carrier vessels (see below).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Handymax vessels, which are vessels with carrying capacities of between 35,000 and 60,000 dwt.
The subcategory of vessels that have a carrying capacity of between 45,000 and 60,000 dwt are called Supramax. Handymax vessels
operate along a large number of geographically dispersed global trade routes mainly carrying grains and minor bulks. Vessels below
60,000 dwt are sometimes built with on-board cranes enabling them to load and discharge cargo in countries and ports with limited
infrastructure.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Handysize vessels, which are vessels with carrying capacities of up to 35,000 dwt. These vessels
carry exclusively minor bulk cargo. Increasingly, these vessels have been operating along regional trading routes. Handysize vessels
are well suited for small ports with length and draft restrictions that lack the infrastructure for cargo loading and unloading.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The supply of dry bulk
carriers is dependent on the delivery of new vessels and the removal of vessels from the global fleet, either through scrapping
or loss. As of the beginning of February, 2016, the global dry bulk carrier order book amounted to approximately 15% of the existing
fleet at that time. The level of scrapping activity is generally a function of scrapping prices in relation to current and prospective
charter market conditions, as well as operating, repair and survey costs. Generally, dry bulk carriers at or over 25 years old
are likely to be scrapped. During 2015, a total of 30.5 million dwt was scrapped, representing the second highest level in the
history of the dry bulk industry. In addition, up until the first week of February of 2016, we have observed a record demolition
rate for dry bulk vessels, with 5.4 million dwt being scrapped. Historically, from 2006 to 2015, annual vessel demolition rates
ranged from 0.54 million dwt to 33.4 million dwt. We have also observed the conversion of a number of newbuilding dry bulk vessels
to tanker and container vessels, which we consider has the positive consequence of reducing dry bulk vessel deliveries and hence
supply. We expect that the historically low freight rate environment will continue to dissuade ship owners from ordering further
dry bulk vessels. By reducing vessel supply, we believe that the above three factors will have a positive effect on freight rates
in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Charterhire Rates</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Charterhire rates paid
for dry bulk carriers are primarily a function of the underlying balance between vessel supply and demand, although at times other
factors may play a role. Furthermore, the pattern seen in charter rates is broadly similar across the different charter types and
between the different dry bulk carrier categories. However, because demand for larger dry bulk carriers is affected by the volume
and pattern of trade in a relatively small number of commodities, charterhire rates (and vessel values) of larger ships tend to
be more volatile than those for smaller vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the time charter
market, rates vary depending on the length of the charter period and vessel specific factors such as age, speed and fuel consumption.
In the voyage charter market, rates are also influenced by cargo size, commodity, port dues and canal transit fees, as well as
delivery and redelivery regions. In general, a larger cargo size is quoted at a lower rate per ton than a smaller cargo size. Routes
with costly ports or canals generally command higher rates than routes with low port dues and no canals to transit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voyages with a load
port within a region that includes ports where vessels usually discharge cargo or a discharge port within a region with ports where
vessels load cargo are generally quoted at lower rates, because such voyages generally increase vessel utilization by reducing
the unloaded portion (or ballast leg) that is included in the calculation of the return charter to a loading area.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Within the dry bulk
shipping industry, the charterhire rate references most likely to be monitored are the freight rate indices issued by the Baltic
Exchange, such as the Baltic Dry Index (&#147;BDI&#148;). These references are based on actual charterhire rates under charter
entered into by market participants, as well as daily assessments provided to the Baltic Exchange by a panel of major shipbrokers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The dry bulk shipping
industry is cyclical with attendant volatility in charterhire rates and profitability. While the degree of charterhire rate volatility
among different types of dry bulk carriers varies widely, the abrupt and dramatic downturn in the dry bulk charter market has severely
affected the entire dry bulk shipping industry. The BDI fell 94% from a peak of 11,793 in May 2008 to a low of 663 in December
2008 and remained volatile since. During 2009, the BDI reached a low of 772 on January 5, 2009 and a high of 4,661 on November
19, 2009. The BDI continued its volatility in 2010, increasing from 3,235 in January 2010 to a high of 4,209 in May 2010 before
subsequently decreasing to a low of 1,700 in July 2010. Following a short period of increase in the third quarter of 2010, the
BDI fell to near July 2010 levels by the end of 2010. The BDI further decreased to 1,043 in February 2011 and continued to decline
in the beginning of 2012 to 753. The BDI recorded a record low of 647 in February 2012. The BDI then increased from these low levels,
reaching 2,337 in December 2013. Subsequently, due to downward volatility, the BDI fluctuated and fell to 471 in December 2015.
The BDI has ranged from 290 to 473 from January until February 2016, with 290 being its all-time low. The dry bulk market remains
volatile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vessel Prices</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Newbuilding prices
are determined by a number of factors, including the underlying balance between shipyard output and capacity, raw material and
labor costs, freight markets and sometimes exchange rates. In the recent past, high levels of new ordering were recorded across
all sectors of shipping with the total orderbook reaching approximately 78% of the fleet during the period between August and November
of 2008. As a result, most of the major shipyards in Japan, South Korea and China had no available capacity for the two forthcoming
years, and an increased number of orders were placed at second and third tier yards mostly in China. The downturn in freight rates,
the lack of funding due to the wider global financial crisis, as well as the fact that many yards had limited or no shipbuilding
experience led to a substantial number of these orders being cancelled or delayed. During 2015, new vessels of 49.3 million dwt
in aggregate capacity were delivered, versus a total amount of 85 million dwt scheduled deliveries for the same year, implying
a slippage/cancellation rate of 42%, higher than the average ratio of 34% during the years 2008 through 2014. It is expected that
this trend will continue to persist in the future, albeit at a lower degree.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Newbuilding prices
have increased significantly since 2003, due to tightness in shipyard capacity, high steel prices, rising labor cost, high levels
of new ordering and stronger freight rates. However, with the sudden and steep decline in freight rates after August 2008 and lack
of new vessel ordering, newbuilding vessel values entered a downward trend and have continued to gradually decline. This trend
however was reversed in the later part of the second half of 2013, as the precipitous increase in freight rates led to a substantial
amount of new orders being placed to the majority of top shipyards in Japan, South Korea and China wiping out their available capacity
for 2014 and shifting the pricing power from buyers to shipbuilders. We still observe that first class shipbuilders have meaningful
forward coverage, and are hence reluctant to reduce their prices. During 2015, the weakening of the dry bulk freight environment
resulted in a sharp decline of newbuilding orders, equal to only 17.7 million dwt. By comparison, from 2010 to 2014, newbuilding
orders for dry bulk vessels ranged from 24.5 million dwt to 104.0 million dwt. Furthermore, during the first two months of 2016,
newbuilding orders continued to decline. We have also observed the conversion of a number of dry bulk vessels to tanker and container
vessels, which we consider has the positive consequence of reducing dry bulk vessel deliveries and hence supply. We expect that
the historically low freight rate environment will continue to dissuade ship owners from ordering further dry bulk vessels. We
believe that these factors will have a positive effect on freight rates in the future, reducing vessel supply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Broadly speaking, the
secondhand market is affected by both the newbuilding prices as well as the overall freight expectations and sentiment observed
at any given time. The steep increase in newbuilding prices and the strength of the charter market have also affected secondhand
values, to the extent that prices rose sharply in 2004 and 2005, before dipping in the early part of 2006, only to rise thereafter
to new highs in the first half of 2008. However, the sudden and sharp downturn in freight rates since August 2008 has also had
a very negative impact on secondhand values. Currently newbuilding and secondhand values have retreated to lower levels since the
middle of 2014, and they still remain below historical mean levels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Environmental and Other Regulations
in the Dry bulk Shipping Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Government regulation
and laws significantly affect the ownership and operation of our fleet. We are subject to international conventions and treaties,
national, state and local laws and regulations in force in the countries in which our vessels may operate or are registered relating
to safety and health and environmental protection including the storage, handling, emission, transportation and discharge of hazardous
and non-hazardous materials, and the remediation of contamination and liability for damage to natural resources. Compliance with
such laws, regulations and other requirements may entail significant expenses, including vessel modifications and implementation
of certain operating procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A variety of government
and private entities subject our vessels to both scheduled and unscheduled inspections. These entities include the local port authorities
(applicable national authorities such as the United States Coast Guard (the &#147;USCG&#148;), harbor master or equivalent),
classification societies, flag state administrations (countries of registry) and charterers, particularly terminal operators. Certain
of these entities require us to obtain permits, licenses, certificates and other authorizations for the operation of our vessels.
Failure to maintain necessary permits or approvals could require us to incur substantial costs or temporarily suspend the operation
of one or more of our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the
heightened level of environmental and quality concerns among insurance underwriters, regulators and charterers is leading to greater
inspection and safety requirements on all vessels and may accelerate the scrapping of older vessels throughout the industry. Increasing
environmental concerns have created a demand for vessels that conform to the stricter environmental standards. We are required
to maintain operating standards for all of our vessels that emphasize operational safety, quality maintenance, continuous training
of our officers and crews and compliance with United States and international regulations. We believe that the operation of our
vessels is in substantial compliance with applicable environmental laws and regulations and that our vessels have all material
permits licenses, certificates or other authorizations necessary for the conduct of our operations. However, because such laws
and regulations change frequently and may impose increasingly stricter requirements, we cannot predict the ultimate cost of complying
with these requirements, or the impact of these requirements on the resale value or useful lives of our vessels. In addition, a
future serious marine incident that causes significant adverse environmental impact, such as the grounding of the <I>Exxon Valdez
</I>in 1989 or the explosion and oil spill in 2010 with respect to the <I>Deepwater Horizon</I> offshore oil rig in the Gulf of
Mexico, could result in additional legislation or regulations that could negatively affect our profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">International Maritime Organization</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The International Maritime
Organization (the &#147;IMO&#148;) is the United Nations agency for maritime safety and the prevention of pollution by ships.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pollution</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IMO adopted, in
1973, the International Convention for the Prevention of Marine Pollution from Ships, which has been modified by the related Protocol
of 1978 and various amendments (collectively, &#147;MARPOL&#148;). MARPOL entered into force on October 2, 1983. It has been
signed and ratified by over 150 nations, including many of the jurisdictions in which our vessels operate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">MARPOL is separated
into six Annexes, each of which regulates a different source of pollution. Annex I relates to oil leakage or spilling; Annexes
II and III relate to harmful substances carried, in bulk, liquid or packaged form; Annexes IV and V relate to sewage and garbage
management, respectively; and Annex VI, relates to air emissions. Annex VI was separately adopted by the IMO in September of 1997.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2012, the IMO&#146;s
Marine Environmental Protection Committee, or &#147;MEPC,&#148; adopted a resolution amending the International Code for the
Construction and Equipment of Ships Carrying Dangerous Chemicals in Bulk, or the IBC Code. The provisions of the IBC Code are mandatory
under MARPOL and the IMO International Convention for the Safety of Life at Sea of 1974, or &#147;SOLAS.&#148; These amendments,
which entered into force in June 2014, pertain to revised international certificates of fitness for the carriage of dangerous chemicals
in bulk and identifying new products that fall under the IBC Code. We may need to make certain financial expenditures to comply
with these amendments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2013, the MEPC adopted
a resolution amending MARPOL Annex I Condition Assessment Scheme, or CAS. These amendments became effective on October 1, 2014,
and require compliance with the 2011 International Code on the Enhanced Programme of Inspections during Surveys of Bulk Carriers
and Oil Tankers, or ESP Code, which provides for enhanced inspection programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that all
our vessels are currently compliant in all material respects with these regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Air Emissions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In September of 1997,
the IMO adopted Annex VI to MARPOL to address air pollution. Effective May 2005, Annex VI sets limits on nitrogen oxide emissions
from ships whose diesel engines were constructed (or underwent major conversions) on or after January 1, 2000. It also prohibits
&#147;deliberate emissions&#148; of &#147;ozone depleting substances,&#148; defined to include certain halons and chlorofluorocarbons.
&#147;Deliberate emissions&#148; are not limited to times when the ship is at sea; they can for example include discharges occurring
in the course of the ship&#146;s repair and maintenance. Emissions of &#147;volatile organic compounds&#148; from certain tankers
and the shipboard incineration (from incinerators installed after January 1, 2000) of certain substances (such as polychlorinated
biphenyls (&#147;PCBs&#148;)) are also prohibited. Annex VI also includes a global cap on the sulfur content of fuel oil and
allows for special areas to be established with more stringent controls of sulfur emissions known as Emission Control Areas (&#147;ECAs&#148;)
(see below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IMO&#146;s Maritime
Environment Protection Committee (&#147;MEPC&#148;) further amended Annex VI, with these amendments entering into force on July
1, 2010 (the &#147;Amended Annex VI&#148;). The Amended Annex VI establishes new tiers of stringent nitrogen oxide emissions
standards for new marine engines, depending on their date of installation. The U.S. Environmental Protection Agency (the &#147;EPA&#148;)
promulgated equivalent (and in some senses stricter) emissions standards in late 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Amended Annex VI
also seeks to further reduce air pollution by, among other things, implementing a progressive reduction of the amount of sulphur
contained in any fuel oil used on board ships. As of January 1, 2012, the Amended Annex VI requires that fuel oil contain no more
than 3.50% sulfur. By January 1, 2020, sulfur content must not exceed 0.50%, subject to a feasibility review to be completed no
later than 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sulfur content standards
are even stricter within certain ECAs. By July 1, 2010, ships operating within an ECA were not permitted to use fuel with sulfur
content in excess of 1.0%, which was further reduced to 0.10% on January 1, 2015. The Amended Annex VI establishes procedures for
designating new ECAs. Currently, the Baltic Sea, the North Sea, and certain coastal areas of North America have been designated
ECAs. Furthermore, as of January 1, 2014 the United States Caribbean Sea was designated an ECA. Ocean-going vessels in these areas
will be subject to stringent emission controls and may cause us to incur additional costs. If other ECAs are approved by the IMO
or other new or more stringent requirements relating to emissions from marine diesel engines or port operations by vessels are
adopted by the EPA or the countries where we operate, compliance with these regulations could entail significant capital expenditures,
operational changes, or otherwise increase the costs of our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that all
our vessels are currently compliant in all material respects with these regulations. Additional or new conventions, laws and regulations
may be adopted that could require the installation of expensive emission control systems and could adversely affect our business,
results of operations, cash flows and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pollution Control and Liability Requirements</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IMO has negotiated
international conventions that impose liability for oil pollution in international waters and the territorial waters of the signatories
to such conventions. For example, in February 2004, the IMO adopted an International Convention for the Control and Management
of Ships&#146; Ballast Water and Sediments (the &#147;BWM Convention&#148;). The BWM Convention&#146;s implementing regulations
call for a phased introduction of mandatory ballast water exchange requirements, to be replaced in time with mandatory concentration
limits. The BWM Convention will not become effective until 12 months after it has been adopted by 30 states, the combined merchant
fleets of which represent not less than 35% of the gross tonnage of the world&#146;s merchant shipping. To date, the BWM Convention
has not yet been ratified but proposals regarding implementation have recently been submitted to the IMO. Many of the implementation
dates in the BWM Convention have already passed, so that once the BWM Convention enters into force, the period for installation
of mandatory ballast water exchange requirements would be extremely short, with several thousand ships a year needing to install
ballast water management systems (the &#147;BWMS&#148;). For this reason, on December 4, 2013, the IMO Assembly passed a resolution
revising the application dates of BWM Convention so that they are triggered by the entry into force date and not the dates originally
in the BWM Convention. This, in effect, makes all vessels constructed before the entry into force date &#147;existing&#148; vessels,
and allows for the installation of a BWMS on such vessels at the first renewal survey following entry into force of the Convention.
Furthermore, in October 2014 the MEPC met and adopted additional resolutions concerning the BWM Convention&#146;s implementation.
Once mid-ocean ballast exchange or ballast water treatment requirements become mandatory, the cost of compliance could increase
for ocean carriers, and the cost of ballast water treatments may be material. However, many countries already regulate the discharge
of ballast water carried by vessels from country to country to prevent the introduction of invasive and harmful species via such
discharges. The United States, for example, requires vessels entering its waters from another country to conduct mid-ocean ballast
exchange, or undertake some alternate measure, and to comply with certain reporting requirements. Although we do not believe that
the costs of such compliance would be material, it is difficult to predict the overall impact of such a requirement on our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Many countries have
ratified and follow the liability plan adopted by the IMO and set out in the International Convention on Civil Liability for Oil
Pollution Damage of 1969, as amended by different Protocols in 1976, 1984, and 1992, and amended in 2000 (the &#147;CLC&#148;).
Under the CLC and depending on whether the country in which the damage results is a party to the 1992 Protocol to the CLC, a vessel&#146;s
registered owner is strictly liable for pollution damage caused in the territorial waters of that country by discharge of persistent
oil, subject to certain exceptions. Under the CLC, the right to limit liability is forfeited where the spill is caused by the ship
owner&#146;s personal fault. Under the 1992 Protocol, the right to limit liability is forfeited where the spill is caused by the
ship owner&#146;s personal act or omission and by the ship owner&#146;s intentional or reckless act or omission where the ship
owner knew pollution damage would probably result from such act or omission. The CLC requires ships covered by it to maintain insurance
covering the liability of the owner in a sum equivalent to an owner&#146;s liability for a single incident. We believe that our
protection and indemnity insurance covers such liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IMO adopted the
International Convention on Civil Liability for Bunker Oil Pollution Damage (the &#147;Bunker Convention&#148;) to impose strict
liability on ship owners for pollution damage in jurisdictional waters of ratifying states caused by discharges of bunker fuel.
The Bunker Convention requires registered owners of ships over 1,000 gross tons to maintain insurance for pollution damage in an
amount equal to the limits of liability under the applicable national or international limitation regime (but not exceeding the
amount calculated in accordance with the Convention on Limitation of Liability for Maritime Claims of 1976 as amended (the &#147;LLMC&#148;)).
With respect to non-ratifying states, liability for spills or releases of bunker fuel is determined by the national or other domestic
laws in the jurisdiction where the events or the damages occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IMO regulations also
require owners and operators of vessels to adopt shipboard oil pollution emergency plans and/or shipboard marine pollution emergency
plans for noxious liquid substances in accordance with the guidelines developed by the IMO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Safety Management System Requirements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IMO has also adopted
the International Convention for the Safety of Life at Sea (the &#147;SOLAS&#148;) and the International Convention on Load Lines
(the &#147;LL Convention&#148;), which impose a variety of standards that regulate the design and operational features of ships.
The IMO has also adopted the LLMC, which specifies the limits of liability for claims relating to loss of life or personal injury
and property claims (such as damage to other ships, property or harbor works). The IMO periodically revises the SOLAS, the LL Convention
and the LLMC standards. The amendments made to the SOLAS in May 2012 entered in force on January 1, 2014. The LLMC was also recently
amended, and the amendments went into effect on June 8, 2015. The amendments alter the limits of liability for loss of life or
personal injury claims and property claims against ship owners. We believe that all our vessels are in substantial compliance with
SOLAS and LL Convention standards, and that our insurance policies are in compliance with the LLMC standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to Chapter
IX of SOLAS, the International Safety Management Code for the Safe Operation of Ships and Pollution Prevention (the &#147;ISM
Code&#148;), our operations are also subject to environmental standards and requirements. The ISM Code requires the owner of a
vessel, or any person responsible for the operation of a vessel, to develop an extensive safety management system that includes,
among other things, the adoption of a safety and environmental protection policy setting forth instructions and procedures for
safely operating the vessel and describing procedures for responding to emergencies. The failure of a ship owner or bareboat charterer
to comply with the ISM Code may subject such party to increased liability, may decrease available insurance coverage for the affected
vessels and may result in a denial of access to, or detention in, certain ports. We rely upon the safety management system that
we and our technical manager have developed for compliance with the ISM Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The ISM Code requires
that vessel operators obtain a safety management certificate for each vessel they operate. This certificate evidences compliance
by a vessel&#146;s management with the ISM Code requirements for a safety management system. No vessel can obtain a safety management
certificate unless its manager has been awarded a document of compliance, issued by classification societies under the authority
of each flag state, under the ISM Code. We have confirmed that Starbulk S.A. has obtained documents of compliance for its offices
and safety management certificates for all of our vessels for which the certificates are required by the IMO. The document of compliance
(the &#147;DOC&#148;) and the safety management certificate (the &#147;SMC&#148;) are renewed every five years, but the DOC
is subject to audit verification annually and the SMC at least every 2.5 years. As of the date of this filing, each of our vessels
is ISM code-certified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Compliance Enforcement</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The flag state, as
defined by the United Nations Convention on Law of the Sea, has overall responsibility for implementing and enforcing a broad range
of international maritime regulations with respect to all ships granted the right to fly its flag. The &#147;Shipping Industry
Guidelines on Flag State Performance&#148; evaluate and report on flag states based on factors such as sufficiency of infrastructure,
ratification, implementation, and enforcement of principal international maritime treaties and regulations, supervision of statutory
ship surveys, casualty investigations and participation at IMO and International Labour Organization (the &#147;ILO&#148;) meetings.
The majority of our vessels are flagged in the Marshall Islands. Marshall Islands flagged vessels have historically received a
good assessment in the shipping industry. We recognize the importance of a credible flag state and do not intend to use flags of
convenience or flag states with poor performance indicators.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, noncompliance
with the ISM Code or other IMO regulations may subject the ship owner or bareboat charterer to increased liability, may lead to
decreases in available insurance coverage for affected vessels and may result in the denial of access to, or detention in, some
ports. The USCG and the European Union (the &#147;EU&#148;) authorities have indicated that vessels not in compliance with the
ISM Code by the applicable deadlines will be prohibited from trading in U.S. and European Union ports, respectively. As of the
date of this report, each of our vessels is ISM Code certified. However, there can be no assurance that such certificate will be
maintained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The IMO continues to
review and introduce new regulations. It is impossible to predict what additional regulations, if any, may be passed by the IMO
and what effect, if any, such regulations might have on our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Greenhouse Gas Regulation</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal; font-style: normal">Currently,
the emissions of greenhouse gases from international shipping are not subject to the Kyoto Protocol to the United Nations Framework
Convention on Climate Change, which entered into force in 2005 and pursuant to which adopting countries have been required to implement
national programs to reduce greenhouse gas emissions. The 2015 United Nations Convention on Climate Change Conference in Paris
did not result in an agreement that directly limited greenhouse gas emissions from shipping. As of January 1, 2013, however, all
new ships must comply with two new sets of mandatory requirements, which were adopted by MEPC in July 2011 to address greenhouse
gas emission from ships. Currently, operating ships are required to develop Ship Energy Efficiency Management Plans (&#147;SEEMPs&#148;),
while minimum energy efficiency levels per capacity mile apply to new ships, as defined by the Energy Efficiency Design Index (&#147;EEDI&#148;).
These requirements could cause us to incur additional compliance costs. The IMO is planning to implement market-based mechanisms
to reduce greenhouse gas emissions from ships at an upcoming MEPC session. The European Parliament and Council of Ministers are
expected to endorse regulations that would require monitoring and reporting of greenhouse gas emissions from marine vessels in
the near future. In the United States, the EPA has issued a finding that greenhouse gases endanger the public health and safety
and has adopted regulations to limit greenhouse gas emissions from certain mobile sources and large stationary sources. The EPA
enforces both the CAA and the international standards found in Annex VI of MARPOL concerning marine diesel emissions, and the sulfur
content found in marine fuel. Any passage of climate control legislation or other regulatory initiatives by the IMO, EU, the U.S.
or other countries where we operate, or any treaty adopted at the international level to succeed the Kyoto Protocol that restrict
emissions of greenhouse gases could require us to make significant financial expenditures, including capital expenditures to upgrade
our vessels, which we cannot predict with certainty at this time.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">The U.S. Oil Pollution Act of 1990 and the Comprehensive
Environmental Response, Compensation and Liability Act</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The U.S. Oil Pollution
Act of 1990 (the &#147;OPA&#148;), established an extensive regulatory and liability regime for the protection and cleanup of
the environment from oil spills. OPA affects all &#147;owners and operators&#148; whose vessels trade in the United States, its
territories and possessions or whose vessels operate in United States waters, which includes the United States&#146; territorial
sea and its 200 nautical mile exclusive economic zone around the United States. The United States has also enacted the Comprehensive
Environmental Response, Compensation and Liability Act (the &#147;CERCLA&#148;), which applies to the discharge of hazardous
substances other than oil, except in limited circumstances, whether on land or at sea. In the case of a vessel, OPA and CERCLA
both define &#147;owner and operator&#148; as &#147;any person owning, operating or chartering by demise the vessel.&#148;
Although OPA is primarily directed at oil tankers (which we do not operate), it also applies to non-tanker ships with respect to
the fuel oil (i.e. bunkers) used to power such ships. CERCLA also applies to our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under OPA, vessel owners
and operators are &#147;responsible parties&#148; and are jointly, severally and strictly liable (unless the spill results solely
from the act or omission of a third party, an act of God or an act of war) for all containment and clean-up costs and other damages
arising from discharges or threatened discharges of oil from their vessels. OPA defines these other damages broadly to include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">injury to, destruction or loss of, or loss of use of, natural resources and the costs of assessment
thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">injury to, or economic losses resulting from, the destruction of real and personal property;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">net loss of taxes, royalties, rents, fees or net profit revenues resulting from injury, destruction
or loss of real or personal property, or natural resources;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">loss of subsistence use of natural resources that are injured, destroyed or lost;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">lost profits or impairment of earning capacity due to injury, destruction or loss of real or personal
property or natural resources; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">net cost of increased or additional public services necessitated by removal activities following
a discharge of oil, such as protection from fire, safety or health hazards, and loss of subsistence use of natural resources.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">OPA contains statutory
caps on liability and damages, but such caps do not apply to direct cleanup costs. Effective November 19, 2015, the USCG adjusted
the limits of OPA liability for non-tank vessels to the greater of $1,100 per gross ton or $939,800 (subject to periodic adjustment
for inflation). These limits of liability do not apply if an incident was proximately caused by the violation of an applicable
U.S. federal safety, construction or operating regulation by a responsible party (or its agent, employee or a person acting pursuant
to a contractual relationship), or a responsible party&#146;s gross negligence or willful misconduct. These limits similarly do
not apply if the responsible party fails or refuses to (i) report the incident where the responsible party knows or has reason
to know of the incident; (ii) reasonably cooperate and assist as requested in connection with oil removal activities; or (iii)
without sufficient cause, comply with an order issued under the Federal Water Pollution Act (Section 311 (c), (e)) or the Intervention
on the High Seas Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The explosion and oil
spill in 2010 with respect to the <I>Deepwater Horizon</I> offshore oil rig in the Gulf of Mexico may also result in additional
regulatory initiatives or statutes, including the raising of liability caps under OPA. For example, on August 15, 2012, the U.S.
Bureau of Safety and Economic Enforcement issued a final drilling safety rule for offshore oil and gas operations that strengthens
the requirements for safety equipment, well control systems, and blowout prevention practices (the &#147;Final Rule&#148;). The
Final Rule took effect on October 22, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">CERCLA contains a similar
liability regime whereby owners and operators of vessels are liable for cleanup, removal and remedial costs, as well as damage
for injury to, or destruction or loss of, natural resources, including the reasonable costs associated with assessing the damage,
health assessments and health effects studies. There is no liability if the discharge of a hazardous substance results solely from
the act or omission of a third party, an act of God or an act of war. Liability under CERCLA is limited to the greater of $300
per gross ton or $5 million for vessels carrying a hazardous substance as cargo and the greater of $300 per gross ton or $500,000
for any other vessel. These limits do not apply (rendering the responsible person liable for the total cost of response and damages)
if the release or threat of release of a hazardous substance resulted from willful misconduct or negligence, or the primary cause
of the release was a violation of applicable safety, construction or operating standards or regulations. The limitation on liability
also does not apply if the responsible person fails or refused to provide all reasonable cooperation and assistance as requested
in connection with response activities where the vessel is subject to OPA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">OPA and CERCLA both
require owners and operators of vessels to establish and maintain with the USCG evidence of financial responsibility sufficient
to meet the maximum amount of liability to which the particular responsible person may be subject. Vessel owners and operators
may satisfy their financial responsibility obligations by providing a proof of insurance, a surety bond, qualification as a self-insurer
or a guarantee. We comply with the USCG&#146;s financial responsibility regulations by providing a certificate of responsibility
evidencing sufficient self-insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently maintain
pollution liability coverage insurance in the amount of $1.0 billion per incident for each of our vessels. If the damages from
a catastrophic spill were to exceed our insurance coverage it could have an adverse effect on our business and results of operation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">OPA specifically permits
individual U.S. states to impose their own liability regimes with regard to oil pollution incidents occurring within their boundaries,
provided they accept, at a minimum, the levels of liability established under OPA. Some states have enacted legislation providing
for unlimited liability for oil spills. In some cases, states that have enacted such legislation have not yet issued implementing
regulations defining vessels owners&#146; responsibilities under these laws. We intend to comply with all applicable state regulations
in the ports where our vessels call. We believe that we are in substantial compliance with all applicable existing state requirements.
In addition, we intend to comply with all future applicable state regulations in the ports where our vessels call.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other Environmental Initiatives</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The U.S. Clean Water
Act (the &#147;CWA&#148;) prohibits the discharge of oil or hazardous substances in U.S. navigable waters unless authorized by
a duly-issued permit or exemption, and imposes strict liability in the form of penalties for any unauthorized discharges. The CWA
also imposes substantial liability for the costs of removal, remediation and damages and complements the remedies available under
OPA and CERCLA. In addition, many U.S. states that border a navigable waterway have enacted environmental pollution laws that impose
strict liability on a person for removal costs and damages resulting from a discharge of oil or a release of a hazardous substance.
These laws may be more stringent than U.S. federal law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The EPA and USCG, have
enacted rules relating to ballast water discharge, compliance with which requires the installation of equipment on our vessels
to treat ballast water before it is discharged or the implementation of other port facility disposal arrangements or procedures
at potentially substantial cost, and/or otherwise restrict our vessels from entering U.S. waters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The EPA has enacted
rules requiring a permit regulating ballast water discharges and other discharges incidental to the normal operation of certain
vessels within United States waters under the Vessel General Permit for Discharges Incidental to the Normal Operation of Vessels
(&#147;the VGP&#148;). For a new vessel delivered to an owner or operator after September 19, 2009 to be covered by the VGP,
the owner must submit a Notice of Intent (&#147;NOI&#148;) at least 30 days before the vessel operates in United States waters.
On March 28, 2013, EPA re-issued the VGP for another five years; this 2013 VGP took effect December 19, 2013. The 2013 VGP contains
numeric ballast water discharge limits for most vessels to reduce the risk of invasive species in US waters, more stringent requirements
for exhaust gas scrubbers and the use of environmentally acceptable lubricants. We have submitted NOIs for our vessels where required
and do not believe that the costs associated with obtaining and complying with the VGP will have a material impact on our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2015, the
Second Circuit Court of Appeals issued a ruling that directed the EPA to redraft the sections of the 2013 VGP that address ballast
water. However, the Second Circuit stated that 2013 VGP will remain in effect until the EPA issues a new VGP. It presently remains
unclear how the ballast water requirements set forth by the EPA, the USCG, and IMO BWM Convention, some which are in effect and
some which are pending, will co-exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The USCG regulations
adopted under the U.S. National Invasive Species Act (the &#147;NISA&#148;) also impose mandatory ballast water management practices
for all vessels equipped with ballast water tanks entering or operating in U.S. waters which require the installation of equipment
to treat ballast water before it is discharged in U.S. waters or, in the alternative, the implementation of other port facility
disposal arrangements or procedures. Vessels not complying with these regulations are restricted from entering U.S. waters. The
USCG must approve any technology before it is placed on a vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the
foregoing, as of January 1, 2014, vessels are technically subject to the phasing-in of these standards. As a result, the USCG has
provided waivers to vessels which cannot install the as-yet unapproved technology. The EPA, on the other hand, has taken a different
approach to enforcing ballast discharge standards under the VGP. On December 27, 2013, the EPA issued an enforcement response policy
in connection with the new VGP in which the EPA indicated that it would take into account the reasons why vessels do not have the
requisite technology installed, but will not grant any waivers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The U.S. Clean Air
Act of 1970, as amended by the Clean Air Act Amendments of 1977 and 1990 (the &#147;CAA&#148;), requires the EPA to promulgate
standards applicable to emissions of volatile organic compounds and other air contaminants. Our vessels are subject to vapor control
and recovery requirements for certain cargoes when loading, unloading, ballasting, cleaning and conducting other operations in
regulated port areas. Our vessels that operate in such port areas with restricted cargoes are equipped with vapor recovery systems
that satisfy these requirements. The CAA also requires states to draft State Implementation Plans (the &#147;SIPs&#148;), designed
to attain national health-based air quality standards in primarily major metropolitan and/or industrial areas. Several SIPs regulate
emissions resulting from vessel loading and unloading operations by requiring the installation of vapor control equipment. As indicated
above, our vessels operating in covered port areas are already equipped with vapor recovery systems that satisfy these existing
requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, compliance
with future EPA and USCG regulations could require the installation of certain engineering equipment and water treatment systems
to treat ballast water before it is discharged or the implementation of other port facility disposal arrangements or procedures
at potentially substantial cost, or may otherwise restrict our vessels from entering U.S. waters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">European Union Regulations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2009, the
EU amended a directive to impose criminal sanctions for illicit ship-source discharges of polluting substances, including minor
discharges, if committed with intent, recklessly or with serious negligence and the discharges individually or in the aggregate
result in deterioration of the quality of water. Aiding and abetting the discharge of a polluting substance may also lead to criminal
penalties. Member States were required to enact laws or regulations to comply with the directive by the end of 2010. Criminal liability
for pollution may result in substantial penalties or fines and increased civil liability claims. The directive applies to all types
of vessels, irrespective of their flag, but certain exceptions apply to warships or where human safety or that of the ship is in
danger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">International Labour Organization</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The International Labour
Organization (the &#147;ILO&#148;) is a specialized agency of the UN with headquarters in Geneva, Switzerland. The ILO has adopted
the Maritime Labor Convention 2006 (the &#147;MLC 2006&#148;). A Maritime Labor Certificate and a Declaration of Maritime Labor
Compliance will be required to ensure compliance with the MLC 2006 for all ships above 500 gross tons in international trade. The
MLC 2006 entered into force on August 20, 2013. We have developed new procedures to ensure full compliance with the requirements
of the MLC 2006.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vessel Security Regulations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since the terrorist
attacks of September 11, 2001, there have been a variety of initiatives intended to enhance vessel security. On November 25, 2002,
the U.S. Maritime Transportation Security Act of 2002 (the &#147;MTSA&#148;) came into effect. To implement certain portions
of the MTSA, in July 2003, the USCG issued regulations requiring the implementation of certain security requirements aboard vessels
operating in waters subject to the jurisdiction of the United States. The regulations also impose requirements on certain ports
and facilities, some of which are regulated by the EPA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Similarly, in December
2002, amendments to SOLAS created a new chapter of the convention dealing specifically with maritime security. The new Chapter
XI-2 became effective in July 2004 and imposes various detailed security obligations on vessels and port authorities, and mandates
compliance with the International Ship and Port Facility Security Code (the &#147;ISPS Code&#148;). The ISPS Code is designed
to enhance the security of ports and ships against terrorism. After July 1, 2004, to trade internationally, a vessel must attain
an International Ship Security Certificate (the &#147;ISSC&#148;) from a recognized security organization approved by the vessel&#146;s
flag state. Among the various requirements are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">on-board installation of automatic identification systems to provide a means for the automatic
transmission of safety-related information from among similarly equipped ships and shore stations, including information on a ship&#146;s
identity, position, course, speed and navigational status;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">on-board installation of ship security alert systems, which do not sound on the vessel but only
alert the authorities on shore;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the development of a ship security plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">ship identification number to be permanently marked on a vessel&#146;s hull;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a continuous synopsis record kept onboard showing a vessel&#146;s history including the name of
the ship, the state whose flag the ship is entitled to fly, the date on which the ship was registered with that state, the ship&#146;s
identification number, the port at which the ship is registered and the name of the registered owner(s) and their registered address;
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">compliance with flag state security certification requirements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A vessel operating
without a valid certificate may be detained at port until it obtains an ISSC, or it may be expelled from port, or refused entry
at port.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The USCG regulations,
intended to align its requirements with international maritime security standards, exempts from MTSA vessel security measures non-U.S.
vessels provided such vessels have on board a valid ISSC that attests to the vessel&#146;s compliance with SOLAS security requirements
and the ISPS Code. Our managers intend to implement the various security measures addressed by MTSA, SOLAS and the ISPS Code, and
we intend that our fleet complies with applicable security requirements. We have implemented the various security measures addressed
by the MTSA, SOLAS and the ISPS Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Inspection by Classification Societies</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Every oceangoing vessel
must be &#147;classed&#148; by a classification society. The classification society certifies that the vessel is &#147;in class&#148;,
signifying that the vessel has been built and maintained in accordance with the rules of the classification society and complies
with applicable rules and regulations of the vessel&#146;s country of registry and the international conventions of which that
country is a member. In addition, where surveys are required by international conventions and corresponding laws and ordinances
of a flag state, the classification society will undertake them on application or by official order, acting on behalf of the authorities
concerned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The classification
society also undertakes on request other surveys and checks that are required by regulations and requirements of the flag state.
These surveys are subject to agreements made in each individual case and/or to the regulations of the country concerned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For maintenance of
the class certification, regular and extraordinary surveys of hull, machinery, including the electrical plant, and any special
equipment classed are required to be performed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Annual Surveys</I>.
For seagoing ships, annual surveys are conducted for the hull and the machinery, including the electrical plant and where applicable
for special equipment classed, within three months before or after each anniversary date of the date of commencement of the class
period indicated in the certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Intermediate Surveys</I>.
Extended annual surveys are referred to as intermediate surveys and typically are conducted two and one-half years after commissioning
and each class renewal. Intermediate surveys may be carried out on the occasion of the second or third annual survey.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Class Renewal Surveys</I>.
Class renewal surveys, also known as special surveys, are carried out for the ship&#146;s hull, machinery, including the electrical
plant, and for any special equipment classed, at the intervals indicated by the character of classification for the hull. At the
special survey the vessel is thoroughly examined, including audio-gauging to determine the thickness of the steel structures. Should
the thickness be found to be less than class requirements, the classification society would prescribe steel renewals. The classification
society may grant a one-year grace period for completion of the special survey. If the vessel experiences excessive wear and tear,
substantial amounts of money may be spent for steel renewals to pass a special survey. In lieu of the special survey every four
or five years, depending on whether a grace period was granted, a ship owner has the option of arranging with the classification
society for the vessel&#146;s hull or machinery to be on a continuous survey cycle, in which every part of the vessel would be
surveyed within a five-year cycle. Upon a ship owner&#146;s request, the surveys required for class renewal may be split according
to an agreed schedule to extend over the entire period of class. This process is referred to as continuous class renewal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All areas subject to
survey as defined by the classification society are required to be surveyed at least once per class period, unless shorter intervals
between surveys are prescribed elsewhere. The period between two subsequent surveys of each area must not exceed five years. Vessels
under five years of age can waive dry docking in order to increase available days and decrease capital expenditures, provided the
vessel is inspected underwater.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Most vessels are also
dry docked every 30 to 36 months for inspection of the underwater parts and for repairs related to inspections. If any defects
are found, the classification surveyor will issue a &#147;recommendation&#148; which must be rectified by the ship owner within
prescribed time limits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Most insurance underwriters
make it a condition for insurance coverage that a vessel be certified as &#147;in class&#148; by a classification society which
is a member of the International Association of Classification Societies (the &#147;IACS&#148;). All our vessels are certified
as being &#147;in class&#148; by RINA, ABS and NKK, major classification societies which are member of IACS. All new and secondhand
vessels that we purchase must be certified prior to their delivery under our standard purchase contracts and memorandum of agreements.
If the vessel is not certified on the date of closing, we have no obligation to take delivery of the vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risk of Loss and Liability Insurance</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The operation of any
dry bulk vessel includes risks such as mechanical and structural failure, hull damage, collision, property loss, cargo, loss or
damage and business interruption due to political circumstances in foreign countries, piracy, hostilities and labor strikes. In
addition, there is always an inherent possibility of marine disaster, including oil spills and other environmental incidents, and
the liabilities arising from owning and operating vessels in international trade. OPA, which imposes virtually unlimited liability
upon owners, operators and demise charterers of vessels trading in the United States exclusive economic zone for certain oil pollution
accidents therein, has made liability insurance more expensive for ship owners and operators trading in the United States market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain hull and
machinery insurance, war risks insurance, protection and indemnity cover, and freight, demurrage and defense cover for our fleet
in amounts that we believe to be prudent to cover normal risks in our operations. Furthermore, while we believe that the insurance
coverage that we will obtain is adequate, not all risks can be insured, and there can be no guarantee that any specific claim will
be paid, or that we will always be able to obtain adequate insurance coverage at reasonable rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hull &amp; Machinery and War Risks Insurance</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain marine,
hull and machinery and war risks insurance, which include the risk of actual or constructive total loss, for all of our vessels.
Our vessels are each covered up to at least their fair market value with deductibles of $100,000&mdash;$150,000 per vessel per
incident. We also maintain increased value coverage for most of our vessels. Under this increased value coverage, in the event
of total loss of a vessel, we will be able to recover the sum insured under the increased value policy in addition to the sum insured
under the hull and machinery policy. Increased value insurance also covers excess liabilities which are not recoverable under our
hull and machinery policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Protection and indemnity
insurance is provided by mutual protection and indemnity associations (&#147;P&amp;I Associations&#148;), which insure liabilities
to third parties in connection with our shipping activities. This includes third-party liability and other related expenses, including
but not limited to, those resulting from the injury or death of crew, passengers and other third parties, the loss or damage to
cargo, claims arising from collisions with other vessels, damage to other third-party property, pollution arising from oil or other
substances and salvage, towing and other related costs, including wreck removal. Our P&amp;I coverage is subject to and in accordance
with the rules of the P&amp;I Association in which the vessel is entered. Protection and indemnity insurance is a form of mutual
indemnity insurance, extended by protection and indemnity mutual associations, or &#147;clubs.&#148; Our coverage is limited
to approximately $6.5 billion, except for pollution which is limited $1 billion and passenger and crew which is limited to $3 billion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our current protection
and indemnity insurance coverage for pollution is $1 billion per vessel per incident. The thirteen P&amp;I Associations that comprise
the International Group insure approximately 90% of the world&#146;s commercial tonnage and have entered into a pooling agreement
to reinsure each association&#146;s liabilities. Each P&amp;I Association has capped its exposure to this pooling agreement at
$6.5 billion. As a member of a P&amp;I Association which is a member of the International Group, we are subject to calls payable
to the associations based on the group&#146;s claim records as well as the claim records of all other members of the individual
associations and members of the pool of P&amp;I Associations comprising the International Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Permits and Authorizations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are required by
various governmental and quasi-governmental agencies to obtain certain permits, licenses and certificates with respect to our vessels.
The kinds of permits, licenses and certificates required depend upon several factors, including the commodity transported, the
waters in which the vessel operates, the nationality of the vessel&#146;s crew and the age of a vessel. We have been able to obtain
all permits, licenses and certificates currently required to permit our vessels to operate. Additional laws and regulations, environmental
or otherwise, may be adopted which could limit our ability to do business or increase the cost of us doing business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><I>Section&nbsp;13(r)
Disclosure </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In accordance with Section&nbsp;13(r) of
the Securities Exchange Act of 1934, as amended, Oaktree Capital Group, LLC provided us with the following disclosure regarding
activities that occurred during the year ended December 31, 2015. The disclosure relates to a vessel that is indirectly owned by
funds managed by Oaktree. We might be deemed to be an affiliate of Oaktree pursuant to Exchange Act Rule 12b-2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We did not independently verify or participate in the preparation
of any of the disclosure reproduced below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Disclosure Pursuant to Section 13(r)
of the Securities Exchange Act of 1934 </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 13(r) of the Securities Exchange
Act of 1934 requires each issuer registered with the SEC to disclose in its annual or quarterly reports whether it or any of its
&#147;affiliates&#148; have knowingly engaged in certain specified activities, including transactions or dealings with the Government
of Iran. Because the term &#147;affiliate&#148; is broadly interpreted pursuant to Exchange Act Rule 12b-2, certain activities
that occurred during the fiscal year ended December 31, 2015 may be deemed to have been conducted by one of our affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On or around April 28, 2015, the Maersk
Tigris, a Marshall Islands-flagged vessel (the &#147;Vessel&#148;) that is indirectly owned by funds managed by Oaktree as investment
manager, was seized by the Iran Revolutionary Guard Corps and escorted towards the Iranian port of Bandar Abbas. The Vessel was
detained by the Iran Revolutionary Guard until May 7, 2015. During the pendency of the Vessel&#146;s seizure, the Vessel&#146;s
ship master purchased certain necessary provisions to maintain the health, safety and/or security of the Vessel&#146;s crew. Neither
the Vessel nor any entity affiliated with the Vessel derived any revenues or profits from this activity, and neither the Vessel
nor any entity affiliated with the Vessel intends for the activity to continue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Organizational structure</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, we are the sole owner of all of the outstanding shares of the subsidiaries listed in Note 1 of our consolidated financial
statements under Item 18. &#147;Financial Statements&#148;. We also own 33% of the total outstanding common stock of Interchart.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">Property, plant and equipment</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not own any real
property. Our interests in the vessels in our fleet are our only material properties. See Item 4. &#147;Business overview&mdash;Our
Fleet.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 4A.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp; </FONT>Unresolved Staff Comments</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 5.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Operating and Financial Review and Prospects</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following management&#146;s
discussion and analysis of financial condition and results of operations should be read in conjunction with &#147;Item 3. Key
Information &ndash; Selected Financial Data&#148;, &#147;Item 4. Business Overview&#148; and our historical consolidated financial
statements and accompanying notes included elsewhere in this report. This discussion contains forward-looking statements that reflect
our current views with respect to future events and financial performance. Our actual results may differ materially from those
anticipated in these forward-looking statements as a result of certain factors, such as those set forth in &#147;Item 3. Key Information
&ndash; D. Risk Factors&#148; and elsewhere in this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are an international
shipping company with extensive operational experience that owns and operates a fleet of dry bulk carrier vessels. Our vessels
transport a broad range of major and minor bulk commodities, including ores, coal, grains and fertilizers, along worldwide shipping
routes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Operating Results</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, we employ eight of our vessels on medium to long-term time charters with an average remaining term of approximately 0.6 years
and 64 of our vessels in the spot market under short-term time charters or voyage charters. Under our time charters, the charterer
typically pays us a fixed daily charterhire rate and bears all voyage expenses, including the cost of bunkers (fuel oil) and port
and canal charges. We remain responsible for paying the chartered vessel&#146;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 we also pay 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 are also responsible for the dry docking costs related to our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Eight of our vessels
in our fleet are employed on medium to long-term time charters, scheduled to expire from June 2016 until May 2017. In the future,
we may employ these and our other vessels in the spot market under short term time charters or voyage charters, under bareboat
charters, under contracts of affreighment, or in dry bulk carrier pools.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Key Performance Indicators</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business is comprised
of the following main elements:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">employment and operation of dry bulk vessels constituted our operating fleet ; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">management of the financial, general and administrative elements involved in the conduct of our
business and ownership of dry bulk vessels constituted our operating fleet.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The employment and
operation of our vessels require the following main components:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel maintenance and repair;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">crew selection and training;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel spares and stores supply;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">contingency response planning;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">onboard safety procedures auditing;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">accounting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel insurance arrangement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel chartering;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel security training and security response plans pursuant to the requirements of the ISPS Code;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">obtaining ISM Code certification and audits for each vessel within the six months of taking over
a vessel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel hire management;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel surveying; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel performance monitoring.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The management of financial,
general and administrative elements involved in the conduct of our business and ownership of our vessels requires the following
main components:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">management of our financial resources, including banking relationships (i.e., administration of
bank loans and bank accounts);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">management of our accounting system and records and financial reporting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">administration of the legal and regulatory requirements affecting our business and assets; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">management of the relationships with our service providers and customers.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The principal factors
that affect our profitability, cash flows and shareholders&#146; return on investment include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">charter rates and periods of charterhire;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">levels of vessel operating expenses;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">depreciation and amortization expenses;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">financing costs; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">fluctuations in foreign exchange rates.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the
important measures for analyzing trends in the results of operations consist of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B><I>Average number of vessels</I></B> is the number of vessels that constituted our operating
fleet (including charter-in vessels) for the relevant period, as measured by the sum of the number of days all vessels were part
of our operating fleet during the period divided by the number of calendar days in that period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B><I>Ownership days</I></B> are the total number of calendar days all operating vessels in our
fleet were owned by us for the relevant period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B><I>Available days</I></B><I>&nbsp;</I>for the fleet are equal to the ownership and charter-in
days minus off-hire days, as a result of major repairs, dry docking or special or intermediate surveys and lay-up days, if any.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B><I>Voyage days</I></B><I>&nbsp;</I>are equal to the total number of days the vessels were in
our possession or chartered-in for the relevant period minus off-hire days incurred for any reason (including off-hire for dry
docking, major repairs, special or intermediate surveys, transfer of ownership or lay-up days, if any).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B><I>Fleet utilization</I></B> is calculated by dividing voyage days by available days for the
relevant period. Ballast days for which a charter is not fixed are not included in the voyage days for the fleet utilization calculation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B><I>Time charter equivalent rate</I></B><I>. </I>Our method of calculating the time charter equivalent
rate (the &#147;TCE rate&#148;) 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. The following table reflects
our voyage days, ownership days, fleet utilization and TCE rates for the periods indicated:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; border-bottom: Black 1pt solid">(TCE rates expressed in U.S. dollars)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year<BR> Ended<BR> December<BR> 31, 2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year<BR> Ended<BR> December<BR> 31, 2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year<BR> Ended<BR> December<BR> 31, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%">Average number of vessels&#9;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">13.34</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">28.88</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">69.35</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt">Number of vessels in operation (as of the last day of the periods<BR> reported) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Average age of operational fleet (in years) &#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ownership days&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,868</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,541</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,206</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Available days&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,763</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,413</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,204</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Voyage days for fleet&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,651</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,948</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,171</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Fleet Utilization&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Time charter equivalent rate&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,427</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,161</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,063</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Voyage Revenues&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68,296</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">145,041</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">234,035</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Time Charter Equivalent (TCE)</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Time charter equivalent
rate (the &#147;TCE rate&#148;) is a measure of the average daily revenue performance of a vessel on a per voyage basis. 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&#146;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. We 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. The TCE rate is also included herein because it is a standard
shipping industry performance measure and we believe that it presents useful information to investors. Our calculation of TCE,
however, may not be comparable to that reported by other companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
reflects the calculation of our TCE rates and the reconciliation of TCE revenue to voyage revenue as reflected in the consolidated
statement of operations:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">(<I>In thousands of U.S. Dollars, except as otherwise stated)</I></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year<BR> Ended<BR> December<BR> &nbsp;31, 2013</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year<BR> Ended<BR> December<BR> 31, 2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year<BR> Ended<BR> December<BR> &nbsp;31, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left">Voyage revenues&#9;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">68,296</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">145,041</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">234,035</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Less:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Voyage expenses&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,549</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(42,341</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(72,877</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -8.65pt; padding-left: 8.65pt">Amortization of fair value of above market acquired time charter agreements&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,352</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,113</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,540</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Time Charter equivalent revenues&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">67,099</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">108,813</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">170,698</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Voyage days for fleet&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,651</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,948</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Time charter equivalent (TCE) rate (in U.S. Dollars) &#9;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,427</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">12,161</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,063</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Voyage Revenues</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vessel Voyage Expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Voyage expenses include,
port and canal charges, agency fees, fuel (bunker) expenses and brokerage commissions payable to related and third parties.<FONT STYLE="background-color: white">&nbsp;</FONT>Our
voyage expenses primarily consist of bunkers cost and commissions paid for the chartering of our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Charter-in Hire Expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Expenses related to
the chartering-in of vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage, except
for the hire expense for chartering-in the respective vessels, which is included within &#147;Charter - in hire expense&#148;
in the consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vessel Operating Expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dry Docking expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Depreciation</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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&#146;s cost less the estimated residual value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">General and Administrative Expenses</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We incur general and
administrative expenses, including our onshore personnel related expenses, directors and executives&#146; compensation, legal,
consulting and accounting expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Interest and Finance Costs</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We incur interest expense
and financing costs in connection with vessel-specific debt and the Notes issued in 2014 relating to the acquisition of our vessels.
We defer financing fees and expenses incurred upon entering into our credit facility and amortize them to interest and financing
costs over the term of the underlying obligation using the effective interest method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gain / (Loss) on Derivative Financial Instruments</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From time to time,
we may take positions in freight derivatives, including freight forward agreements (the &#147;FFAs&#148;) 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. Conversely, if the contracted rate is greater than the settlement
rate, the buyer is required to pay the seller the settlement sum. All of our FFAs are 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. Any such settlements by us or settlements to us under FFAs are recorded as gain or
loss on derivative financial instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Interest income</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We earn interest income
on our cash deposits with our lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Inflation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Foreign Exchange Fluctuations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please see Item 11.
&#147;Quantitative and Qualitative Disclosures about Market Risk.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lack of Historical Operating Data for
Vessels before Their Acquisition by Us</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Consistent with shipping
industry practice, other than inspection of the physical condition of the vessels and examinations of classification society records,
there is no historical financial due diligence process when we acquire vessels. Accordingly, we do not obtain the historical operating
data for the vessels from the sellers because that information is not material to our decision to make vessel acquisitions, nor
do we believe it would be helpful to potential investors in our shares in assessing our business or profitability. Most vessels
are sold under a standardized agreement, which among other things provides the buyer with the right to inspect the vessel and the
vessel&#146;s classification society records. The standard agreement does not give the buyer the right to inspect, or receive
copies of, the historical operating data of the vessel. Prior to the delivery of a purchased vessel, the seller typically removes
from the vessel all records, including past financial records and accounts related to the vessel. In addition, the technical management
agreement between the seller&#146;s technical manager and the seller is automatically terminated and the vessel&#146;s trading
certificates are revoked by its flag state following a change in ownership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Consistent with shipping
industry practice, we treat the acquisition of a vessel (whether acquired with or without charter) as the acquisition of an asset
rather than a business, which we believe to be in accordance with applicable U.S. GAAP and rules of the Commission. Where a vessel
has been under a voyage charter, the vessel is delivered to the buyer free of charter. In the shipping industry, the last charterer
of the vessel in the hands of the seller rarely continues as the first charterer of the vessel in the hands of the buyer. In most
cases, when a vessel is under time charter and the buyer wishes to assume that charter, the vessel can be acquired only if the
charterer consents to the acquisition and the buyer enters into a separate direct agreement (called a novation agreement) with
the charterer to assume the charter. The purchase of a vessel itself does not transfer the charter because the latter is a separate
services agreement between the vessel owner and the charterer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Where we identify any
intangible assets or liabilities associated with the acquisition of a vessel, we allocate the purchase price of acquired tangible
and intangible assets based on their relative fair values. Where we have either assumed an existing charter obligation or entered
into a time charter with the existing charterer in connection with the purchase of a vessel at charter rates that are less than
market charter rates, we record a liability based on the difference between the assumed charter agreement rate and the market charter
rate for an equivalent charter agreement. Conversely, where we either assume an existing charter obligation or enter into a time
charter with the existing charterer in connection with the purchase of a vessel at charter rates that are above prevailing market
charter rates, we record an asset based on the difference between the market charter rate and the assumed contracted charter rate
for an equivalent vessel. This determination is made at the time the vessel is delivered to us, and such assets and liabilities
are amortized to revenue over the remaining period of the charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When we purchase a
vessel and assume or renegotiate a related time charter, depending on the charter party terms, we may need to take the following
steps before the vessel is ready to commence operations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">obtain the charterer&#146;s consent to us as the new owner;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">obtain the charterer&#146;s consent to a new technical manager;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">arrange for a new crew for the vessel, and where the vessel is on charter, in some cases, the crew
must be approved by the charterer;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">replace all hired equipment on board, such as gas cylinders and communication equipment;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">negotiate and enter into new insurance contracts for the vessel through our own insurance brokers;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">in some cases, register the vessel under a flag state and obtain the charterer&#146;s consent
to a new flag for the vessel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">perform the related inspections in order to obtain new trading certificates from the flag state;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">implement a new planned maintenance program for the vessel; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">ensure that the new technical manager obtains new certificates for compliance with the safety and
vessel security regulations of the flag state.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The above discussion
is intended to help you understand how acquisitions of vessels may affect our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Critical Accounting Policies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We make certain estimates
and judgments in connection with the preparation of our consolidated financial statements, which are prepared in accordance with
accounting principles generally accepted in the United States (&#147;U.S. GAAP&#148;), that affect the reported amount of assets
and liabilities, revenues and expenses and related disclosure of contingent assets and liabilities at the date of our consolidated
financial statements. Actual results may differ from these estimates under different assumptions or conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Critical accounting
policies are those that reflect significant judgments or uncertainties, and potentially result in materially different results
under different assumptions and conditions. We have described below what we believe are the most critical accounting policies that
involve a high degree of judgment and the methods of their application. For a description of all of our significant accounting
policies, see Note 2 (Significant Accounting Policies) to our consolidated financial statements included herein for more information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Impairment of
long-lived assets</I></B><FONT STYLE="font-size: 10pt">:&nbsp;We follow guidance related to the impairment or disposal of long-lived
assets, which addresses financial accounting and reporting for such impairment or disposal. The standard requires that long-lived
assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount of the assets may not be recoverable. The guidance calls for an impairment loss
when the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use and eventual disposition
of the asset is less than its carrying amount. The impairment loss is determined by the difference between the carrying amount
of the asset and the fair value of the asset. </FONT>The Company determines the fair value of its assets based on management estimates
and assumptions and by making use of available market data and taking into consideration third party valuations. <FONT STYLE="font-size: 10pt">In
this respect, management regularly reviews the carrying amount of each vessel, including new building contracts, when events and
circumstances indicate that the carrying amount of a vessel might not be recoverable (as determined by comparison to vessel sales
and purchases, business plans, obsolesce or damage to the asset and overall conditions).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When impairment indicators
are present, we determine if the carrying value of each asset is recoverable by comparing (A) the undiscounted cash flows for each
asset, using the Value-In-Use (&#147;VIU&#148;) method, to (B) the carrying values for such asset. Our management&#146;s subjective
judgment is required in making assumptions used in forecasting future operating results for this calculation. Such judgment is
based on current market conditions, historical industry&#146;s and Company&#146;s specific trends, as well as expectations regarding
future charter rates, vessel operating expenses and fleet utilization over the remaining useful life of the vessel, which is assumed
to be 25 years from its delivery from the shipyard. These estimates are also consistent with the plans and forecasts used by the
management to conduct our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undiscounted projected
net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed vessel days
and an estimated daily time charter equivalent rate for the unfixed days over the estimated remaining economic life of each vessel,
net of brokerage and address commissions. Estimates of the daily time charter equivalent for the unfixed days are based on the
current Forward Freight Agreement (&#147;FFA&#148;) rates, for the first three-year period, and historical average rate levels
of similar size vessels for the period thereafter. The expected cash inflows from charter revenues are based on an assumed fleet
utilization rate of approximately 98% for the unfixed days, and take into account that assumed charter rates are based on time
charter equivalent rates, which include the ballast and laden portion of each relevant voyage. In assessing expected future cash
outflows, management forecasts vessel operating expenses, which are based on our internal budget for the first annual period, and
thereafter assume an annual inflation rate of up to 3% (escalating to such level during the first three-year period and capped
at the tenth year), as well as vessel expected maintenance costs (for dry docking and special surveys). The estimated salvage value
of each vessel is $300 per light weight ton, in accordance with our vessel depreciation policy. We use a probability weighted approach
for developing estimates of future cash flows used to test our vessels for recoverability when alternative courses of action are
under consideration (i.e. sale or continuing operation of a vessel). If our estimate of undiscounted future cash flows for any
vessel is lower than the vessel&#146;s carrying value, the carrying value is written down to the vessel&#146;s fair market value
with a charge recorded in earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 30, 2012,
we performed an impairment test and recognized an impairment loss of $303.2 million, thereby adjusting the carrying value of our
vessels to be in line with their market values at that time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2013, we performed impairment review only for the two vessels&nbsp;<I>Star Aurora</I>&nbsp;and&nbsp;<I>Star Polaris</I>&nbsp;whose
carrying values were below their market values, because (i) during the year 2013, the BDI recovered to an annual average of 1,206,
as compared to 920 in 2012; (ii) after the recognized impairment loss of $303.2 million in 2012 as described above, the carrying
values of all of our vessels had been adjusted to be in line with their market values; and (iii) events and circumstances indicated
that, since our latest performed impairment test of September 30, 2012, no adverse factors had occurred or were evidenced that
could indicate that the carrying values of our vessels may not be recoverable. For the impairment review of the&nbsp;<I>Star Aurora</I>&nbsp;and&nbsp;<I>Star
Polaris</I>,&nbsp;we used the same framework for estimating projected undiscounted cash flows as described above. As a result of
the improved market conditions at the time, we indicated that the carrying amount of the respective vessels was recoverable, and
no asset impairment was necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to the continued
global economic downturn and the prevailing conditions in the shipping industry, as of December 31, 2014, we performed an impairment
analysis for 51 of our 62 vessels whose carrying values were above their respective market values. Based on our analysis conducted
under the framework for estimating undiscounted projected cash flows described above, the future undiscounted projected cash flows
expected to be earned by each of these vessels over its operating life were in excess of each vessel&#146;s carrying value. No
asset impairment was, therefore, necessary for the year ended December 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As further discussed
elsewhere in this report, since late December 2014 and up to early 2016, we entered into separate agreements with third parties
to sell 23 of our vessels. As part of these sales, we recognized an impairment loss of $219.4 million. In addition, in view of
the continued economic downturn and the prevailing conditions in the shipping industry, as of December 31, 2015 we performed an
impairment analysis for all of our vessels whose carrying values were above their respective market values. Based on our impairment
analysis conducted under the framework described above, for estimating undiscounted projected net operating cash flows expected
to be earned for certain of our vessels were below their carrying value and accordingly, we recognized an additional impairment
loss of $102.6 million, which took into consideration the possibility of a sale of certain additional vessels if attractive sale
prices are attainable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we believe
that the assumptions used to evaluate potential asset impairment are based on historical trends and are reasonable and appropriate,
such assumptions are highly subjective. To minimize such subjectivity, our analysis for the year ended December 31, 2015, also
involved sensitivity analysis to the model inputs we believe are more important and likely to change. In particular, we modified
the utilization ratio of each vessel, in order to account for the effect of increased idle time of vessels under a weak market
environment. In addition, in terms of our estimates for the charter rates for the unfixed period, we consider that the FFA as
of December 31, 2015, which is applied in our model for the first three years period, approximates historical low levels and fully
reflects the conceivable downside scenario. We, however, sensitized our model with regards to freight rate assumptions for the
unfixed period beyond the first three years. Our sensitivity analysis revealed that, to the extent the historical rates would
not decline by more than a range of 6% to 57%, depending on the vessel, or the utilization rate would not
be reduced by more than a range of 8% to 59%, we would not require to recognize additional impairment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Vessel Acquisitions
and Depreciation</I>:</B> We record the value of our vessels at their cost (which includes acquisition costs directly attributable
to the vessel and delivery expenditures, including pre-delivery expenses and expenditures made to prepare the vessel for its initial
voyage) less accumulated depreciation. We depreciate our vessels on a straight-line basis over their estimated useful lives, after
considering the estimated salvage value. We estimate the useful life of our vessels to be 25 years from the date of initial delivery
from the shipyard, with secondhand vessels depreciated from the date of their acquisition through their remaining estimated useful
life. Effective January&nbsp;1, 2015, and following management&#146;s reassessment of the residual value of our vessels, the estimated
scrap value per light weight tonnage was increased from $200 to $300. The current value of $300 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 (&#147;ASC&#148;) 250, &#147;Accounting Changes and Error Corrections&#148; was applied in our financial statements
prospectively and did not require retrospective application, was to decrease the depreciation expense and the net loss for the
year ended December 31, 2015, by $6.3 million, or $0.03 loss per basic and diluted share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An increase in the
useful life of a vessel or in its residual value would have the effect of decreasing the annual depreciation and extending it into
later periods. A decrease in the useful life of a vessel or in its residual value would have the effect of increasing the annual
depreciation and accelerating it into earlier periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A decrease in the useful
life of the vessel may occur as a result of poor vessel maintenance, harsh ocean going and weather conditions, or poor quality
of shipbuilding. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful
life is adjusted to end at the date such regulations preclude such vessel&#146;s further commercial use. Weak freight market rates
result in owners scrapping more vessels, and scrapping them earlier in their lives due to the unattractive returns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An increase in the
useful life of the vessel may occur as a result of superior vessel maintenance performed, favorable ocean going and weather conditions,
superior quality of shipbuilding, or high freight market rates, which result in owners scrapping the vessels later due to the attractive
cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Fair value of
above/below market acquired time charter</I>: </B>If time charters are assumed when vessels are acquired, we value any asset or
liability arising from the market values of the time charters. The value of above or below market acquired time charters is determined
by comparing existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements
prevailing at the time the foregoing vessels are delivered. Such intangible assets or liabilities are recognized ratably as adjustments
to revenues over the remaining term of the assumed time charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to early time charter
terminations the remaining unamortized balances of the intangible assets and liabilities associated with such below or above market
acquired time charters were recognized as &#147;Gain/(Loss) on time charter agreement termination&#148; or in the accompanying
consolidated statements of operations. See note 7 of our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Stock Incentive
plan awards</I></B>: Stock-based compensation represents the cost of vested and non-vested shares and share options granted to
employees and to directors, for their services, and is included in &#147;General and administrative expenses&#148; in the consolidated
statements of operations. These shares are measured at their fair value equal to the market value of our common stock on the grant
date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value
of such shares is expensed on the grant date. Applicable guidance related to stock compensation describes two generally accepted
methods of recognizing an expense for non-vested share awards with a graded vesting schedule for financial reporting purposes:
(1) the &#147;accelerated method&#148;, which treats an award with multiple vesting dates as multiple awards and results in a
front-loading of the costs of the award; and (2) the &#147;straight-line method&#148;, which treats such awards as a single award
and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting
condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated
method. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently assume
that all non-vested shares and share options will vest. We do not include estimated forfeitures in determining the total stock-based
compensation expense because we estimate the forfeitures of non-vested shares to be immaterial and we did not have forfeitures
in the past. We, however, re-evaluate the reasonableness of our assumption at each reporting period. We pay dividends on all issued
shares regardless of whether they have vested and there is an obligation of the employee to return the dividend if the employment
ceases prior to the date that shares vest. The dividends declared and paid on issued and non-vested shares that are expected to
vest are charged to retained earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Trade accounts
receivable, net</I>:<I>&nbsp;</I></B>The amount shown as trade accounts receivable, at each balance sheet date, includes estimated
recoveries from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, we provide for
doubtful accounts on the basis of identified doubtful receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Derivatives</I>:<I>&nbsp;</I></B>We
designate our derivatives based upon guidance on accounting for derivative instruments and hedging activities, which establishes
accounting and reporting standards for derivative instruments. The guidance on accounting for certain derivative instruments and
certain hedging activities requires all derivative instruments to be recorded on the balance sheet as either an asset or liability
measured at its fair value, with changes in fair value recognized in earnings, unless specific hedge accounting criteria are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Hedge Accounting</I>:</B>
If the instruments are eligible for hedge accounting, at the inception of a hedge relationship, we formally designate and document
the hedge relationship to which we wish to apply hedge accounting and the risk management objective and strategy undertaken for
the hedge. The documentation includes identification of the hedging instrument, hedged item or transaction, the nature of the risk
being hedged and how we will assess the hedging instrument&#146;s effectiveness in offsetting exposure to changes in the hedged
item&#146;s cash flows attributable to the hedged risk. Hedges are expected to be highly effective in achieving offsetting changes
in cash flows and are assessed on an ongoing basis to determine whether they actually have been highly effective throughout the
financial reporting periods for which they were designated. Currently, we are party to interest swap agreements under which we
receive a floating interest rate and pay a fixed interest rate for a certain period in exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Contracts that meet
the strict criteria for hedge accounting are accounted for as cash flow hedges. A cash flow hedge is a hedge of the exposure to
variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly
probable forecasted transaction that could affect profit or loss. For derivatives designated as cash flow hedges, the effective
portion of the changes in their fair value is recorded in Accumulated other comprehensive income/(loss) in equity and is subsequently
recognized in earnings, under &#147;Interest and finance costs&#148; when the hedged items impact earnings, while any ineffective
portion, if any, is recognized immediately in current period earnings under &#147;Gain / (Loss) on derivative financial instruments,
net.&#148; The changes in the fair value of derivatives not qualifying for hedge accounting are recognized in earnings. We discontinue
cash flow hedge accounting if the hedging instrument expires, is sold, terminated or exercised and it or no longer meets all the
criteria for hedge accounting, or if we will discontinue cash flow hedge accounting. At that time, any cumulative gain or loss
on the hedging instrument recognized in equity remains in equity until the forecasted transaction occurs or until it becomes probable
of not occurring. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in
earnings. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is reclassified
to earnings.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Year ended December 31, 2015 compared
to the year ended December 31, 2014.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Voyage revenues</I>:</B>
For the year ended December 31, 2015, total voyage revenues were $234.0 million, compared to $145.0 million for the same period
in 2014. This increase was mainly due to the increase in the average number of our vessels to 69.4 in the year ended December 31,
2015, from 28.9 vessels in the same period in 2014. The increase in voyage revenues from the additional vessels was partially offset
by significantly lower charterhire rates prevailing in the dry bulk market during the year ended December 31, 2015, compared to
the same period in 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Management fee
income</I>:<I>&nbsp;</I></B> Management fee income during the year ended December 31, 2015 was $0.3 million, compared to $2.3 million
for the same period in 2014. This decrease was mainly due to the decrease in the average number of third-party vessels under management
to 1.0 vessel for the year ended December 31, 2015, from 8.6 vessels in the same period in 2014. As a result of the acquisition
of Oceanbulk, 11 Oceanbulk vessels that had been under our management became part of our fleet as of July 11, 2014. We, therefore,
stopped receiving fees for the management of these vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Voyage expenses</I>:</B>
For the year ended December 31, 2015, voyage expenses were $72.9 million, compared to $42.3 million for the year ended December
31, 2014. The increase in voyage expenses was due to the increase in the average number of vessels for the year ended December
31, 2015, as well as the increased level of spot market activity, which is associated with higher voyage expenses than time charters,
partially offset by the decrease in the price of oil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Charter-in hire
expense: </I></B>For the year ended December 31, 2015, charter hire expense was $1.0 million, representing the expense for leasing
back the vessel <I>Astakos</I> (<I>ex-Maiden Voyage</I>), which we sold in September 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Vessel operating
expenses</I>:</B> For the year ended December 31, 2015 and 2014, vessel operating expenses were $112.8 million and $53.1 million,
respectively. The increase in operating expenses was mainly due to higher average number of vessels during the year ended December
31, 2015 as compared to the same period in 2014. Our average daily operating expenses per vessel for the year ended December 31,
2015 were $4,475, compared to $5,037 during the same period in 2014, representing a 11% reduction as a result of synergies and
economies of scale from operating a larger fleet. In addition, vessel operating expenses for the year ended December 31, 2015 and
2014 included $6.1 million and $3.0 million of pre-delivery expenses, respectively, which related to the initial crew manning and
the initial supply of stores for our vessels upon delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Dry docking expenses</I>:</B>
Dry docking expenses for the year ended December 31, 2015 and 2014 were $15.0 million and $5.4 million, respectively. During the
year ended December 31, 2015, 23 of our vessels underwent their periodic dry docking surveys, compared to four vessels in the same
period in 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Depreciation</I>:</B>
Depreciation expense increased to $82.1 million for the year ended December 31, 2015, compared to $37.2 million for the same period
in 2014. The increase was due to the higher average number of vessels in our fleet in the year ended December 31, 2015 compared
to the same period in 2014, 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&#146;s reassessment based on the historical average demolition
prices prevailing in the market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Management fees:
</I></B>Management fees for year ended December 31, 2015 and 2014 were $8.4 million and $0.2 million, respectively. During the
year ended December 31, 2015, management fees included a daily fee of $295 per vessel to SPS, an unaffiliated third party, which
we engaged on January 1, 2015 to provide our fleet with certain procurement and remote vessel performance monitoring services.
In addition, management fees for the year ended December 31, 2015 included a monthly fee of $17,500 we paid to Maryville Maritime
Inc. (&#147;Maryville&#148;) for the management of one of three of the Excel Vessels (<I>Star Martha</I>,<I> Star Pauline </I>and<I>
Star Despoina</I>)<I> </I>until the expiration of their existing time charter agreements (the last expired in November 2015).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>General and administrative
expenses</I>:</B> During the year ended December 31, 2015, we had $23.6 million of general and administrative expenses, compared
to $32.7 million during the year ended December 31, 2014. The decrease was mainly due to non-recurring transaction costs of $9.4
million, which we incurred during the year ended December 31, 2014 in connection with the acquisition of Oceanbulk, and stock-based
compensation expenses of $1.8 million, also incurred during the year ended December 31, 2014, relating to a severance payment to
our former Chief Executive Officer. Excluding the above mentioned non-recurring transaction costs and stock based compensation
expense for both years 2015 and 2014 of $2.7 million and $4.0 million, respectively, general and administrative expenses increased
by 19% because of the increase in average number of employees by 30% during the year 2015 compared to the same period in 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Impairment
loss</I>:<I>&nbsp;</I></B>During the year ended December 31, 2015, we recorded an impairment loss of an aggregate of $322.0 million
relating to: (i) the agreements signed to sell certain operating vessels and newbuilding vessels upon their delivery from the
shipyards, (ii) two agreements to reassign the corresponding leases for two newbuilding vessels back to the vessels&#146; owners
for a one-time refund to us of $5.8 million each, and (iii) our impairment analysis performed for the year ended December
31, 2015. The impairment loss includes an amount of $126.8 million representing write-off of the fair value adjustment recognized
upon our merger with Oceanbulk in July 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Loss on time
charter agreement termination</I>:</B> During the year ended December 31, 2015, we recognized a $2.1 million write-off of the unamortized
fair value of the above market acquired time charter of the vessel <I>Star Big</I> 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Other operational
gain</I>:</B> For the year ended December 31, 2015, other operational gain of $0.6 million mainly consisting of cash received from
the sale of KLC shares acquired in past years in connection with the rehabilitation plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Loss on sale
of vessel</I>:<I>&nbsp;</I></B>During the year ended December 31, 2015 we recognized an aggregate loss on sale of vessels of $20.6
million relating to the sale of certain operating and newbuilding vessels<I>. </I>Total proceeds from these sales were $71.4 million,
of which $1.1 million was received in 2014 as an advance for the sale of the <I>Star Kim</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Interest and
finance costs</I>:</B> Interest and finance costs for the year ended December 31, 2015 and 2014 were $29.7 million and $9.6 million,
respectively. The increase is attributable to the higher average balance of our outstanding indebtedness of $957.1 million for
the year ended December 31, 2015, including $50.0 million under the 8.00% Senior Notes and our capital lease obligations, compared
to $412.3 million for the same period in 2014. In addition, for the year ended December 31, 2015, interest and finance costs included
$2.4 million relating to interest rate swaps compared to $1.1 million for the year ended December 31, 2014. Interest and finance
costs incurred in the year ended December 31, 2015 and 2014 were set-off with interest capitalized from general debt of $12.1 million
and $7.8 million, respectively, in connection with the payments made for our newbuilding vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Loss on debt
extinguishment</I></B>: During the year ended December 31, 2015 and 2014, we recorded $1.0 million and $0.7 million, respectively,
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Gain/ (Loss)
on derivative financial instrument, net:</I></B> We recorded a loss on derivative financial instruments for the year ended December
31, 2015 of $3.3 million, which included realized and unrealized gains/losses from swaps that were de-designated as accounting
cash flow hedges from April 1, 2015 onwards (date of de-designation). Loss on derivative financial instruments of $0.8 million
during the year ended December 31, 2014, represented the non-cash loss from the mark to market valuation of four of our interest
rate swaps up to August 31, 2014, the date we designated the respective interest rate swaps as cash flow hedges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Year ended December 31, 2014 compared
to the year ended December 31, 2013</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Voyage revenues</I>:</B>
Voyage revenues for the years ended December 31, 2014 and 2013, were approximately $145.0 million and $68.3 million, respectively.
This increase was mainly attributable to the increase in the average number of vessels operated during the year ended December
31, 2014 to 28.9, compared to 13.3 during the year ended December 31, 2013, as a result of the 2014 Transactions. This increase
was partially offset by the decrease in the charter rates earned by our vessels for the respective periods. During the year ended
December 31, 2014, our operated vessels earned $12,161 TCE rate per day as compared to $14,427 TCE rate per day, for the year ended
December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Management fee
income</I>:<I>&nbsp;</I></B>For the years ended December 31, 2014 and 2013, management fee income was approximately $2.3 million
and $1.6 million, respectively. The increase was due to the increase in the average number of vessels under management to 8.6 vessels
during the year ended December 31, 2014, from 5.8 during the year ended December 31, 2013. As a result of the July 2014 Transactions,
11 vessels under our management that were part of the fleets of Oceanbulk and the Pappas Companies became part of our fleet as
of July 11, 2014. We, therefore, stopped receiving fees for the management of these 11 vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Voyage expenses</I>:</B>
For the years ended December 31, 2014 and 2013, voyage expenses were approximately $42.3 million and $7.5 million, respectively.
Consistent with dry bulk industry practice, we paid broker commissions as a percentage of the total daily charterhire rate of each
charter to ship brokers associated with the charter. Additionally, effective January 1, 2014, we began to pay a fixed brokerage
fee to Interchart. Voyage expenses also consist of fees for hiring, port, canal and fuel costs. The increase in voyage expenses
was mainly attributable to the increase in the average number of vessels for the year ended December 31, 2014, as a result of the
2014 Transactions, and the increased level of spot market activity, which resulted in higher port, canal and fuel costs, compared
to the year ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Vessel operating
expenses</I></B>: For the years ended December 31, 2014 and 2013, our vessel operating expenses were approximately $53.1 million
and $27.1 million, respectively. The increase in operating expenses was mainly due to higher average number of vessels during the
year ended December 31, 2014, as compared to the year ended December 31, 2013, as a result of the 2014 Transactions. In addition,
vessel operating expenses for the year ended December 31, 2014 and 2013 include $3.0 million and $0.2 million, respectively, related
to one-time pre-delivery and pre-joining expenses incurred in connection with the delivery of the new vessels in our fleet. Pre-joining
and pre-delivery expenses relate to the expenses for the initial crew manning, as well as the initial supply of stores for the
vessel upon delivery. Our average daily operating expenses per vessel for the year ended December 31, 2014, were $5,037, compared
to $5,564 during the year ended December 31, 2013, representing a 10% reduction, as a result of synergies and economies of scale
from operating a larger fleet. Excluding the amount of pre-joining and pre-delivery expenses, our average daily operating expenses
per vessel for the year ended December 31, 2014 and 2013 would have been $4,750 and $5,523, respectively, which would have represented
a decrease of 14%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Dry docking expenses</I>:</B>
For the year ended December 31, 2014 and 2013, our dry docking expenses were $5.4 million and $3.5 million, respectively. During
the year ended December 31, 2014, two of our Capesize vessels and two Supramax vessels underwent dry docking surveys. Dry docking
expenses were higher in 2014 mainly due to the fact that one of the Capesize vessels in dry dock was one of our oldest vessels.
During the year ended December 31, 2013, one Capesize and three Supramax vessels underwent dry docking surveys.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Depreciation</I>:</B>
For the years ended December 31, 2014 and 2013, we recorded vessel depreciation charges of $37.2 million and $16.1 million, respectively.
The increase in depreciation was due to the increase in the average number of vessels in our fleet during the year ended December
31, 2014, as compared to the year ended December 31, 2013, as a result of the 2014 Transactions, and the corresponding increase
in the depreciable asset base.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>General and administrative
expenses</I>:</B> For the years ended December 31, 2014 and 2013, general and administrative expenses were $32.7 million and $9.9
million, respectively. For the year ended December 31, 2014, our general and administrative expenses consisted of salaries and
other related costs of our executive officers and other employees ($11.2 million), office renovation costs and office rents, legal,
accounting costs and consultancy fees, regulatory compliance costs and other miscellaneous expenses ($6.3 million), costs related
to vested and non-vested stock grants under the equity incentive plan ($4.0 million), severance payment in shares to our former
Chief Executive Officer pursuant to the terms of his release agreement ($1.8 million), and acquisition costs in connection with
the July 2014 Transactions ($9.4 million). For the year ended December 31, 2013, our general and administrative expenses consisted
of salaries and other related costs of our executive officers and other employees ($6.2 million), office renovation costs and office
rents, legal, accounting costs and consultancy fees, regulatory compliance costs and other miscellaneous expenses ($2.2 million)
and costs related to vested and non-vested stock grants under the equity incentive plan ($1.5 million). The increase in salaries
and other related costs of our executive officers and other employees was due to the higher number of employees during the year
ended December 31, 2014, as compared to the year ended December 31, 2013, as a result of the growth of our fleet due to the 2014
Transactions, and in anticipation of the deliveries of our newbuilding vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Bad debt expense</I>:
</B>For the year ended December 31, 2014, we recognized bad debt expense of $0.2 million, representing a write off related to unpaid
hires from charterers, since we determined that such amounts were not recoverable. No bad debt expense was recognized during the
year ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Other operational
loss</I>: </B>For the year ended December 31, 2014, other operational loss was $0.1 million. In September 2010, we signed an agreement
to sell a 45% interest in the future proceeds related to the settlement of certain commercial claims. As a result, in connection
with the settlement of one of the commercial claims described in other operational gain below, for the year ended December 31,
2013, we incurred an expense of $1.1 million, which is included under other operational loss for the year ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Other operational
gain</I>:</B> For the year ended December 31, 2014, other operational gain was $10.0 million and mainly consisted of: (i) $8.0
million of revenue from the sale to a third party of the claim against the previous charterer of <I>Star Borealis</I> for charter
party repudiation due to early redelivery of the vessel (please see Item 8. &#147;Financial Information &ndash; Consolidated statements
and other financial information - Legal proceedings&#148;); (ii) $1.4 million regarding the extinguishment of the liability to
the previous charterer of <I>Star Borealis</I>, related to the amount of fuel and lubricants remaining on board at the time of
the charter repudiation; (iii) $0.2 million received as a rebate from our previous manning agent; and (iv) a $0.5 million gain
derived from a hull and machinery and protection and indemnity claims. For the year ended December 31, 2013, other operational
gain was $3.8 million and mainly consisted of: (i) $2.7 million revenue, related to the payment of installments due to us under
settlement agreements for two commercial claims; and (ii) $1.0 million of gain from a hull and machinery insurance claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Gain from bargain
purchase</I>:</B> For the year ended December 31, 2014, we recorded a gain from bargain purchase of $12.3 million, representing
the excess of the fair value of the net assets acquired in the acquisition of Oceanbulk and the Pappas Companies, over the aggregate
purchase consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Interest and
finance costs</I>:</B><FONT STYLE="background-color: white">&nbsp;</FONT>For the year ended December 31, 2014 and 2013, interest
and finance costs were $9.6 million and $6.8 million, respectively. The increase is attributable to higher average balance of our
outstanding indebtedness amounting to $412.3 million for the year ended December 31, 2014, compared to $200.2 million for the year
ended December 31, 2013. Additionally for the year ended December 31, 2014, interest and finance costs include an amount of $1.1
million relating to interest rate swap settlements. No interest swap settlements were included in interest and finance costs for
the year ended December 31, 2013, since at that time our interest rate swaps did not qualify for hedge accounting. Interest and
finance costs, for the year ended December 31, 2014 and 2013, also included interest capitalized from general debt amounting to
$7.8 million and $0.6 million, respectively, in connection with our newbuilding vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Interest and
other income:</I></B> For the year ended December 31, 2014 and 2013, interest income was $0.6 million and $0.2 million, respectively.
The increase was mainly due to an increased average cash balance during the year ended December 31, 2014, as compared to the year
ended December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Gain/ (Loss)
on derivative financial instrument, net:</I></B> Loss on derivative financial instruments of $0.8 million for the year ended December
31, 2014 represents the non-cash loss from the mark to market valuation of four of our interest rate swaps up to August 31, 2014,
the date we designated the respective interest rate swaps as cash flow hedges. The change in the fair value of these swaps after
the hedging designation was recorded in equity to the extent these hedges were effective. Gain on derivative financial instruments
of $0.09 million during the year ended December 31, 2013, represented the non-cash gain from the mark to market valuation of two
interest rate swaps outstanding as of December 31, 2013, that were not designated as cash flow hedges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Loss on debt
extinguishment:</I>&nbsp;</B>During the year ended December 31, 2014, we recorded an amount of $0.7 million under loss on debt
extinguishment, in connection with the non-cash write off of unamortized deferred finance charges due to the partial prepayment
of the Excel Vessel Bridge Facility (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Recent Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See Note 2 to our consolidated
financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Liquidity and Capital Resources</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our principal source
of funds has been equity provided by our shareholders, additional debt under secured credit facilities or unsecured bond notes,
capital leases 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 loan facilities, and pay dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our short-term liquidity
requirements relate to servicing our debt, paying of operating costs, funding working capital requirements and maintaining cash
reserves against fluctuations in operating cash flows and paying cash dividends when permissible. Our primary source of short-term
liquidity is our operating revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our medium- and long-term
liquidity requirements relate to funding the equity portion of any possible investments in additional secondhand vessels, newbuilding
vessels and the repayment of long-term debt balances. Sources of funding for our medium- and long-term liquidity requirements include
new loans, capital leases, equity issuance or vessel sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Recent Equity Offerings and Senior Notes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 25, 2013, pursuant
to the Rights Offering, approved by our Board of Directors in April 2013, we issued 15,338,861 shares of common stock, which resulted
in net proceeds of approximately $77.9 million, after deducting offering expenses of $2.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 7, 2013,
we issued and sold 8,050,000 common shares in an underwritten public offering, which resulted in net proceeds of approximately
$68.1 million, after deducting offering expenses of $2.7 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 6, 2014,
we issued $50.0 million aggregate principal amount of 8.00% Senior Notes due 2019 (the &#147;2019 Notes&#148;). The 2019 Notes
mature in November 2019 and are senior, unsecured obligations of Star Bulk Carriers Corp. The 2019 Notes are not guaranteed by
any of our subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 14, 2015,
we issued and sold 49,000,418 common shares in an underwritten public offering, at a price of $5.00 per share. The aggregate proceeds
net of underwriting commissions were $242.2 million, which we used for the financing of our newbuilding program and general corporate
purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 18, 2015, we
issued and sold 56,250,000 common shares in an underwritten public offering, at a price of $3.20 per share. The aggregate proceeds
net of underwriting commissions were $175.6 million, which we used for the financing of our newbuilding program and general corporate
purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Significant Changes in our Fleet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 11, 2014, we
completed the July 2014 Transactions. A total of 54,104,200 of our common shares were issued to the various selling parties in
the July 2014 Transactions, of which 45,460,324 shares were issued to Oaktree, and 8,643,876 were issued to the owners of the Pappas
Companies. In the July 2014 Transactions we acquired 12 then-existing vessels, 25 contracts for newbuilding vessels and an equity
interest in Heron, which eventually resulted in the distribution to us of two additional vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2014, we
entered into definitive agreements relating to the Excel Transactions with Excel, pursuant to which we are acquired the 34 Excel
Vessels for an aggregate of 29,917,312 common shares and $288.4 million of cash. At the transfer of each Excel Vessel, we paid
the cash and share consideration for such Excel Vessel to Excel. We used cash on hand, together with borrowings under various of
our credit facilities (described below), to pay the cash consideration for the Excel Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since late December
2014, we entered into separate agreements with third parties to sell 17 of our vessels (<I>Star Big, Star Mega, Maiden Voyage,
Star Natalie, Star Tatianna, Star Christianna, Star Monika, Star Julia, Star Kim, Star Nicole, Rodon, Star Claudia, Indomitable,
Magnum Opus, Tsu Ebisu, Deep Blue </I>and <I>Obelix</I>). Of these vessels, 12 were delivered to their purchasers in 2015, while
the remaining five (<I>Indomitable, Magnum Opus, Tsu Ebisu, Deep Blue and Obelix</I>) were delivered to their purchasers in early
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, in
2015 and early 2016, we entered into separate agreements with third parties to sell the newbuilding vessels <I>Behemoth,</I> <I>Bruno
Marks, Megalodon, Star Aries, Jenmark, </I>and <I>Star Taurus</I> upon their delivery to us from the shipyard.<I> </I>The
first four of these vessels were delivered to purchasers in January and February 2016, while the remaining two are
expected to be delivered in March 2016 and April 2016, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">As
of February 29, 2016, the total payments for our ten newbuilding vessels were expected to be $471.8 million, of which we had already
paid $112.1 million. As of February 29, 2016, we had obtained commitments for $291.6 million of secured debt for our newbuilding
vessels (other than the two newbuilding vessels which will be sold upon their delivery to us). A portion of the net proceeds from
our sale of the $50.0 million 2019 Notes, from the January 2015 Equity Offering and the May 2015 Equity Offering will also be
used for the financing of our current capital expenditures.</FONT> The remaining payments for the newbuilding vessels are expected
to be paid from cash on hand or from proceeds of additional debt, capital leases or equity financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2014, we had outstanding borrowings of $861.8 million, including the $50.0 million under the issued 2019 Notes, of which $96.5
million is scheduled to be repaid in the next twelve months. As of December 31, 2015, we had outstanding borrowings of $991.3million,
including the $50.0 million under the issued 2019 Notes and recognized capital lease obligations of $79.5 million, of which
$117.4 million was scheduled to be repaid in the next twelve months (without including the shortfall in the SCR). As of
February 29, 2016 we had $175.8 million in cash and outstanding borrowings of $1,016.7 million, including the $50.0 million
under the issued 2019 Notes and the amount of $78.8 million under our capital lease obligations. See Note 8 of our consolidated
financial statements for the outstanding borrowings of each of our Senior Secured Credit Facilities, all of which are described
below and Notes 5 and 6 for our capital leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that our
current cash balance and our operating cash flows will be sufficient to meet our 2016 liquidity needs, even though the dry bulk
charter market has remained at relatively depressed levels throughout 2013, 2014 and 2015. Since the last quarter of 2014, the
dry bulk shipping industry has experienced very low charter rates, and if such rates continue at such levels, our operating cash
flows may be adversely affected. As a result, we may be required to sell additional vessels or obtain additional financing (either
equity or debt financing) in order to meet our liquidity needs. Our results of operations have been and may in the future be adversely
affected if market conditions do not improve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may fund possible
growth through our cash balances, operating cash flows, additional long-term borrowing, capital leases and the issuance of new
equity. Our practice has been to acquire dry bulk carriers using a combination of funds from operations and bank debt secured by
mortgages on our dry bulk carriers. 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
acquisitions will be principally subject to management&#146;s expectation of future market conditions as well as our ability to
acquire dry bulk carriers on favorable terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cash and cash equivalents
as of December 31, 2015, amounted to $208.1 million, compared to $86.0 million as of December 31, 2014. We define working capital
as current assets minus current liabilities, including the current portion of long-term debt. Our working capital surplus was
$85.1 million as of December 31, 2015, compared to working capital deficit of $5.8 million as of December 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015 and 2014, we were required to maintain minimum liquidity, not legally restricted, of $150.0 million and $35.4 million, respectively,
which is included within &#147;Cash and cash equivalents&#148; in 2015 and 2014 balance sheets, respectively. In addition, as
of December 31, 2015 and 2014, we were required to maintain minimum liquidity, legally restricted, of $14.0 million and $14.0 million,
respectively, which is included within &#147;Restricted cash&#148; in the 2015 and 2014 balance sheets, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that our
current cash balance and our operating cash flow will be sufficient to meet our liquidity needs over the next twelve months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Year ended December 31, 2015 compared to the year
ended December 31, 2014</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Net Cash Provided By Operating Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net cash used in operating
activities for the year ended December 31, 2015, were $14.6 million while net cash provided by operating activities for the year
ended December 31, 2014 were $12.8 million. The TCE rate for the year ended December 31, 2015 and 2014 was $8,063 and $12,161,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Net Cash Used In/ Provided By Investing
Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">Net
cash used in investing activities for the year ended December 31, 2015 and 2014, was $397.5 million and $437.1 million, respectively</FONT>.For
the year ended December 31, 2015, net cash used in investing activities consisted of: (i) <FONT STYLE="background-color: white">$434.3
million paid for advances and other capitalized expenses for our newbuilding vessels</FONT>; (ii) <FONT STYLE="background-color: white">$39.5
million paid for the acquisition of secondhand vessels (for the last six Excel Vessels)</FONT>; (iii) <FONT STYLE="background-color: white">$0.1
million for the acquisition of other fixed assets</FONT>; offset by (iv) <FONT STYLE="background-color: white">$70.3 million of
proceeds from the sale of vessels</FONT>; (v) <FONT STYLE="background-color: white">a one-time refund of $5.8 million received
in connection with our agreement to reassign a lease for a newbuilding vessel back to the vessel&#146;s owner</FONT>; and (vi)
<FONT STYLE="background-color: white">$0.3 million of hull and machinery insurance proceeds</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2014, net cash used in investing activities consisted of: (i) $117.9 million paid for advances and other capitalized
expenses for our newbuilding vessels; (ii) $400.0 million paid for the acquisition of secondhand vessels (including the Heron Vessels
and most of the Excel Vessels); (iii) $0.6 million paid for the acquisition of other fixed assets; (iv) $0.2 million paid for the
acquisition of 33% of the total outstanding common stock of Interchart Shipping Inc., a Liberian company that acts as a chartering
broker to our fleet; (v) $4.9 million cash consideration paid for the acquisition of above fair market charters attached to three
of the Excel Vessels; and (vi) a net increase of $11.5 million in restricted cash, offset by: (i) hull and machinery insurance
proceeds amounting to $0.6 million; (ii) $96.3 million cash assumed as part of the acquisition of Oceanbulk and the Pappas Companies;
and (iii) $1.1 million cash received in December 2014, representing a 20% advance in connection with the sale of <I>Star Kim</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Net Cash Provided By/ Used In Financing
Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">Net
cash provided by financing activities for the year ended December 31, 2015 and 2014 was $534.2 million and $456.7 million, respectively</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">For
the year ended December 31, 2015, net cash provided by financing activities consisted of</FONT>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: -pt; margin-left: 35pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: center">(i)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">proceeds from </FONT>bank loans and
Excel Vessel Bridge Facility <FONT STYLE="background-color: white">of $291.3 million for:</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 55pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: right"><FONT STYLE="background-color: white">(1)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">the financing of delivery installments for
nine of our newbuilding vessels that were delivered during the period;</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 55pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: right"><FONT STYLE="background-color: white">(2)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">cash consideration for the acquisition of
the last six Excel Vessels; and</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 55pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: right"><FONT STYLE="background-color: white">(3)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="background-color: white">the
repayment in full of the Excel Vessel Bridge Facility;</FONT></P></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 13pt; text-align: center">(ii)</TD>
    <TD STYLE="width: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="background-color: white">an increase in</FONT> <FONT STYLE="background-color: white">capital
    lease obligations of $82.7 million, relating to four newbuilding vessels delivered during the period under bareboat charters;
    and</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 13pt; text-align: center">(iii)</TD>
    <TD STYLE="width: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="background-color: white">$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&nbsp;million;</FONT> offset by</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 13pt; text-align: center">(iv)</TD>
    <TD STYLE="width: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="background-color: white">financing fees paid of $13.1 million; and</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 13pt; text-align: center">(v)</TD>
    <TD STYLE="width: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">an aggregate of $244.5 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2014, net cash provided by financing activities consisted of:&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: center">(i)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">proceeds from bank loans and the Excel Vessel Bridge Facility of $489.7 million
for the financing of the acquisition of the Excel Vessels, Heron Vessels and other secondhand vessels;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: center">(ii)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">proceeds
from bank loans of $97.5 million for delivery installments for three of our newbuilding vessels (two of them delivered in 2014
and one delivered in early January 2015), <BR></TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: center">(iii)</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">$50.0 million proceeds from the issuance
                                         of our senior unsecured notes due 2019; offset by</TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: center">(iv)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">financing fees paid amounting to $6.5 million; and</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 35pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 13pt; text-align: center">(v)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">regular loan repayment installments as well as partial prepayment of the Excel
                                                                                       Vessel Bridge Facility amounting to $174.0 million.</TD>
</TR></TABLE>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Year ended December 31, 2014 compared to the year
ended December 31, 2013</I></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Net Cash Provided By Operating Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net cash provided by
operating activities for the year ended December 31, 2014 and 2013, were $12.8 million and $27.5 million, respectively. The TCE
rate for the year ended December 31, 2014 and 2013 was $12,161 and $14,427, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Net Cash Used In Investing Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net cash used in investing
activities for the year ended December 31, 2014 and 2013 was $437.1 million and $107.6 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2014, net cash used in investing activities consisted of: (i) $117.9 million paid for advances and other capitalized
expenses for our newbuilding vessels; (ii) $400.0 million paid for the acquisition of secondhand vessels (including the Heron Vessels
and most of the Excel Vessels); (iii) $0.6 million paid for the acquisition of other fixed assets; (iv) $0.2 million paid for the
acquisition of 33% of the total outstanding common stock of Interchart Shipping Inc., a Liberian company that acts as a chartering
broker to our fleet; (v) $4.9 million cash consideration paid for the acquisition of above fair market charters attached to three
of the Excel Vessels; and (vi) a net increase of $11.5 million in restricted cash, offset by: (i) hull and machinery insurance
proceeds amounting to $0.6 million; (ii) $96.3 million cash assumed as part of the acquisition of Oceanbulk and the Pappas Companies;
and (iii) $1.1 million cash received in December 2014, representing a 20% advance in connection with the sale of <I>Star Kim</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2013, net cash used in investing activities consisted of $67.9 million paid for advances and other capitalized expenses
for our newbuilding vessels and $59.9 million paid for the acquisition of secondhand vessels and other fixed assets, offset by
$8.3 million of proceeds from the sale of <I>Star Sigma</I>, a decrease of $7.7 million in restricted cash and $4.3 million of
hull and machinery insurance proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Net Cash Provided By Financing Activities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net cash provided by
financing activities for the year ended December 31, 2014 and 2013 was $456.7 and $112.0 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2014, net cash provided by financing activities consisted of: (i) proceeds from bank loans and Excel Vessel Bridge
Facility of $489.7 million for the financing of the acquisition of the Excel Vessels, Heron Vessels and other secondhand vessels;
(ii) proceeds from bank loans of $97.5 million for delivery installments for three of our newbuilding vessels (two of them delivered
in 2014 and one delivered in early January 2015), (ii) $50.0 million proceeds from the issuance of our senior unsecured notes due
2019; (iii) financing fees paid amounting to $6.5 million; and (iv) loan regular repayment installments as well as partial prepayment
of Excel Vessel Bridge Facility amounting to $174.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2013, net cash provided by financing activities consisted of: (i) gross proceeds from the rights offering and the
underwritten public offering of $150.9 million less offering expenses of $4.9 million; (ii) loan installment payments and prepayments
of $33.8 million; and (iii) $0.3 million of financing fees paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Senior Secured Credit Facilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD>Commerzbank $120.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 27, 2007,
we entered into a loan agreement (the &#147;Commerzbank $120.0 million Facility&#148;) with Commerzbank AG (&#147;Commerzbank&#148;)
to provide financing in an amount of up to $120.0 million to partially finance the acquisition cost of the vessels <I>Star Gamma</I>,
<I>Star Delta</I>, <I>Star Epsilon</I>, <I>Star Zeta</I> and <I>Star Theta</I>. The Commerzbank $120.0 million Facility is secured
by a first priority mortgage over the financed vessels. The Commerzbank $120,000 Facility was amended in June and December, 2009.
As amended, the Commerzbank $120.0 million Facility had two tranches. One tranche of $50.0 million was repayable in 28 consecutive
quarterly installments, which commenced in January 2010, and consisted of (i) the first four installments of $2.3 million each,
(ii) the next 13 installments of $1.0 million each, (iii) the remaining 11 installments of $1.3 million each and (iv) a final balloon
payment of $13.7 million payable together with the last installment. The second tranche of $70.0 million was repayable in 28 consecutive
quarterly installments which commenced in January 2010, and consisted of (i) the first four installments of $4.0 million each,
(ii) the remaining 24 installments of $1.8 million each and (iii) a final balloon payment of $12.0 million payable together with
the last installment. The repayment schedule was modified to make the entire amount outstanding under the Commerzbank $120.0 million
Facility payable in October 2016, as described further below under &#147;Restructuring Agreements &ndash; Commerzbank $120.0 million
and $26.0 million Facilities.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD>Commerzbank $26.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 3, 2010,
we entered into a loan agreement with Commerzbank (the &#147;Commerzbank $26.0 million Facility&#148;) to provide financing in
an amount of up to $26.0 million to partially finance the acquisition cost of the vessel <I>Star Aurora.</I> The Commerzbank $26.0
million Facility was secured by a first priority mortgage over the financed vessel. As described below under &#147;Restructuring
Agreements &ndash; Commerzbank $120.0 million and $26.0 million Facilities,&#148; the Commerzbank $26.0 million Facility was fully
repaid in June 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD>Restructuring Agreements - Commerzbank $120.0 million and $26.0 million Facilities</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 17, 2012,
we executed a commitment letter with Commerzbank to amend the Commerzbank $120.0 million Facility and the Commerzbank $26.0 million
Facility. The definitive documentation for the supplemental agreement (the &#147;Commerzbank Supplemental&#148;) was signed on
July 1, 2013. Pursuant to the Commerzbank Supplemental, we paid Commerzbank a flat fee of 0.40% of the combined outstanding loans
under the two facilities and agreed, subject to certain conditions, to (i) amend some of the covenants governing the two facilities,
(ii) require us to prepay $2.0 million pro rata against the balloon payments of each facility and (iii) require us to raise $30.0
million in equity (which condition was satisfied with the completion of our rights offering in July 2013 &ndash; please see the
section of this annual report entitled &#147;Item 5. Operating and Financial Review and Prospects&mdash;B. Liquidity and Capital
Resources&#148;), and (iv) increase the loan margins. In addition, Commerzbank agreed to defer 60% and 50% of the quarterly installments
for the years ended December 31, 2013 and 2014 (the &#147;Deferred Amounts&#148;) to the balloon payments or to a payment in
accordance with a semi-annual cash sweep mechanism, under which all earnings of the mortgaged vessels after operating expenses,
dry docking provision, general and administrative expenses and debt service, if any, will be used as repayment of the Deferred
Amounts. We were not permitted to pay any dividends as long as Deferred Amounts are outstanding and/or until original terms are
complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 30, 2015,
we and Commerzbank AG signed a second supplemental agreement (the &#147;Commerzbank Second Supplemental&#148;). Under the supplemental
agreement, we agreed to (i) prepay Commerzbank AG $3.0 million, (ii) amend some of the covenants governing the facilities and
(iii) change the repayment date relative to Commerzbank $26.0 million tranche from September 7, 2016 to July 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We fully repaid the
Commerzbank $26.0 million Facility in June 2015, and the vessels <I>Star Aurora</I> and <I>Star Zeta</I> were released from the
vessel mortgage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;On June 29, 2015, we and Commerzbank
AG signed a third supplemental agreement (the &#147;Commerzbank Third Supplemental&#148;). Under the Commerzbank Third Supplemental,
we agreed to (i) defer the installment payments under the Commerzbank $120.0 million Facility, until the full repayment in late
October 2016, (ii) add as additional collateral the vessel <I>Star Iris</I>, and (iii)&nbsp;amend some of the covenants governing
this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In early 2016, we agreed in principle
with Commerzbank to a refinancing amendment of the Commerzbank $120.0 million Facility. Pursuant to this refinancing amendment,
we agreed to (a) amend certain covenants governing this facility, (b) change the amortization schedule for this facility, and
(c) extend the repayment date for the facility from October 2016 to October 2018. We expect that the documentation for this refinancing
amendment will be finalized and executed in April 2016.</P>

<P STYLE="margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD>Credit Agricole $70.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 20, 2011,
we entered into a loan agreement with Credit Agricole Corporate and Investment Bank (&#147;Credit Agricole&#148;) for a term
loan up to $70.0 million (the &#147;Credit Agricole $70.0 million Facility&#148;)<I>&nbsp;</I>to partially finance the construction
cost of two newbuilding vessels, <I>Star Borealis</I> and <I>Star Polaris, </I>which were delivered to us in 2011. The Credit Agricole
$70.0 million Facility is secured by a first priority mortgage over the financed vessels and is divided into two tranches. We drew
down $67.3 million under this facility. The Credit Agricole $70.0 million Facility is repayable in 28 consecutive quarterly installments,
commencing three months after the delivery of each vessel, of $0.5 million for each<I>&nbsp;</I>tranche, and a final balloon payment
payable at maturity, of $19.6 million (due August 2018) and $20.1 million (due November 2018) for the <I>Star Borealis</I> and
<I>Star Polaris </I>tranches, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
signed a waiver letter with Credit Agricole in order to revise some of the covenants contained in the loan agreement for a period
up to December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD>ABN AMRO $31.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 21, 2011, we
entered into a senior secured credit facility with ABN AMRO Bank N.V. (&#147;ABN AMRO&#148;) for $31.0 million (the &#147;ABN
AMRO $31.0 million Facility&#148;), to partially finance the acquisition cost of the vessels <I>Star Big</I> and Star Mega. The
ABN AMRO $31.0 million Facility was secured by a first priority mortgage over the financed vessels. The borrowers under the ABN
AMRO $31.0 million Facility were the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. was the
guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March&nbsp;16, 2012,
we and ABN AMRO amended the ABN AMRO $31.0 million Facility under a first supplemental agreement (the &#147;ABN $31.0 million
First Supplemental&#148;). On April 2, 2013, we and ABN AMRO signed a second supplemental agreement (the &#147;ABN $31.0 million
Second Supplemental&#148; and, together with the ABN First Supplemental, the &#147;ABN $31.0 million Supplementals&#148;). Under
the ABN $31.0 million Supplementals, we agreed, subject to certain conditions to (i) revise certain covenants governing this facility,
until December 31, 2014, (ii) require us not to pay dividends until December 31, 2014, and (iii) increase the margin by 50 bps,
beginning on March 31, 2013, until the time we were able to raise at least $30.0 million of additional equity (which condition
was satisfied after the completion of our rights offering in July 2013).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 31, 2015,
we and ABN AMRO signed a third supplemental agreement and agreed to revise certain covenants governing this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2015, we fully
repaid this facility following the sale of the vessels&nbsp;<I>Star Big</I>&nbsp;and&nbsp;<I>Star Mega</I>.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD>HSH Nordbank $64.5 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 3, 2011,
we entered into a $64.5 million secured term loan agreement (the &#147;HSH Nordbank $64.5 million Facility&#148;) with HSH Nordbank
AG (&#147;HSH Nordbank&#148;) to repay, together with cash on hand, certain existing debt. The borrowers under the HSH Nordbank
$64.5 million Facility are the vessel-owning subsidiaries that own the vessels <I>Star Cosmo, Star Kappa, Star Sigma, Star Omicron</I>
and <I>Star Ypsilon</I>, and Star Bulk Carriers Corp. is the guarantor. This facility consists of two tranches. The first tranche
of $48.5 million (the &#147;Supramax Tranche&#148;) is repayable in 20 quarterly consecutive installments of $1.3 million commencing
in January 2012 and a final balloon payment of $23.5 million payable at the maturity in September 2016. The second tranche of $16.0
million (the &#147;Capesize Tranche&#148;) was repayable in 12 consecutive, quarterly installments of $1.3 million, commencing
in January 2012 and matured in September 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 17, 2013, we
and HSH Nordbank signed a supplemental agreement (the &#147;HSH Nordbank $64.5 Supplemental&#148;). Under the HSH Nordbank $64.5
million Supplemental, we agreed, subject to certain conditions, to (i) amend some of the covenants governing this facility, until
December 31, 2014, (ii) defer a minimum of approximately $3.5 million payments from January 1, 2013 until December 31, 2014, (iii)
prepay $6.6 million with pledged cash already held by HSH Nordbank, (iv) require us to raise $20.0 million in equity (which condition
was satisfied after the completion of our rights offering in July 2013 &ndash; please see the section of this annual report entitled
&#147;Item 5. Operating and Financial Review and Prospects&mdash;B. Liquidity and Capital Resources&#148;), (v) increase the
loan margins from January 1, 2013 until December 31, 2014, (vi) include a semi-annual cash sweep mechanism, under which all earnings
of the mortgaged vessels after operating expenses, dry docking provision, general and administrative expenses and debt service,
if any, will be used as prepayment to the balloon payment of the Supramax Tranche, and (vii) require us not to pay any dividends
until December 31, 2014 or later in case of a covenant breach. When we sold the vessel <I>Star Sigma</I> in April 2013, the HSH
Nordbank $64.5 million Supplemental also required us to use the proceeds from the sale to fully prepay the balance of the Capesize
Tranche and use the remaining vessel sale proceeds to prepay a portion of the Supramax Tranche. As a result the next seven scheduled
quarterly installments were reduced pro rata from $0.8 million to $0.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
and HSH Nordbank signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD>HSH Nordbank $35.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 6, 2014,
we entered into a secured term loan agreement (the &#147;HSH Nordbank $35.0 million Facility&#148;) with HSH Nordbank. The borrowings
under this new loan agreement were used to partially finance the acquisition cost of the vessels <I>Star Challenger</I> and <I>Star
Fighter.</I> The HSH Nordbank $35.0 million Facility is secured by a first priority mortgage over the financed vessels. The borrowers
under the HSH Nordbank $35.0 million Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers
Corp. is the guarantor. This facility matures in February 2021 and is repayable in 28 equal, consecutive, quarterly installments,
commencing in May 2014, of $0.3 million for each of the <I>Star Challenger</I> and <I>Star Fighter</I>, and a final balloon payment
of $8.8 million and $9.3 million, payable together with the last installments for <I>Star Challenger</I> and <I>Star Fighter,</I>
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
and HSH Nordbank signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD>Deutsche Bank $39.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 14, 2014,
we entered into a $39.0 million secured term loan agreement with Deutsche Bank AG (the &#147;Deutsche Bank $39.0 million Facility&#148;).
The borrowings under this loan agreement were used to partially finance the acquisition cost of the vessels <I>Star Sirius</I>
and <I>Star Vega.</I> The Deutsche Bank $39.0 million Facility is secured by a first priority mortgage over the financed vessels.
The borrowers under the Deutsche Bank $39.0 million Facility are the two vessel-owning subsidiaries that own the two vessels and
Star Bulk Carriers Corp. is the guarantor.<I>&nbsp;</I>This facility consists of two tranches of $19.5 million each and matures
in March 2021. Each tranche is repayable in 28 equal, consecutive, quarterly installments of $0.4 million each, commencing in June
2014 and a final balloon payment of $8.6 million payable at maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
entered into a supplemental letter with Deutsche Bank AG to amend certain covenants governing this facility until December 31,
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD>DNB-SEB-CEXIM $227.5 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">On
March 31, 2015, we 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&ndash;SEB&ndash;CEXIM $227.5 million Facility&#148;) for up to $227.5 million
to partially finance the construction cost of seven newbuilding vessels, <I>Gargantua</I> (ex-HN166), <I>Goliath</I> (ex-HN167),
<I>Maharaj</I> (ex-HN184), Star Poseidon (ex-HN198), HN1342 (tbn&nbsp;Star Gemini), Star Aries (ex-HN1338) and
HN1339 (tbn&nbsp;Star Taurus). The financing is available in seven separate tranches, one for each newbuilding vessel. The first
tranche of $32.4 million and the second and third tranches of $30.3 million each were drawn, upon the delivery of the vessels
<I>Gargantua</I>, <I>Goliath </I>and <I>Maharaj</I>, in 2015. The fourth tranche of $23.4 million was drawn, upon the delivery
of the vessel <I>Star Poseidon </I>in February 2016. The tranches are repayable in 24 quarterly consecutive installments ranging
between $0.5 million and $0.4 million, with the first becoming due and payable three months from the drawdown date of each tranche
and a final balloon installment for each tranche, ranging between $20.2 million and $14.6 million payable simultaneously with
the 24th&nbsp;instalment. The DNB&ndash;SEB&ndash;CEXIM $227.5 million 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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">On
June 29, 2015, we signed a supplemental letter with the lenders under this facility to amend certain covenants governing this facility
until December 31, 2016. As a result of the sale of the <I>Star Aries</I> and the <I>Star Taurus</I>, we will not draw down on
two tranches under this facility. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD><FONT STYLE="background-color: white">DVB $31.0 million Facility </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">On
May 21, 2015, we entered into an agreement with DVB Bank SE (the &#147;DVB $31.0 million Facility&#148;) for up to $31.0 million
to partially finance the construction cost of&nbsp;the newbuilding vessel <I>Deep Blue</I>&nbsp;(ex-HN 5017). We drew $28.7 million
in May 2015, upon the vessel&#146;s delivery to us. The facility is repayable in 24 equal, consecutive, quarterly principal installments
of $0.5 million each, with the first become becoming due and payable three months from the drawdown date, and a balloon installment
of $17.2 million payable simultaneously with the 24<SUP>th</SUP>&nbsp;instalment in May 2021. The DVB $31.0 million 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. In March 2016, this facility was fully repaid following the sale of the vessel <I>Deep Blue</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.</TD><TD>BNP $39.5 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">On
March 13, 2015, we entered into a committed term sheet with BNP Paribas for up to $39.5 million to partially finance the construction
cost of the newbuilding vessel <I>Megalodon</I> (ex-HN5056) and to refinance the purchase costs of the 2004 built Panamax vessel
Star Emily, which is one of the Excel Vessels. The loan agreement was executed on September 14, 2015 (the &#147;BNP $39.5 million
Facility&#148;). In early 2016, we entered into an agreement to sell the newbuilding vessel <I>Megalodon</I> (ex-HN5056) upon
its delivery to us, and the loan agreement was terminated without having been drawn. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12.</TD><TD>ABN AMRO $87.5 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 1, 2013,
Oceanbulk Shipping entered into a $34.5 million credit facility with ABN AMRO, N.V. (the &#147;ABN AMRO $87.5 million Facility&#148;)
in order to partially finance the acquisition cost of the vessels <I>Obelix</I> and <I>Maiden Voyage</I>. The loans under the ABN
AMRO $87.5 million Facility were available in two tranches of $20.4 million and $14.1 million. On August 6, 2013, Oceanbulk Shipping
drew down the available tranches. On December 18, 2013, the ABN AMRO $87.5 million Facility was amended to add an additional loan
of $53.0 million to partially finance the acquisition cost of the vessels <I>Big Bang, Strange Attractor, Big Fish</I> and <I>Pantagruel</I>.
On December 20, 2013, Oceanbulk Shipping drew down the available tranches. The tranche under the ABN AMRO $87.5 million Facility
relating to vessel <I>Obelix</I> matures in September 2017, the one relating to vessel <I>Maiden Voyage </I>matures in August 2018
and those relating to vessels <I>Big Bang, Strange Attractor, Big Fish </I>and<I> Pantagruel </I>mature in December 2018. The tranches
are repayable in quarterly consecutive installments ranging between $0.2 million to $0.6 million and a final balloon payment for
each tranche at maturity, ranging between $2.5 million and $12.8 million. The ABN AMRO $87.5 million Facility is secured by a first-priority
ship mortgage on the financed vessels and general and specific assignments and was guaranteed by Oceanbulk Shipping LLC. Following
the completion of the Merger, Star Bulk Carriers Corp. replaced Oceanbulk Shipping as guarantor of the ABN AMRO $87.5 million Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT><FONT STYLE="font-size: 10pt">On
June 29, 2015, we signed a supplemental letter with ABN AMRO to amend certain covenants governing this facility until December
31, 2016. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2015, the
tranche relating to the vessel <I>Maiden Voyage</I> was fully repaid, following the sale of that vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13.</TD><TD>Deutsche Bank $85.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 20, 2014, Oceanbulk
Shipping entered into a loan agreement with Deutsche Bank AG Filiale Deutschlandgeschaft for the financing of an aggregate amount
of $85.0 million (the &#147;Deutsche Bank $85.0 million Facility&#148;), in order to partially finance the construction cost
of <FONT STYLE="background-color: white">the newbuilding vessels</FONT> <I>Magnum Opus</I>, <I>Peloreus </I>and<I> Leviathan</I>.
Each tranche matures five years after the drawdown date. The applicable tranches were drawn down concurrently with the deliveries
of the financed vessels, in May, July and September 2014, respectively. Each tranche is subject to 19 quarterly amortization payments
equal to 1/60th of the tranche amount, with the 20th payment equal to the remaining amount outstanding on the tranche. The Deutsche
Bank $85.0 million Facility is secured by first priority cross-collateralized ship mortgages on the financed vessels and general
and specific assignments and was originally guaranteed by Oceanbulk Shipping. On July 4, 2014, an amendment to the Deutsche Bank
$85.0 million Facility was executed in order to add ITF International Transport Finance Suisse AG as a lender. On November 4, 2014,
a supplemental letter was signed to replace Oceanbulk Shipping with Star Bulk Carriers Corp. as guarantor of this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
signed a supplemental letter with Deutsche Bank AG Filiale Deutschlandgeschaft to amend certain covenants governing this facility
until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2016, we fully
repaid the tranche relating to the vessel <I>Magnum Opus, </I>following the sale of the respective vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14.</TD><TD>HSBC $86.6 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 16, 2014, Oceanbulk
Shipping entered into a loan agreement with HSBC Bank plc. (the &#147;HSBC $86.6 million Facility&#148;) for the financing of
an aggregate amount of $86.6 million, to partially finance the acquisition cost of the second hand vessels <I>Kymopolia</I>, <I>Mercurial
Virgo</I>, <I>Pendulum</I>, <I>Amami</I> and <I>Madredeus</I>. The loan, which was drawn in June 2014, matures in May 2019 and
is repayable in 20 quarterly installments, commencing three months after the drawdown, of $1.6 million plus a balloon payment of
$55.5 million due together with the last installment. The HSBC $86.6 million Facility is secured by a first priority mortgage over
the financed vessels and general and specific assignments and was originally guaranteed by Oceanbulk Shipping. On September 11,
2014, a supplemental agreement to the HSBC Facility was executed in order to replace Oceanbulk Shipping with Star Bulk Carriers
Corp. as guarantor of the HSBC $86.6 million Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15.</TD><TD>HSBC $20.0 million Dioriga Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 14, 2014,
Dioriga Shipping Co. entered into a loan agreement with HSBC Bank plc (the &#147;HSBC $20.0 million Dioriga Facility&#148;) for
$20.0 million to partially finance the construction cost of the newbuilding vessel <I>Tsu Ebisu</I>, which was delivered in April
2014. The HSBC $20.0 million Dioriga Facility matures in March 2019 and is repayable in 20 equal, consecutive, quarterly installments
of $0.4 million each, commencing three months after the drawdown, plus a balloon payment of $13.0 million due together with the
last installment. The HSBC $20.0 million Dioriga Facility is secured by a first priority mortgage over the financed vessel and
general and specific assignments. On October 3, 2014, a supplemental agreement to the Dioriga $20.0 million Facility was executed
in order for Star Bulk Carriers Corp. to become the guarantor of the Dioriga $20.0 million Facility and to include covenants similar
to those of our other vessel financing facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 30, 2015, we
entered into two second supplemental agreements with HSBC Bank plc to amend certain covenants included in each of the HSBC $86.6
million Facility and the HSBC $20.0 million Dioriga Facility until December 31, 2016. In addition, we agreed to cross-collateralize
the HSBC $86.6 million Facility and the HSBC $20.0 million Dioriga Facility, an arrangement that ended in January 2016 when the
Dioriga $20.0 million Facility was fully repaid in connection with the sale of the vessel <I>Tsu Ebisu.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">16.</TD><TD>CEXIM $57.4 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 26, 2014, Oceanbulk
Shipping entered into a loan agreement with the Export-Import Bank of China (the &#147;CEXIM $57.4 million Facility&#148;) for
the financing of an aggregate amount of up to $57.4 million, which will be available in two tranches of $28.7 million each, to
partially finance the construction cost of the two new building vessels <I>Bruno Marks </I>(ex- HN 1312), which was delivered to
us in January 2016, and <I>Jenmark</I> (ex-HN 1313) with expected delivery in March 2016. Each tranche will mature ten years from
the delivery date of the last delivered financed vessel and will be repayable in 20 semi-annual installments of $1.1 million plus
a balloon payment of $5.7 million, with the first installment being due on the first January 21 or July 21 six months after the
delivery of each vessel. In December 2015, we entered into separate agreements with third parties to sell the newbuilding vessel
<I>Bruno Marks</I> and <I>Jenmark</I>, upon their delivery to us and, therefore, the CEXIM $57.4 million Facility was terminated
without being drawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">17.</TD><TD>NIBC $32.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 7, 2014,
we and NIBC Bank N.V. entered into an agreement with respect to a credit facility (the &#147;NIBC $32.0 million Facility&#148;)
for the financing of an aggregate amount of up to $32.0 million, which is available in two tranches of $16.0 million, to partially
finance the construction cost of two new building vessels, <I>Star Acquarius</I> (ex- HN 5040) and <I>Star Pisces</I> (ex-HN 5043).
We drew $15.2 million for each vessel in July and August 2015, respectively concurrently with the delivery of the relevant vessels
to us. Each tranche is repayable in consecutive quarterly installments of $0.3 million, commencing three months after the drawdown
of each tranche, plus a balloon payment of $9.6 million and $9.9 million, respectively, both due in November 2020. The NIBC $32.0
million 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
signed a supplemental letter with NIBC Bank N.V to amend certain financial covenants governing this facility until December 31,
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">18.</TD><TD>BNP $32.5 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 3, 2014,
Positive Shipping Company, one of our subsidiaries following the completion of the Pappas Transaction, and BNP Paribas entered
into an agreement with respect to a credit facility (the &#147;BNP $32.5 million Facility&#148;) for the financing of up to $32.5
million to partially finance the construction cost of its newbuilding vessel <I>Indomitable</I> (ex-HN 5016). An amount of $32.5
million was drawn in December 2014, in anticipation of the delivery of the <I>Indomitable</I> to us on January 8, 2015. The facility
is repayable in 20 equal, consecutive, quarterly principal payments of $0.5 million each, with the first becoming due and payable
three months from the drawdown date and a balloon installment of $21.7 million payable simultaneously with the last installment,
which is due in December 2019. The BNP $32.5 million 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 3, 2015, we
signed a supplemental letter with BNP Paribas to amend certain covenants governing this facility from June 30, 2015 until December
31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2015,
we entered into separate agreement with third party to sell the <I>Indomitable</I>. In connection with this sale, we
expect to repay the BNP $32.5 million Facility in March 2016, when we will deliver the vessel to its new owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">19.</TD><TD>Excel Vessel Bridge Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 19, 2014,
we, through Unity Holding LLC (&#147;Unity&#148;), a fully owned subsidiary of Star Bulk, entered into a $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 as Lenders, and Wilmington Trust, National Association, as Administrative Agent (the &#147;Excel Vessel Bridge
Facility&#148;). We used borrowings under the Excel Vessel Bridge Facility to fund portion of the cash consideration for the Excel
Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Excel Vessel Bridge
Facility was to mature in February 2016, with mandatory repayments of $6.0 million, each due in March, June and September 2015.
Unity, Star Bulk, and each individual vessel-owning subsidiary of Unity were guarantors under the Excel Vessel Bridge Facility.
As of December 31, 2014, $195.9 million had been drawn under the Excel Vessel Bridge Facility, of which $139.8 million was prepaid
from proceeds from the Citi Facility and the DNB $120.0 million Facility, with such prepayment being applied in direct order of
maturity according to the provisions of the Excel Vessel Bridge Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 29, 2015,
we repaid all of the amounts drawn under the Excel Vessel Bridge Facility and terminated the facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.</TD><TD>DVB $24.8 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 30, 2014,
we entered into a credit facility with DVB Bank SE, Frankfurt (the &#147;DVB $24.8 million Facility&#148;) to partially finance
the acquisition of 100% of the equity interests of Christine Shipco LLC, which is the owner of the vessel&nbsp;<I>Star Martha</I>&nbsp;(ex-<I>Christine</I>),
one of the Excel Vessels. On October 31, 2014, we drew $24.8 million to pay Excel the related cash consideration. The DVB $24.8
million Facility is repayable in 24 consecutive, quarterly principal payments of $0.9 million for each of the first four quarters
and of $0.5 million for each of the remaining 20 quarters, with the first becoming due and payable three months from the drawdown
date, and a balloon payment of $12.2 million payable simultaneously with the last quarterly installment, which is due in October
2020. The DVB $24.8 million Facility is secured by a first priority pledge of the membership interests of the Christine Shipco
LLC and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
signed a supplemental letter with DVB Bank SE, Frankfurt to amend certain covenants governing this facility until December 31,
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">21.</TD><TD>Excel Vessel CiT Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 9, 2014,
we entered into a credit facility with CiT Finance LLC (the &#147;Excel Vessel CiT Facility&#148;) for an amount up to $30.0
million to partially finance the acquisition of 11 of the older Excel Vessels. The Excel Vessel CiT Facility was secured on a first-priority
basis by these 11 vessels we have acquired, consisting of nine Panamax and two Handymax vessels (the &#147;Excel Collateral Vessels&#148;).
Pursuant to an intercreditor agreement executed among the lenders under the Excel Vessel Bridge Facility and Excel Vessel CiT Facility,
the Excel Collateral Vessels also secured the Excel Vessel Bridge Facility on a second-priority basis. On December 10, 2014 we
drew $30.0 million under the Excel Vessel CiT Facility. The borrowers under the Excel Vessel CiT Facility were the various vessel-owning
subsidiaries that own the Excel Collateral Vessels and Star Bulk Carriers Corp. was the guarantor. The Excel Vessel CiT Facility
would mature in December 2016 and was subject to quarterly amortization payments of $0.5 million, commencing on March 31, 2015,
with a balloon payment equal to the outstanding amount under the Excel Vessel CiT Facility payable simultaneously with the last
quarterly installment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 10, 2015, we
fully repaid all of the amounts drawn under the Excel Vessel CiT Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">22.</TD><TD>Sinosure Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 22, 2014,
we executed a binding term sheet with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc (the &#147;Sinosure Facility&#148;)
for the financing of an aggregate amount of up to $156.5 million to partially finance the construction cost of eight newbuilding
vessels, <I>Honey Badger </I>(ex-HN NE 164), <I>Wolverine (ex-</I>HN NE 165), <I>Star Antares</I> (ex-HN NE 196), <I>Star Lutas
</I>(ex-HN NE 197), <I>Kennadi</I> (ex-HN 1080), <I>Mackenzie</I> (ex-HN 1081), HN 1082 (tbn <I>Night Owl</I>) and HN 1083 (tbn
<I>Early Bird</I>)) (the &#147;Sinosure Financed Vessels&#148;). The financing under the Sinosure Facility is available in eight
separate tranches, one for each Sinosure Financed Vessel, and is credit insured (95%) by China Export &amp; Credit Insurance Corporation.
Each tranche, which is documented by a separate credit agreement, which were all signed on February 11, 2015, matures
12 years after each drawdown, which takes place at or around the time each vessel is delivered to us, and is repayable in 48 equal
and consecutive quarterly installments. The Sinosure Facility is secured by a first priority cross collateralized mortgage over
the Sinosure Financed Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp. The vessels <I>Honey
Badger</I> and <I>Wolverine</I> were delivered to us in February 2015. The vessel <I>Star Antares</I> was delivered to us in October
2015. The vessels <I>Star Lutas</I> and <I>Kennadi</I> were delivered to us in early January 2016 and the vessel <I>Mackenzie
</I>was delivered to us in March 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 2, 2015,
we signed a supplemental letter agreement with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc to amend certain
covenants governing the existing credit agreements from June 26, 2015 until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">23.</TD><TD>Citi Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 22, 2014,
we entered into a credit facility with Citibank, N.A., London Branch (the &#147;Citi Facility&#148;) to provide financing for
an amount of up to $100.0 million, in lieu of the Excel Vessel Bridge Facility, in connection with the acquisition of vessels <I>Star
Pauline (ex-Sandra)</I>, <I>Star Despoina</I> (ex-<I>Lowlands Beilun)</I>, <I>Star Angie</I>, <I>Star Sophia</I>, <I>Star Georgia</I>,
<I>Star Kamila</I> and <I>Star Nina,</I> which are seven of the Excel Vessels we have acquired (the &#147;Citi Financed Excel
Vessels&#148;). The first tranche of $51.5 million was drawn on December 23, 2014, and the second tranche of $42.6 million was
drawn on January 21, 2015. We used amounts drawn under the Citi Facility to repay portion of the Excel Vessel Bridge Facility in
respect of those Citi Financed Excel Vessels. The Citi Facility matures on December 30, 2019. The Citi Facility is repayable in
20 equal, consecutive, quarterly principal payments of $3.4 million, with the first installment due on March 30, 2015, and a balloon
installment of $26.3 million payable simultaneously with the last quarterly installment. The Citi Facility is secured by a first
priority mortgage over the Citi Financed Excel Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers
Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 30, 2015, we
signed a supplemental Agreement with Citibank, N.A., London Branch to amend certain covenants governing this agreement until December
31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">24.</TD><TD>Heron Vessels Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November, 2014,
we entered into a secured term loan agreement with CiT Finance LLC (the &#147;Heron Vessels Facility&#148;), in the amount of
$25.3 million, in order to partially finance the acquisition cost of the two Heron Vessels, <I>Star Gwyneth</I> and <I>Star Angelina</I>.
The drawdown of the financed amount incurred in December 2014, when we took delivery of the Heron Vessels. The Heron Vessels Facility
matures on June 30, 2019 and is repayable in 19 equal consecutive, quarterly principal payments of $0.7 million (with the first
becoming due and payable on December 31, 2014), and a balloon installment payable at maturity equal to the then outstanding amount
of the loan. The Heron Vessels Facility is secured by a first priority mortgage over the financed vessels and general and specific
assignments and is guaranteed by Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 1, 2015, we
signed a supplemental letter with CiT Finance LLC to amend certain financial covenants governing this agreement from June 30, 2015
until December 31, 2016 and to add the vessel <I>Star Aline</I> as collateral under this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">25.</TD><TD>DNB $120.0 million Facility</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 29, 2014,
we entered into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA, NIBC
Bank N.V and Skandinaviska Enskilda Banken AB as original lenders, mandated lead arrangers and hedge counterparties (the &#147;DNB
$120.0 million Facility&#148;), to provide financing for up to $120.0million, in lieu of the Excel Vessel Bridge Facility, in
connection with the acquisition of vessels <I>Star Nasia</I>, <I>Star Monisha</I>, <I>Star Eleonora, Star Danai, Star Renee, Star
Markella, Star Laura, Star Moira, Star Jennifer</I>, <I>Star Mariella, Star Helena </I>and<I> Star Maria</I>, which are 12 of the
Excel Vessels we have acquired (the &#147;DNB Financed Excel Vessels&#148;). We drew $88.3 million in December 2014, $9.5 million
in January 2015, $9.5 million in February 2015 and $7.8 million in April 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We used amounts drawn
under the DNB Facility to repay portion of the amounts drawn under the Excel Vessel Bridge Facility relating to the DNB Financed
Excel Vessels. The DNB Facility matures in December 2019 and is repayable in 20 equal, consecutive, quarterly principal payments
of $4.4 million, with the first installment due in March 2015, and a balloon installment of $29.2 million payable simultaneously
with the 20th installment. The DNB Facility is secured by a first priority mortgage over the DNB Financed Excel Vessels and general
and specific assignments and is guaranteed by Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 29, 2015, we
signed a supplemental letter with the lenders under this facility to amend certain covenants governing this agreement until December
31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of our bank loans
bear interest at LIBOR plus a margin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Credit Facility Covenants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our outstanding credit
facilities generally contain customary affirmative and negative covenants, on a subsidiary level, including limitations to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">incur additional indebtedness, including the issuance of guarantees;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">create liens on our assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">change the flag, class or management of our vessels or terminate or materially amend the management
agreement relating to each vessel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sell our vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">merge or consolidate with, or transfer all or substantially all our assets to, another person;
or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter into a new line of business.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the DNB&ndash;SEB&ndash;CEXIM
$227.5 million Facility, we are not permitted to pay dividends until December 2017, if our liquid funds are less than (i) $200.0
million in the aggregate or (ii) $2.0 million per fleet vessel. Under certain of our other loan agreements, we are restricted from
paying dividends until December 31, 2016. Additionally, we may not pay dividends or distributions if an event of default has occurred
and is continuing or would result from such dividend or distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, our credit
facilities contain financial covenants requiring us to maintain various financial ratios, including:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum percentage of aggregate vessel value to loans secured (security cover ratio or &#147;SCR&#148;);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a maximum ratio of total liabilities to market value adjusted total assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum EBITDA to interest coverage ratio;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum liquidity; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a minimum equity ratio.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the May 2015 Equity Offering, during the second quarter of 2015, we reached agreements with all our lenders to amend certain financial
covenants included in our credit facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2014 and 2015, we were required to maintain minimum liquidity, not legally restricted, of $35.4 million and $150.0 million, respectively.
In addition, as of December 31, 2014 and 2015, we were required to maintain minimum liquidity, legally restricted, of $14.0 million
and $14.0 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, as a result of market conditions, the market value of certain of our vessels was below the minimum SCR required under certain
loan agreements. Under the respective loan agreements, the required SCR ranges from 110% to 140%. Based on the appraisal received,
the calculated SCR ranged from 91% to 133%. A SCR shortfall does not automatically trigger the acceleration of the corresponding
loans or constitute a default under the relevant loan agreements. Under these loan agreements, we may have to prepay the amount
drawn under a loan agreement, pay a certain amount to cover the security shortfall or provide additional security to remedy the
security shortfall upon request by the relevant lenders. If we fail to take any such requested measures, such circumstances could
result in an event of default under our loan agreements. We have not received any notices from the relevant lenders that would
indicate their intention to exercise their rights under the SCR provisions of the relevant loan agreements and cause acceleration
of respective outstanding loan amounts. As of December 31, 2015, $14.3 million, which was the amount that could be made repayable under the SCR provisions by the lenders, was reclassified as
current portion of long term debt within current liabilities. Apart from this, as of December 31, 2014 and 2015, we were in compliance
with the applicable financial and other covenants contained in our debt agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2019 Notes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 6, 2014,
we issued $50.0 million aggregate principal amount of 8.00% Senior Notes due 2019 (the &#147;2019 Notes&#148;). The net proceeds
were $48.4 million. The 2019 Notes mature in November 2019 and are senior, unsecured obligations of Star Bulk Carriers Corp. The
2019 Notes are not guaranteed by any of our subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The 2019 Notes bear
interest at a rate of 8.00% per annum, payable quarterly in arrears on the 15th of February, May, August and November of each year,
commencing on February 15, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may redeem the 2019
Notes, in whole or in part, at any time on or after November 15, 2016 at a redemption price equal to 100% of the principal amount
to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Prior to November 15, 2016, we may redeem
the 2019 Notes, in whole or in part, at a price equal to 100% of their principal amount plus a make-whole premium and accrued interest
to the date of redemption. In addition, we may redeem the 2019 Notes in whole, but not in part, at any time, at a redemption price
equal to 100% of their principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date,
if certain events occur involving changes in taxation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The indenture governing
the 2019 Notes requires us to maintain a maximum ratio of net debt to consolidated total assets and a minimum consolidated tangible
net worth. The indenture governing the 2019 Notes also contains various negative covenants, including a limitation on asset sales
and a limitation on restricted payments. The indenture governing the 2019 Notes prevents us from paying dividends if the two above
financial ratios are not met. The indenture governing the 2019 Notes also contains other customary terms and covenants, including
that upon certain events of default occurring and continuing, either the Trustee or the holders of not less than 25% in aggregate
principal amount of the 2019 Notes then outstanding may declare the entire principal amount of all the 2019 Notes plus accrued
interest, if any, to be immediately due and payable. Upon certain change of control events, we are required to offer to repurchase
the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the
date of redemption. If we receive net cash proceeds from certain asset sales and do not apply them within a specified deadline,
we will be required to apply those proceeds to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount,
plus accrued and unpaid interest to, but not including, the date of redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, we were in compliance with the applicable financial and other covenants contained in the 2019 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Dividend Payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, as mentioned
above, we are restricted from paying dividends under certain of our facilities until December 31, 2016. Additionally, we are not
permitted to pay dividends until December 2017, if our liquid funds are not greater than (i) $200.0 million or (ii) $2.0 million
per fleet vessel. Furthermore, we may not pay dividends or distributions if an event of default has occurred and is continuing
or would result from such dividend or distribution. In addition, we did not pay any dividends for the year ended 2015. Please see
the section of this annual report entitled &#147;Senior Secured Credit Facilities&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Research and Development, Patents and Licenses</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">Trend Information</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please see Item 5.A,
&#147;Operating Results.&#148;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">E.</FONT></TD><TD STYLE="text-align: justify">Off-balance Sheet Arrangements</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this
annual report, we do not have any off-balance sheet arrangements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">F.</FONT></TD><TD STYLE="text-align: justify">Tabular Disclosure of Contractual Obligations</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth our contractual obligations and their maturity dates as of December 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic">In thousands of Dollars</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="19" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Payments due by period</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt"><B>Obligations</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Less<BR>than 1 year<BR>-2016</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1-3 years<BR>(2017 -2018)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3-5 years<BR>(2019-2020)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">More<BR>than 5 years<BR>(After January<BR> 1, 2021 )</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt; width: 35%">Principal Loan Payments (1)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">861,738</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">112,873</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">272,712</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">330,193</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">145,960</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">8.00% 2019 Notes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Interest payments (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">124,617</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,388</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,064</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,052</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,113</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Shipbuilding contracts (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">419,123</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">346,927</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,196</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Bareboat capital leases - upfront hire &amp; handling fees (4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,469</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Bareboat commitments charter hire - Newbuilding vessels (4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">282,474</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,126</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,339</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,065</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">193,944</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Bareboat commitments charter hire - Operating vessels (5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101,559</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,640</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,280</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,807</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,832</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Future, minimum, non-cancellable lease payment under vessel operating leases (6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,949</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,605</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,344</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt">Office rent</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,687</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">256</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">511</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">499</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">421</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt; text-align: left; text-indent: 10pt"><B>Total</B></TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,854,624</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">521,284</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">463,454</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">472,616</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">397,270</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Principal loan payments do not reflect the shortfall in the SCR, which is further analyzed in Note
8 to our consolidated financial statements included in this report.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Amounts shown reflect interest payments we expect to make with respect to our long-term debt obligations.
The interest payments reflect an assumed LIBOR based applicable rate of 0.6127% (the three month LIBOR as of December 31, 2015)
plus the relevant margin of the applicable credit facility.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">The amounts represent our remaining obligations as of December 31, 2015 with respect to the pipeline
of our newbuilding program, taking into effect the negotiations with the shipyards and the agreed purchase price reductions and
deferral of deliveries (please see &#147;Item 4. Information on the Company- A. History and Development of the Company - Negotiations
with the shipyards&#148;). Our remaining obligations under the bareboat lease agreements are classified as capital leases, and
are discussed under footnote (4) below.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">We have entered into bareboat charters for five of our newbuilding vessels with the option to purchase
the vessels at any time and a purchase obligation upon the completion of the charter period, which range from eight to ten years.
The amounts represent our commitments under the bareboat lease arrangements representing the upfront hire fee and the charter hire.
The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month LIBOR
of <FONT STYLE="font-family: Times New Roman, Times, Serif">0.846</FONT>%, as of December 31, 2015.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">We have entered into bareboat charters for four of our operating vessels with the option to purchase
the vessels at any time and a purchase obligation upon the completion of the charter period, which range from eight to ten years.
The amounts represent our commitments under the bareboat lease arrangements representing the upfront hire fee and the fixed charter
hire.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">The amounts represent our commitments under the operating lease arrangement for <I>Astakos</I>
(ex-<I>Maiden Voyage</I>) disclosed in Note 5 of our consolidated financial statements included in this report.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Fleet &ndash; Illustrative Comparison
of Possible Excess of Carrying Value Over Estimated Charter-Free Market Value of Certain Vessels</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In <I>Item 5.A, &#147;Critical
Accounting Policies &ndash; Impairment of long-lived assets&#148;,</I> we discuss our policy for impairing the carrying values
of our vessels. During the past few years, the market values of vessels have experienced particular volatility, with substantial
declines in many vessel classes. As a result, the charter-free market value, or basic market value, of certain of our vessels may
have declined below those vessels&#146; carrying value. We would, however, not impair those vessels&#146; carrying value under
our accounting impairment policy, due to our belief that future undiscounted cash flows expected to be earned by such vessels over
their operating lives would exceed such vessels&#146; carrying amounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The table set forth
below indicates: (i) the carrying value of each of our vessels as of December 31, 2015, and (ii) which of our vessels we believe
have a basic market value below their carrying value. The aggregate difference between the carrying value of our vessels and their
market value of $639.5 million, represents the amount by which we believe we would have to reduce our net income if we sold these
61 vessels in the current environment, on industry standard terms, in cash transactions, and to a willing buyer where we are not
under any compulsion to sell, and where the buyer is not under any compulsion to buy. For purposes of this calculation, we have
assumed that the vessels would be sold at a price that reflects our estimate of their current basic market values. However, we
are not holding our vessels for sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our estimates of basic
market value assume that our vessels are all in good and seaworthy condition without need for repair and if inspected would be
certified in class without notations of any kind. Our estimates are based on information available from various industry sources,
including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">reports by industry analysts and data providers that focus on our industry and related dynamics
affecting vessel values;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">news and industry reports of similar vessel sales;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">news and industry reports of sales of vessels that are not similar to our vessels, where we have
made certain adjustments in an attempt to derive information that can be used as part of our estimates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">approximate market values for our vessels or similar vessels that we have received from shipbrokers,
whether solicited or unsolicited, or that shipbrokers have generally disseminated;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">offers that we may have received from potential purchasers of our vessels; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">vessel sale prices and values of which we are aware through both formal and informal communications
with ship owners, shipbrokers, industry analysts and various other shipping industry participants and observers.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As we obtain information
from various industry and other sources, our estimates of basic market value are inherently uncertain. In addition, vessel values
are highly volatile; as such, our estimates may not be indicative of the current or future basic market value of our vessels or
prices that we could achieve if we were to sell them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="text-align: right; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt; vertical-align: bottom; border-bottom: Black 1pt solid">Vessel Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><BR><BR><B>Size (dwt.)</B></P></TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><BR><B>Year Acquired</B></P></TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>Carrying Value as of December 31, 2015 (in millions of U.S. dollar)</B></P></TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-left: 5.4pt">Goliath&#9;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center">209,537</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center">2015</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center">61.8</TD><TD STYLE="width: 1%; text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Gargantua&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">209,537</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">60.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Maharaj&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">209,472</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Deep Blue&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">182,608</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">36.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Leviathan&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">182,511</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">36.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Peloreus&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">182,496</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">36.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Indomitable&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">182,476</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">36.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Obelix&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">181,433</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">23.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Pauline&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">180,274</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">28.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Martha&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">180,274</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">42.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Pantagruel&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">180,181</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">32.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">12.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Borealis&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">179,678</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2011</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">46.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Polaris&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">179,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2011</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">47.3</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">14.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Angie&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">177,931</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">35.5</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">15.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Big Fish&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">177,643</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">32.2</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">16.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Kymopolia&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">176,990</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">36.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">17.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Big Bang&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">174,109</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">37.5</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">18.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Aurora&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">171,199</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">30.0</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">19.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Despoina&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">170,162</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12.6</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Eleonora&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">164,218</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">21.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Monisha&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">164,218</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">22.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Amami&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">98,681</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">26.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Madredeus&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">98,681</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">26.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">24.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Sirius&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">98,681</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">27.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">25.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Vega&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">98,681</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">27.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Angelina&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,981</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">23.6</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">27.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Gwyneth&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,790</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">23.6</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">28.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Kamila&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,769</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21.2</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">29.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Pendulum&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,619</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">20.4</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">30.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Maria&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17.4</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">31.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Markella&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,594</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">32.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Danai&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,574</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">33.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Georgia&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">34.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Sophia&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,269</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19.4</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"></TD></TR></TABLE>

<!-- Field: Page; Sequence: 89; Value: 2 -->
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right; width: 5%"><FONT STYLE="font-size: 10pt">35.</FONT></TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt; width: 40%">Star Mariella&#9;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%">82,266</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%">2014</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%">20.5</TD><TD STYLE="text-align: left; width: 1%">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">36.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Moira&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,257</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">37.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Nina&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,224</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14.3</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">38.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Renee&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,221</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">39.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Nasia&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">40.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Laura&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,209</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">15.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">41.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Jennifer&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,209</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12.6</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">42.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Helena&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">82,187</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14.6</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">43.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Mercurial Virgo&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">81,545</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">24.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">44.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Magnum Opus&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">81,022</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">45.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Tsu Ebisu&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">81,001</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">46.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Iris&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">76,466</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19.3</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">47.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Aline&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">76,429</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">18.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">48.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Emily&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">76,417</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">49.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Vanessa&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">72,493</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">8.0</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Idee Fixe&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">63,458</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">30.2</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">51.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Roberta&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">63,426</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">30.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">52.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Laura&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">63,399</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">30.2</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">53.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Kaley&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">63,283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">30.5</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">54.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Challenger&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61,462</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">26.8</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">55.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Fighter&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61,455</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">26.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">56.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Honey Badger&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">31.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">57.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">Wolverine&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61,292</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">31.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">58.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Antares&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61,258</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">29.1</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">59.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Aquarius&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">60,916</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">22.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">60.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Pisces&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">60,916</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2015</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">22.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">61.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Strange Attractor&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">55,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">20.3</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">62.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Omicron&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">53,489</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">63.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Gamma&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">53,098</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">11.5</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">64.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Zeta&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">52,994</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">65.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Delta&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">52,434</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">9.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">66.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Theta&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">52,425</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12.5</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">67.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Epsilon&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">52,402</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">10.7</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">68.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Cosmo&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">52,246</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12.0</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">69.</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">Star Kappa&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">52,055</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">10.9</TD><TD STYLE="text-align: left">*</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">70.</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Star Michele&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">45,588</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">2014</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">8.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">*</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; padding-left: 5.4pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: center">1,757.0</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">* <FONT STYLE="font-size: 10pt">Indicates
dry bulk carrier vessels for which we believe, as of December 31, 2015, the basic charter-free market value is lower than the vessel&#146;s
carrying value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We refer you to the
risk factor entitled &#147;The market values of our vessels have declined and may further decline, which could limit the amount
of funds that we can borrow, cause us to breach certain financial covenants in our credit facilities (including ship financing
facilities) or result in an impairment charge, and we may incur a loss if we sell vessels following a decline in their market
value&#148; and the discussion herein under the headings &#147;Critical Accounting Policies &ndash; Impairment of long-lived assets&#148;
and &#147;Results of Our Operations &ndash; Year ended December 31, 2015 compared to the year ended December 31, 2014 &ndash;
 Impairment Loss&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">G.</FONT></TD><TD STYLE="text-align: justify">Safe Harbor</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See section &#147;forward
looking statements&#148; at the beginning of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 6.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Directors, Senior Management and Employees</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Directors, Senior Management and Employees</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Set forth below are
the names, ages and positions of our directors, executive officers and key employees. The board of directors is elected annually
on a staggered basis, and each director elected holds office until his successor shall have been duly elected and qualified, except
in the event of his death, resignation, removal or the earlier termination of his term of office. Officers are elected from time
to time by vote of our board of directors and hold office until a successor is elected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In July 2013, the board
of directors increased the number of directors constituting the board of directors to six and appointed Mr. Roger Schmitz as a
Class B director. At the 2013 annual general meeting in September 2013, Petros Pappas, previously a Class A director, was elected
as a Class C director and Mr. Spyros Capralos was re-elected as a Class C director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In July 2014 and in
connection with the 2014 Transactions, the board of directors increased the number of directors constituting the board of directors
to nine and, following the resignation of Ms. Milena-Maria Pappas, appointed Mr. Rajath Shourie as a Class A director,
Ms. Emily Stephens as a Class B director, Ms. Ren&eacute;e Kemp as a Class C director and Mr. Stelios Zavvos
as a Class A director pursuant to the terms and subject to the conditions of the 2014 Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The appointments of
Mr. Shourie as a Class A director, Ms. Stephens as a Class B director and Ms. Kemp as a Class C director
took place under the Oaktree Shareholders Agreement, which we entered into at the closing of the July 2014 Transactions (described
in &#147;Item 4. Information on the Company&mdash;A. History and Development of the Company&#148;). Under the Oaktree Shareholders
Agreement, Oaktree currently has the right to nominate four of our nine directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2015,
Mr. Shourie and Ms.  Stephens were replaced by Mr. Mahesh Balakrishnan and Ms. Jennifer Box, respectively.
On March 14, 2016, Ms. Kemp stepped down from our board of directors. Following the resignation of Ms. Kemp, we expect
that our board of directors will decrease the number of directors constituting the board of directors to eight, and our board
of directors will only have two Class C directors. The three directors currently designated by Oaktree are Messrs.
Pappas and Balakrishnan and Ms. Box, while Oaktree retains the right to name an additional director under the Oaktree
Shareholders Agreement.</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At the 2015 annual
general meeting in October 2015, Messrs. Koert Erhard and Roger Schmitz, and Ms. Jennifer Box were re-elected as Class B directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our directors and executive
officers are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
<TR>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Name</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Age</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Position</TD></TR>
<TR>
    <TD STYLE="width: 30%; text-align: left">Petros Pappas</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: center">63</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 60%">Chief Executive Officer and Class C Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Spyros Capralos</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Non-Executive Chairman and Class C Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Hamish Norton</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">57</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">President</TD></TR>
<TR>
    <TD STYLE="text-align: left">Simos Spyrou</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">41</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Co-Chief Financial Officer</TD></TR>
<TR>
    <TD STYLE="text-align: left">Christos Begleris</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">34</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Co-Chief Financial Officer</TD></TR>
<TR>
    <TD STYLE="text-align: left">Nicos Rescos</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">44</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Operating Officer</TD></TR>
<TR>
    <TD STYLE="text-align: left">Zenon Kleopas</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">61</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">EVP&mdash;Technical &amp; Operations</TD></TR>
<TR>
    <TD STYLE="text-align: left">Tom S&oslash;fteland</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">55</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Class A Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Koert Erhardt</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">60</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Class B Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Roger Schmitz</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">34</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Class B Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Mahesh Balakrishnan</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">33</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Class A Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Jennifer Box</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">34</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Class B Director</TD></TR>
<TR>
    <TD STYLE="text-align: left">Stelios Zavvos</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">62</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Class A Director</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Petros Pappas, Chief Executive Officer
and Director</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Petros Pappas serves
as our CEO and as a director on our board of directors. Mr. Pappas served from our inception up to July 2014 as our non-executive
Chairman of the board of directors. He served as a member of Star Maritime&#146;s board of directors since its inception. Throughout
his career as a principal and manager in the shipping industry, Mr. Pappas has been involved in over 275 vessel acquisitions and
disposals. In 1989, he founded Oceanbulk Maritime S.A., a dry cargo shipping company that has operated managed vessels aggregating
as much as 1.6 million deadweight tons of cargo capacity. He also founded the Oceanbulk Group of affiliated companies, which are
involved in the service sectors of the shipping industry. Mr. Pappas has been a Director of the UK Defense Club, a leading insurance
provider of legal defense services in the shipping industry worldwide, since January 2002, and is a member of the Union of Greek
Ship owners (UGS). Mr. Pappas received his B.A. in Economics and his MBA from The University of Michigan, Ann Arbor. Mr. Pappas
was recently awarded the 2014 Lloyd&#146;s List Greek Awards &#147;Shipping Personality of the Year&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Spyros Capralos, Non-Executive Chairman
and Director</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Spyros Capralos serves
as our Non-Executive Chairman and director. Mr. Capralos served from February 7, 2011 up to July 2014 as our Chief Executive Officer,
President and director. From October 2004 to October 2010, Mr. Capralos served as Chairman of the Athens Exchange and Chief Executive
Officer of the Hellenic Exchanges Group and was the President of the Federation of European Securities Exchanges. He was formerly
Vice Chairman of the National Bank of Greece, Vice Chairman of Bulgarian Post Bank, Managing Director of the Bank of Athens and
has ten years of banking experience with Bankers Trust Company (now Deutsche Bank) in Paris, New York, Athens, Milan and London.
He is the current President of the Hellenic Olympic Committee and served as Secretary General of the Athens 2004 Olympics Games
and Executive Director and Deputy Chief Operating Officer of the Organizing Committee for the Athens 2004 Olympic Games. He studied
Economics at the University of Athens and earned his Master Degree in Business Administration from INSEAD University in France.
Effective as of January 1, 2015, Mr. Capralos also serves as Chief Executive Officer of Oceanbulk Container Carriers LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Hamish Norton, <I>President</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Hamish Norton serves
as our President. He was previously the Head of Corporate Development and Chief Financial Officer of Oceanbulk Maritime S.A. Prior
to joining Oceanbulk Maritime, from 2007 through 2012, Mr. Norton was a Managing Director and the Global Head of the Maritime Group
at Jefferies LLC, and from 2003 to 2007, he was head of the shipping practice at Bear, Stearns. Mr. Norton is notable for creating
Nordic American Tankers Ltd. and Knightsbridge Tankers Ltd., the first two high dividend yield shipping companies, and has advised
on numerous capital markets and mergers and acquisitions transactions by shipping companies. From 1984-1999 he worked at Lazard
Fr&egrave;res &amp; Co.; from 1995 onward as general partner and head of shipping. Mr. Norton received an A.B. in Physics from
Harvard and a Ph.D. in Physics from University of Chicago.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Simos Spyrou, <I>Co-Chief Financial
Officer</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Simos Spyrou serves
as our Co-Chief Financial Officer. Mr. Spyrou joined us as Deputy Chief Financial Officer in 2011, and was appointed Chief Financial
Officer in September 2011. From 1997 to 2011, Mr. Spyrou worked at the Hellenic Exchanges (HELEX) Group, the public company which
operates the Greek equities and derivatives exchange, the clearing house and the central securities depository. From 2005 to 2011,
Mr. Spyrou held the position of Director of Strategic Planning, Communication and Investor Relations at the Hellenic Exchanges
Group and he also served as a member of the Strategic Planning Committee of its board of directors. From 1997 to 2002, Mr. Spyrou
was responsible for financial analysis at the research and technology arm of the Hellenic Exchanges Group. Mr. Spyrou attended
the University of Oxford, receiving a degree in Mechanical Engineering and an MSc in Engineering, Economics &amp; Management, specializing
in finance. Following the completion of his studies at Oxford, he obtained a post graduate degree in Banking and Finance, from
Athens University of Economics &amp; Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Christos Begleris, <I>Co-Chief Financial
Officer</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Christos Begleris serves
as our Co-Chief Financial Officer. He served as Deputy Chief Financial Officer of Oceanbulk Maritime since March 2013. He has been
involved in the shipping industry since 2008, as deputy to the Chief Financial Officer of Thenamaris (Ships Management) Inc. Mr.
Begleris has considerable banking and capital markets experience, having executed more than $9.0 billion of acquisitions and financings
in the corporate finance and fixed income groups of Lehman Brothers and the principal investments group of London &amp; Regional
Properties. Mr. Begleris received an M.Eng. in Mechanical Engineering from Imperial College, London, and an MBA from Harvard Business
School.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nicos Rescos, <I>Chief Operating Officer</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nicos Rescos serves
as our Chief Operating Officer. He was the Chief Operating Officer of Oceanbulk Maritime S.A. since April 2010. Mr. Rescos has
been involved in the shipping industry since 1993 and has strong expertise in the dry bulk, container and product tanker markets.
From 2007 to 2009, Mr. Rescos worked with a family fund in Greece investing in dry bulk vessels and product tankers. From 2000
to 2007, Mr. Rescos served as the Commercial Manager of Goldenport Holdings Inc. where he was responsible for the acquisition of
35 dry bulk and container vessels and initiated the company&#146;s entry in the product tankers arena through an innovative joint
venture with a major commodity trading company. He received a BSc in Management Sciences from The University of Manchester Institute
of Science and Technology (UMIST) and an MSc in Shipping Trade and Finance from the City University Business School.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Zenon Kleopas, <I>Executive Vice President-Technical
Operations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Zenon Kleopas serves
as our Executive Vice President-Technical Operations. Mr. Kleopas joined us in July 2011 as Chief Operating Officer and has over
30 years of experience in the shipping industry. He was actively involved in the acquisition of our initial fleet in 2007 and 2008.
He has extensive experience in ship operations and supervising ship management through his continuous employment in Shipping Companies
in the U.K. and Greece since 1980. Mr. Kleopas has worked for various shipping companies, including Victoria Steamship Co Ltd.
(London), Marship Corporation (renamed Marship Services Inc), Astron Maritime SA, Combine Marine Inc. and Oceanbulk Maritime SA.
Before joining us, Mr. Kleopas was the general manager of Combine Marine Inc. and the managing director of Oceanbulk Maritime SA.
Mr. Kleopas received a B.Sc. degree in 1978 and a M.Sc. degree in 1980 from Glasgow University, both in Naval Architecture &amp;
Ocean Engineering. He is a member of the Technical Chamber of Greece, the Royal Institution of Naval Architects (UK), the Marine
Technical Managers&#146; Association of Greece and the Hellenic Technical Committee of classification society RINA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tom S&oslash;fteland, <I>Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Tom S&oslash;fteland
serves and has served since our inception as a member of our board of directors and as chairman of the audit committee. He served
as a member of Star Maritime&#146;s board of directors since its inception. During 1982 &ndash; 1990 he served in different positions
within Odfjell Chemical Tankers, including operations, chartering and project activities. In August 1990 he joined the shipping
department of IS Bank ASA and in 1992 he became the general manager of the shipping, oil &amp; offshore department. In 1994 he
was promoted to Deputy CEO of the bank. During the fourth quarter of 1996, Mr. S&oslash;fteland founded Capital Partners A.S. of
Bergen, Norway, a financial services firm which specialized in shipping, oil &amp; off-shore finance, investment bank and asset
management services. He held the position as CEO until he resigned in June of 2007. As from second half of 2007 and until today,
Mr. S&oslash;fteland runs his own investment company, styled Spinnaker AS, based in Norway. He has also joined several private
and public companies both shipping and non-shipping, based in London, New York, Bergen, Athens and Singapore, as an investor, chairman
or director such as EGD Holding AS, SeaSeaShipping Ltd, Tailwind Group and Stream Tankers AS. Mr. S&oslash;fteland received his
B.Sc. in Economics from the Norwegian School of Business and Administration (NHH).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Koert Erhardt, <I>Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Koert Erhardt serves
and has served since our inception as a member of our board of directors. He is currently the Managing Director of Augustea Bunge
Maritime Ltd. of Malta. From September 2004 to December 2004, he served as the Chief Executive Officer and a member of the board
of CC Maritime S.A.M., an affiliate of the Coeclerici Group, an international conglomerate whose businesses include shipping and
transoceanic transportation of dry bulk materials. From 1998 to September 2004, he served as General Manager of Coeclerici Armatori
S.p.A. and Coeclerici Logistics S.p.A., affiliates of the Coeclerici Group, where he created a shipping pool that commercially
managed over 130 vessels with a carrying volume of 72 million tons and developed the use of the Freight Forward Agreement trading,
which acts as a financial hedging mechanism for the pool. From 1994 to 1998, he served as the General Manager of Bulk Italia, a
prominent shipping company which at the time owned and operated over 40 vessels. From 1990 to 1994, Mr. Erhardt served in various
positions with Bulk Italia. From 1988 to 1990, he was the Managing Director and Chief Operating Officer of Nedlloyd Drybulk, the
dry bulk arm of the Nedlloyd Group, an international conglomerate whose interests include container ship liner services, tankers,
oil drilling rigs and ship brokering. Mr. Erhardt received his Diploma in Maritime Economics and Logistics from Hogere Havenen
Vervoersschool (now Erasmus University), Rotterdam, and successfully completed the International Executive Program at INSEAD, Fontainebleau,
France. Mr. Erhardt has also studied at the London School of Foreign Trade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Roger Schmitz, <I>Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Roger Schmitz serves
and has served since July 25, 2013 as a member of our board of directors. Mr. Schmitz is a Senior Investment Professional for Monarch
Alternative Capital LP, where he is responsible for analyzing investments and potential investments in a wide variety of corporate
and sovereign situations, both domestically and internationally. Prior to joining Monarch in 2006, Mr. Schmitz was an Analyst in
the Financial Sponsors Group at Credit Suisse, where he focused on leverage finance. Mr. Schmitz received an A.B., cum laude, in
economics from Bowdoin College.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Mahesh Balakrishnan, <I>Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mahesh Balakrishnan
serves as a member of our board of directors. Ms. Balakrishnan is a Senior Vice President in Oaktree&#146;s Opportunities Funds.
He joined Oaktree in 2007 and has been focused on investing in the Chemicals, Energy, Financial Institutions, Real Estate and Shipping
sectors. Mr. Balakrishnan has worked with a number of Oaktree&#146;s portfolio companies and currently serves on the boards of
STORE Capital Corp. (NYSE:STOR) and Momentive Performance Materials. He has been active on a number of creditors&#146; committees
during restructuring of investments, including Eagle Bulk Shipping, Excel, Lehman Brothers and LyondellBasell. Prior to Oaktree,
Mr. Balakrishnan spent two years in the Financial Sponsors &amp; Leveraged Finance group at UBS Investment Bank. Mr. Balakrishnan
graduated cum laude with a B.A. degree in Economics (Honors) from Yale University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Jennifer Box, <I>Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Jennifer Box serves
as a member of our board of directors. Ms. Box is a Senior Vice President in Oaktree&#146;s Opportunities Funds. Since she joined
Oaktree in 2009, Ms. Box has made investments in the Shipping, Power, Energy, Media and Technology sectors. Prior to Oaktree, Ms.
Box spent three and a half years as an Investment Associate at The Blackstone Group in the Distressed Debt Fund. Prior to Blackstone,
she was an Associate Consultant at The Boston Consulting Group. Ms. Box graduated summa cum laude with a B.S. degree in Economics
and a minor in Mathematics from Duke University, where she was elected to Phi Beta Kappa. She is a CFA charterholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Stelios Zavvos, <I>Director</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stelios Zavvos serves
as a member of our board of directors. Mr. Zavvos is the Founder and CEO of Zeus Private Equity Group, which engages in the investment
and development of large scale projects throughout Southeastern Europe, Turkey and the United States. Mr. Zavvos was also Founder
and CEO of Continental American Capital, an investment group which focused on real estate investment and financing in the United
States. He is the Founder and President of the Harvard Business School Club of Greece, Chairman of Solidarity Net Foundation, a
Member of the European Council on Foreign Relations, as well as a Member of International Crisis Group&#146;s International Advisory
Council. He holds an MBA from Harvard Business School and a MSc in Civil Engineering from Polytechnic University of Athens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Compensation of Directors and Senior Management</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended
December 31, 2015, aggregate compensation to our senior management was $1,853,223. Non-employee directors of Star Bulk receive
an annual cash retainer of $15,000. The chairman of the audit committee receives a fee of $15,000 per year and each of the audit
committee members receives as fee of $7,500. Each chairman of our other standing committees receives an additional $5,000 per year.
In addition, each director is reimbursed for out-of-pocket expenses in connection with attending meetings of the board of directors
or committees. We do not have a retirement plan for our officers or directors. The aggregate compensation of the board of directors
for the year ended December 31, 2015 was $160,000.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Equity Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 21, 2013,
we adopted an equity incentive plan (&#147;the 2013 Equity Incentive Plan&#148;), under which officers, key employees, directors
and consultants of the Company and its subsidiaries will be eligible to receive options to acquire shares of common stock, stock
appreciation rights, restricted stock and other stock-based or stock-denominated awards. We reserved a total of 240,000 shares
of common stock for issuance under the plan, subject to adjustment for changes in capitalization as provided in the plan. The purpose
of the 2013 Equity Incentive Plan is to encourage ownership of shares by, and to assist us in attracting, retaining and providing
incentives to, our officers, key employees, directors and consultants, whose contributions to us are or may be important to our
success and to align the interests of such persons with our shareholders. The various types of incentive awards that may be issued
under the 2013 Equity Incentive Plan enable us to respond to changes in compensation practices, tax laws, accounting regulations
and the size and diversity of our business. The plan is administered by our compensation committee, or such other committee of
our board of directors as may be designated by the board to administer the plan. The plan permits issuance of restricted shares,
grants of options to purchase common stock, stock appreciation rights, restricted stock, restricted stock units and unrestricted
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 20, 2014,
and April 13, 2015 our board of directors approved the 2014 Equity Incentive Plan (the &#147;2014 Equity Incentive Plan&#148;)
and the 2015 Equity Incentive Plan (the &#147;2015 Equity Incentive Plan&#148;), respectively, under which officers, key employees,
directors and consultants of the Company and its subsidiaries will be eligible to receive options to acquire shares of common stock,
stock appreciation rights, restricted stock and other stock-based or stock-denominated awards. We reserved a total of 430,000 shares
of common stock and 1,400,000 shares of common stock for issuance under the 2014 Equity Incentive Plan and the 2015 Equity Incentive
Plan, respectively, subject to adjustment for changes in capitalization as provided in the plans. All of the material provisions
of the 2014 Equity Incentive Plan and 2015 Equity Incentive Plan are substantially similar to the provisions contained in our prior
equity incentive plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, on April
13, 2015, our board of directors granted share purchase options for 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 us at the time the options are exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We refer herein to
the 2013 Equity Incentive Plan, 2014 Equity Incentive Plan and 2015 Equity Incentive Plan, collectively as the &#147;Equity Incentive
Plan&#148;. Under the terms of the Equity Incentive Plans, stock options and stock appreciation rights granted under the Equity
Incentive Plans will have an exercise price per common share equal to the fair market value of a common share on the date of grant,
unless otherwise determined by the administrator of the Equity Incentive Plans, but in no event will the exercise price be less
than the fair market value of a common share on the date of grant. Options and stock appreciation rights are exercisable at times
and under conditions as determined by the administrator of the Equity Incentive Plans, but in no event will they be exercisable
later than ten years from the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The administrator of
the Equity Incentive Plans may grant common shares of restricted stock and awards of restricted stock units subject to vesting
and forfeiture provisions and other terms and conditions as determined by the administrator of the Equity Incentive Plans. Upon
the vesting of a restricted stock unit, the award recipient will be paid an amount equal to the number of restricted stock units
that then vest multiplied by the fair market value of a common share on the date of vesting, which payment may be paid in the form
of cash or common shares or a combination of both, as determined by the administrator of the Equity Incentive Plans. The administrator
of the Equity Incentive Plans may grant dividend equivalents with respect to grants of restricted stock units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Adjustments may be
made to outstanding awards in the event of a corporate transaction or change in capitalization or other extraordinary event. In
the event of a &#147;change in control&#148; (as defined in the Equity Incentive Plans), unless otherwise provided by the administrator
of the Equity Incentive Plans in an award agreement, awards then outstanding shall become fully vested and exercisable in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The board of directors
may amend or terminate the Equity Incentive Plans and may amend outstanding awards, provided that no such amendment or termination
may be made that would materially impair any rights, or materially increase any obligations, of a grantee under an outstanding
award. Shareholders&#146; approval of Equity Incentive Plans amendments may be required in certain definitive, pre-determined
circumstances if required by applicable rules of a national securities exchange or the Commission. Unless terminated earlier by
the board of directors, the Equity Incentive Plans will expire ten years from the date on which the Equity Incentive Plans was
adopted by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2007, 2010 and 2011
we adopted the 2007 Equity Incentive Plan, the 2010 Equity Incentive Plan and the 2011 Equity Incentive Plan, respectively, and
reserved for issuance 133,333 common shares under each plan. The terms and conditions of the 2007, 2010 and 2011 Equity Incentive
Plans are substantially similar to those of the 2013, 2014 and 2015 Equity Incentive Plans. All of the common shares that were
reserved for issuance under the 2007, the 2010, 2011 and 2013 Equity Incentive Plans were issued and vested in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the years 2013,
2014 and 2015 and as of February 29, 2016, pursuant to the Equity Incentive Plans, we have granted the following securities:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On March 21, 2013, 239,333 restricted common shares were granted to our directors, officers and
employees. The respective shares were issued on September 11, 2013 and vested on March 21, 2014.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On March 21, 2013, 12,000 restricted common shares were granted to our former director Mr. Espig
and vested immediately. The respective shares issued on June 27, 2013.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On May 3, 2013, 28,000 restricted common shares were granted to Mr. Spyros Capralos, our former
Chief Executive Officer and current Non-Executive Chairman, pursuant to the terms of renewal consultancy agreement with an entity
owned and controlled by him. The first installment of 9,333 shares was issued on May 27, 2014, and vested on May 3, 2014. The remaining
two installments of 9,333 and 9,334, respectively, were cancelled and will not be issued since his consultancy agreement was terminated
following the 2014 Transactions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On February 20, 2014, 394,167 restricted common shares were granted to certain of our directors,
officers and employees. The respective shares were issued on May 27, 2014 and vested in March 2015.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On February 20, 2014, 8,000 restricted common shares were granted to two of our directors, Mr.
Softeland and Mr. Erhardt. The respective shares were issued on May 27, 2014 and vested on the same date that they were granted.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On July 11, 2014, 15,000 restricted common shares were granted to two of our directors, Mr. Softeland
and Mr. Schmitz and vested immediately. We plan to issue the respective shares in 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On August 4, 2014, 168,842 restricted common shares were issued to our former Chief Executive Officer
and current Non-Executive Chairman, Spyros Capralos, in connection with a termination agreement.On April 13, 2015, 676,150 restricted
common shares were granted to certain of our directors, officers and employees. The respective shares have not yet been issued,
as of the date of this report and vest in April 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On April 13, 2015, 521,250 stock options were granted to certain of our directors and officers.
The respective shares have not yet been issued, as of the date of this report, and vest in April 2020.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this
annual report, 714,443 common shares are available under the 2015 Equity Incentive Plan..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Board Practices</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors
is divided into three classes with only one class of directors being elected in each year and following the initial term for each
such class, each class will serve a three-year term. The initial term of our board of directors is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term of the Class A directors expires in 2017;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term of Class B directors expires in 2018; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The term of Class C director expires in 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Employment and Consultancy Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Management
entered into an employment agreement with Mr. Spyros Capralos in February 2011 for work performed for Star Bulk. Star Bulk has
also entered into a separate consulting agreement with a company owned and controlled by Mr. Capralos in February 2011 for work
performed by him outside of Greece. In May 2013, Star Bulk Management entered into renewal employment and consulting agreements
with Mr. Spyros Capralos and with a company owned and controlled by him. Under the employment agreement, Mr. Capralos received
an annual base salary which was subject to increase based on annual review by the compensation committee of our board of directors.
Under the consulting agreement, the company controlled by Mr. Capralos was entitled to receive an annual consulting fee. Mr. Capralos
also received additional incentive compensation as determined annually by the compensation committee of our board of directors,
in accordance with the terms and subject to the conditions of the consultancy agreement. In July 2014, the employment and consultancy
agreements with Mr. Capralos were terminated in connection with the July 2014 Transactions and Mr. Capralos received a severance
payment of 168,842 common shares and an amount of &euro;664,000 in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Management
entered into an employment agreement with Mr. Simos Spyrou in May 2011 for work performed for Star Bulk. Star Bulk has also entered
into a separate consulting agreement with a company owned and controlled by Mr. Spyrou in May 2011 for work performed by him outside
of Greece. In May 2013, Star Bulk Management entered, into renewal employment and consulting agreements with Mr. Spyrou and with
a company owned and controlled by him. Under the employment agreement, Mr. Spyrou receives an annual base salary which is subject
to increase based on annual review by the compensation committee of our board of directors. Under the consulting agreement, the
company controlled by Mr. Spyrou is entitled to receive an annual consulting fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Bulk Management
entered into a consulting agreement with a company owned and controlled by Mr. Zenon Kleopas in July 2011. This agreement has an
indefinite term and each party may terminate the agreement giving one month&#146;s notice. Under the consulting agreement, the
company controlled by Mr. Kleopas is entitled to receive an annual consulting fee. In addition, in connection with the July 2014
Transactions the Company&#146;s then Chief Operating Officer, Mr. Zenon Kleopas, was appointed Executive Vice President Technical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the completion
of the Merger, on December 17, 2014, we entered into employment agreements with Messrs. Petros Pappas, our new Chief Executive
Officer, Hamish Norton, our new President, Nicos Rescos, our new Chief Operating Officer, and Christos Begleris, our new Co-Chief
Financial Officer, for work performed for Star Bulk. We have also entered into consulting agreements with companies owned and controlled
by each of the new Chief Operating Officer and the new Co-Chief Financial Officer for work performed by them outside of Greece.
Under the employment agreements, Messrs. Rescos and Begleris receive an annual base salary which is subject to increase based on
annual review by the compensation committee of our board of directors. Under the consulting agreement, the companies controlled
by Messrs. Rescos and Begleris, respectively, are entitled to receive an annual consulting fee. The aforementioned employment and
consultancy agreements have a term of three years unless terminated earlier in accordance with their terms, except for the employment
agreement of the new Chief Executive Officer, which has a term of one year, unless terminated earlier in accordance with its terms.
On May 19, 2015, an addendum to the consultancy agreements with companies owned and controlled by each of our new Chief Operating
Officer and co-Chief Financial Officers was made, amending the annual consultancy fee paid by us, effective January 1, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our officers will be
eligible to receive discretionary bonus awards and/or awards under our equity incentive plan in such amounts, if any, as determined
by our board of directors, in its sole discretion. In making such determinations, the board of directors will consider the then
prevailing operations and financial condition of our Company, including any contingencies that are then known, as well as the amount
of compensation paid to similarly situated officers of other companies in the seaborne transportation industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Committees of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our audit committee
which is comprised of three independent directors, is responsible for, among other things, (i) reviewing our accounting controls,
(ii) making recommendations to the board of directors with respect to the engagement of our outside auditors and (iii) reviewing
all related party transactions for potential conflicts of interest and all those related party transactions and subject to approval
by our audit committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our compensation committee,
which is comprised of three directors (two of which are independent directors), is responsible for, among other things, recommending
to the board of directors our senior executive officers&#146; compensation and benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our nominating and
corporate governance committee, which is comprised of two independent directors, is responsible for, among other things, (i) recommending
to the board of directors nominees for director and directors for appointment to committees of the board of directors, and (ii)
advising the board of directors with regard to corporate governance practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Shareholders may also
nominate directors in accordance with procedures set forth in Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Audit Committee
consists of Mr. Koert Erhardt, Mr. Stelios Zavvos and Mr. Tom Softeland, who is the chairman of the committee. Our Compensation
Committee consists of Mr. Tom Softeland, Mr. Mahesh Balakrishnan and Mr. Spyros Capralos, who is the chairman of the committee.
Our Nominating Committee consists of Mr. Spyros Capralos, Ms. Jennifer Box and Mr. Koert Erhardt, who is the chairman of the committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">Employees</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2013, 2014 and 2015, and February 29, 2016 we had 67, 119 and 131, and 150 employees, respectively, including our executive officers.
The increase in the number employees during the last three years, resulted from the Merger, the acquisition of the Excel Vessels
and the anticipated deliveries of our newbuilding vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">E.</FONT></TD><TD STYLE="text-align: justify">Share Ownership</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With respect to the
total amount of common stock owned by all of our officers and directors, individually and as a group, see Item 7 &#147;Major Shareholders
and Related Party Transactions.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 7.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Major Shareholders and Related Party Transactions</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Major
                                         Shareholders<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><SUP></SUP></B></FONT></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
presents certain information as of February 29, 2016 regarding the ownership of our common shares with respect to each
shareholder, who we know to beneficially own more than five percent of our outstanding common shares, and our directors.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left; text-indent: -8.65pt; padding-left: 17.3pt"></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="font-weight: bold; text-align: center">Shares of common stock</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left">Beneficial Owner</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 10pt"><B>Percentage</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; text-align: left">Oaktree Capital Group Holdings GP, LLC and certain of its advisory clients (2)&#9;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">114,304,005</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">52.17</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Caspian Capital Management LLC (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">19,065,559</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.70</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Monarch Alternative Capital LP and certain of its advisory clients (4)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">11,711,820</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.35</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Angelo, Gordon and certain of its advisory clients (5)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9,247,881</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.22</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Millennia Holdings LLC (6)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,051,147</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.31</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Mirabel Shipholding &amp; Invest Limited (6)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,796,365</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ilta Commodities, S.A. (6)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Milena-Maria Pappas (7)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,750,335</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Excel Maritime Carriers Ltd. (8)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,245,194</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Petros Pappas&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Spyros Capralos&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">341,373</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Hamish Norton&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Simos Spyrou&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">81,984</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Christos Begleris&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Nicos Rescos&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,953</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Zenon Kleopas&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Tom S&oslash;fteland&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">86,675</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Koert Erhardt&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">102,947</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Roger Schmitz&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Mahesh Balakrishnan&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Jennifer Box&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ren&eacute;e Kemp&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Stelios Zavvos&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Emily Stephens&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Rajath Shourie&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Percentage amounts based on 219,105,712 common shares outstanding
                                         as of February 29, 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Consists of (i) 6,582,495 shares held by Oaktree Value Opportunities Fund, L.P. (&#147;VOF&#148;), (ii) 11,985,533 shares
held by Oaktree Opportunities Fund IX Delaware, L.P. (&#147;Fund IX&#148;), (iii) 110,082 shares held by Oaktree Opportunities
Fund IX (Parallel 2), L.P. (&#147;Parallel 2&#148;), (iv) 82,226,539 shares held by Oaktree Dry Bulk Holdings LLC (&#147;Dry
Bulk Holdings&#148;) and (v) 13,399,356 shares held by OCM XL Holdings L.P., a Cayman Islands exempted limited partnership (&#147;OCM
XL&#148;). Each of the foregoing funds and entities is affiliated with Oaktree Capital Group Holdings GP, LLC (&#147;OCGH&#148;).
The members of OCGH are Howard S. Marks, Bruce A. Karsh, Jay S. Wintrob, John B. Frank, Sheldon M. Stone, Larry W. Keele, Stephen
A. Kaplan and David M. Kirchheimer. Each of the direct and indirect general partners, managing members, directors, unit holders,
shareholders, and members of VOF, Fund IX, Parallel 2, Dry Bulk Holdings and OCM XL, may be deemed to share voting and dispositive
power over the shares owned by such entities, but disclaims beneficial ownership in such shares except to the extent of any pecuniary
interest therein. The address for these entities is c/o Oaktree Capital Management, L.P., 333 South Grand Avenue, 28th Floor, Los
Angeles, California 90071. OCM Investments, LLC (a subsidiary of Oaktree Capital Management, L.P., which is the investment manager
of the Oaktree Funds) is registered as a broker-dealer with the Commission and in all 50 states, the District of Columbia and Puerto
Rico, and is a member of the U.S. Financial Industry Regulatory Authority. Oaktree Funds purchased common shares in the ordinary
course of business and at the time of the purchase of the Company&#146;s common shares, had no agreements or understandings, directly
or indirectly, with any person to distribute the common shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Consists of (i) 16,608,539 shares held by Caspian Capital
                                         LP and (ii) 2,457,020 shares held by Caspian Credit Advisors, LLC.</TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Consists of (i) 4,375,021 shares held by Monarch Debt Recovery Master Fund Ltd., (ii) 2,301,803 shares held by Monarch Opportunities
Master Fund Ltd., (iii) 2,345,463 shares held by MCP Holdings Master LP, (iv) 1,697,239 shares held Monarch Capital Master Partners
III LP, (v) 445,483 shares held by P Monarch Recovery Ltd., (vi) 434,428 shares held by Monarch Alternative Solutions Master Fund
Ltd., (vii) 103,883 shares held by Monarch Capital Master Partners II LP and (viii) 8,500 shares held by Monarch Alternative Capital
LP (&#147;MAC&#148;). MAC serves as advisor to these entities with respect to shares directly owned by such entities. MDRA GP
LP (&#147;MDRA GP&#148;) is the general partner of MAC and Monarch GP LLC (&#147;Monarch GP&#148;) is the general partner of
MDRA GP. By virtue of such relationships, MAC, MDRA GP and Monarch GP may be deemed to have voting and dispositive power over the
shares owned by such entities. The address for these entities is 535 Madison Avenue, 26th Floor, New York, NY 10022.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>Consists of (i) 6,767,881 shares held by Silver Oak Capital, LLC, (ii) 910,000 shares held by AG Super Fund, L.P., (iii) 888,000
shares held by AG Capital Recovery Partners VII, L.P., (iv) 204,000 shares held by AG Super Fund International Partners, L.P.,
(v) 201,000 shares held by AG Eleven Partners, L.P., (vi) 121,000 shares held by AG Select Partners Advantage Fund, L.P., (vii)
68,000 shares held by AG FDS, L.P., (viii) 50,000 shares held by Nutmeg Partners, L.P., and (ix) 38,000 shares held by AG MM, L.P.
Angelo, Gordon &amp; Co., L.P. (&#147;AG&#148;) serves as advisor to these entities with respect to shares directly owned by
such entities. AG Partners, L.P. (&#147;AGP&#148;) is the general partner of AG and JAMG LLC (&#147;JAMG&#148;) is the general
partner of AGP. The managing members of JAMG are John M. Angelo and Michael L. Gordon. By virtue of such relationships, AG and
Messrs Angelo and Gordon may be deemed to have voting and dispositive power over the shares owned by the entities listed above.
The address for these entities is 245 Park Avenue, New York, New York 10167. AG BD LLC (a subsidiary of AG) is registered as a
broker-dealer with the Commission and in 19 states and is a member of the U.S. Financial Industry Regulatory Authority. The entities
listed in (i) through (viii) above purchased common shares in the ordinary course of business and, at the time of the purchase
of such common shares, had no agreements or understandings, directly or indirectly, with any person to distribute the common shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(6)</TD><TD>These companies are related to family members of our Chief Executive Officer, Mr. Petros Pappas.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(7)</TD><TD>Ms. Milena Maria Pappas is the daughter of our Chief Executive Officer, Mr. Petros Pappas, and our former Director.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(8)</TD><TD>Excel has received 29,917,312 common shares in the Excel Transactions as the Excel Vessel Share Consideration for the Excel
Vessels (or vessel-owning entities) transferred to us pursuant to binding agreements relating to the Excel Transactions executed
on August 19, 2014. In May 2015, Excel transferred 26,172,118 of these common shares to the equity holders of Excel. In October
2015, Excel transferred 2,500,000 of these common shares to the equity holders of Excel.</TD></TR></TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD>Less than 1%.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our major shareholders
have the same voting rights as our other shareholders. No foreign government owns more than 50% of our outstanding common shares.
We are not aware of any arrangements, the operation of which may at a subsequent date result in a change in control of Star Bulk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While Oaktree owns
more than 50% of our outstanding common shares, under the Oaktree Shareholders Agreement (described in &#147;Item 7. Major Shareholders
and Related Party Transactions&mdash;B. Related Party Transactions.&#148;), with certain limited exceptions, Oaktree effectively
cannot vote more than 33% of our outstanding common shares (subject to adjustment under certain circumstances). Furthermore, pursuant
to the Oaktree Shareholders Agreement, so long as Oaktree and its affiliates beneficially own at least 10% of our outstanding voting
securities, Oaktree and its affiliates have agreed not to directly or indirectly acquire beneficial ownership of any additional
voting securities of ours or other equity-linked or other derivative securities with respect to our voting securities if such acquisition
would result in Oaktree&#146;s beneficial ownership exceeding 63.6%, subject to certain specified exceptions. In addition, pursuant
to the Oaktree Shareholders Agreement, subject to various exclusions, so long as Oaktree and its affiliates beneficially own at
least 10% of our voting securities, unless specifically invited in writing by our board of directors, they may not (i) enter into
any tender or exchange offer or various types of merger, business combination, restructuring or extraordinary transactions, (ii)
solicit proxies or consents in respect of such transactions, (iii) otherwise act to seek to control or influence our management,
board of directors or other policies (except with respect to the nomination of Oaktree designees pursuant to the Oaktree Shareholders
Agreement and other nominees proposed by the Nominating and Corporate Governance Committee) or (iv) enter into any negotiations,
arrangements or understandings with any third party with respect to any of the above. Pursuant to the Oaktree Shareholders Agreement,
Oaktree also agreed to various limitations on the transfer of its common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of February 29,
2016, 219,105,712 of our outstanding common shares were held in the United States by 144 holders of record, including Cede &amp;
Co., the nominee for the Depository Trust Company, which held 132,647,194 of those shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Related Party Transactions</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Transactions with Oceanbulk Maritime,
S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Oceanbulk Maritime,
S.A., a related party, is a ship management company and is controlled by our former director Ms. Milena-Maria Pappas. During the
years 2012 and 2013, we paid to Oceanbulk Maritime, S.A. a brokerage commission of $91,264 and $90,436, respectively, relating
to the sale of certain of our vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 25, 2013,
our board of directors approved a commission payable to Oceanbulk Maritime, S.A. related to the negotiations with shipyards for
the construction of nine of our newbuilding vessels. We have agreed to pay a commission of 0.5% of the shipbuilding contract price
for two newbuilding Capesize vessels <I>Star Aries</I> (ex-HN 1338) and HN 1339 (tbn <I>Star Taurus</I>))
and three newbuilding Newcastlemax vessels (HN 1342 (tbn <I>Star Gemini</I>), HN1343 (tbn <I>Star Leo</I>) and HN NE 198 (tbn
<I>Star Poseidon</I>)) and a flat fee of $0.2 million per vessel for four newbuilding Ultramax vessels (<I>Star Aquarius </I>(ex
HN 5040), <I>Star Pisces </I>(ex HN 5043), HN NE 196 (tbn <I>Star Antares</I>) and HN NE 197 (tbn <I>Star Lutas</I>)). For all
of the nine newbuilding vessels, the total commission will amount to $2.1 million. We have agreed to pay the commission in four
equal installments, the first two installments were paid in cash, while the remaining two installments will be paid in the form
of common shares, the amount of which will depend on the price of our common shares on the date of the two remaining installments.
The first and the second installment of $0.5 million each, were paid in cash in December 2013 and in April 2014, respectively.
On October 28, 2015, we issued 171,171 shares representing the third installment. We determined the fair value per share by reference
to the closing price of our common shares on the issuance date. The last installment is due in April 2016. During the years ended
December 31, 2014 and 2015, $1.0 million and $0.3 million was capitalized to &#147;Advances for vessels under construction and
acquisitions of vessels&#148; in our consolidated balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 22, 2014,
Starbulk S.A. entered into an agreement with Oceanbulk Maritime S.A., under which certain management services, including crewing,
purchasing, arranging insurance, vessel telecommunications and master general accounts supervision, are provided to four dry bulk
vessels under the management of Oceanbulk Maritime S.A up to December 31, 2014. Pursuant to the terms of this agreement, Starbulk
S.A. received a fixed management fee of $170 per day, per vessel, which as of June 1, 2014, was changed to $110 per day, per vessel,
based on an addendum signed on May 22, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The related income
for the year ended December 31, 2014, was $0.2 million, and is included under &#147;Management fee income&#148; in our consolidated
statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, prior
to the Merger, Oceanbulk and the Pappas Companies had entered into a management agreement with Oceanbulk Maritime S.A. and its
affiliates pursuant to which Oceanbulk Maritime S.A. provided commercial and administrative services to Oceanbulk and the Pappas
Companies. Following the completion of the Merger on July 11, 2014, this management agreement with Oceanbulk Maritime S.A. was
terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Further, following
the completion of the Merger and the Pappas Transaction, we own the vessels <I>Magnum Opus</I> and <I>Tsu Ebisu</I>, which were
managed by Oceanbulk Maritime S.A. prior to the Merger and continued to be managed by that entity after the Merger, until August
and September 2014, respectively. The related expense for the year ended December 31, 2014, was $0.2 million, and is included under
&#147;Management fee expense&#148; in our consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Oceanbulk Maritime
S.A. has provided performance guarantees under the bareboat charter agreements relating to the shipbuilding contracts for the vessels
<I>Roberta </I>(ex-HN 1061), <I>Laura </I>(ex-HN 1062), <I>Idee Fixe </I>(ex-HN 1063) and <I>Kaley </I>(ex-HN 1064), which are
four vessels that were built in the New Yangzijiang shipyard. All of the performance guarantees described above have been counter-guaranteed
by Oceanbulk Carriers. Following the completion of the Merger in July 2014, in September 2014, Star Bulk provided counter-guarantees
to Oceanbulk Maritime S.A. in exchange for the counter-guarantees provided by Oceanbulk Carriers. The vessels were delivered to
us in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, Oceanbulk
Maritime S.A. has also provided performance guarantees under the shipbuilding contracts for the newbuilding vessels with hull numbers,
<I>Deep Blue </I>(ex-HN 5017), <I>Behemoth </I>(ex-HN 5055), <I>Megalodon </I>(ex<I>-</I>HN 5056), <I>Honey Badger </I>(ex-<I>
</I>HN NE164), <I>Wolverine </I>(ex<I>-</I>HN NE165), <I>Gargantua </I>(ex<I>-</I>HN NE166), <I>Goliath </I>(ex<I>-</I>HN NE167)
and <I>Maharaj </I>(ex<I>-</I>HN NE184). Prior to the Merger, all of the performance guarantees were counter-guaranteed by Oceanbulk
Shipping. Following the completion of the Merger, in September 2014 Star Bulk provided counter-guarantees to Oceanbulk Maritime
S.A. in exchange for the counter-guarantees provided by Oceanbulk Shipping. These vessels were delivered to us in early 2016, at
which time the guarantees were terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2014 and 2015, we had an outstanding receivable balance of $0.2 million and $1.2 million, respectively from Oceanbulk Maritime
S.A. The outstanding balance as of December 31, 2015 includes $0.9 million, which represents supervision cost for certain newbuilding
vessels managed by Oceanbulk Maritime and paid by us.<SUP> </SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Managed vessels of Oceanbulk Shipping</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to the Merger,
Starbulk S.A. had entered into vessel management agreements with certain entities owned and controlled by Oceanbulk Shipping. Pursuant
to the terms of these agreements, Starbulk S.A. received a fixed management fee of $750 per day, per vessel. These management agreements
were terminated on July 11, 2014, the date the Merger closed. The related income for the years ended December 31, 2013 and 2014
was $0.8 million and $1.4 million, respectively, and is included under &#147;Management fee income&#148; in our consolidated
statements of operations. As of December 31, 2014 and 2015, we had an outstanding payable of $0.01 million to Maiden Voyage LLC,
previous owner of the <I>Maiden Voyage</I>, one of the vessels of Oceanbulk Shipping.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Product Shipping and Trading S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 7, 2013, Starbulk
S.A. entered into an agreement with Product Shipping &amp; Trading S.A., a Marshall Islands company, under which, we provided certain
management services including crewing, purchasing and arranging insurance to the vessels which are under the management of Product
Shipping &amp; Trading S.A. Product Shipping &amp; Trading S.A is controlled by family members of our Chief Executive Officer,
Mr. Petros Pappas. Pursuant to the terms of this agreement, we received a fixed management fee of $130 per day, per vessel. In
October 2013, we decided to gradually cease providing the above mentioned services to the vessels which are under the management
of Product Shipping &amp; Trading S.A., except for arranging insurance services, and as a result, the management fee decreased
to $20 per day per vessel and effective July 1, 2014, the agreement was terminated. The related income for the year ended December
31, 2014, was $0.01 million and is included in &#147;Management fee income&#148; in the consolidated statements of operations.
As of December 31, 2014 and 2015 we had an outstanding receivable of $0.01 million and $0 respectively from Product Shipping &amp;
Trading S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Employment and Consultancy Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective February
7, 2011, we entered into an employment agreement with our former Chief Executive Officer and current Chairman, Mr. Spyros Capralos
to employ him as our Chief Executive Officer and President. On May 3, 2013, this agreement was renewed for a term of three years
and automatic renewal for a successive year unless terminated earlier in accordance with its terms. This agreement was terminated
in July 2014. Under the employment agreement, Mr. Capralos was entitled to receive an annual salary and additional incentive compensation
as determined annually by the compensation committee of our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective February
7, 2011, we also entered into a separate consulting agreement with a company owned and controlled by, our former Chief Executive
Officer and current Chairman, Mr. Spyros Capralos, for work performed by him outside of Greece. On May 3, 2013, this agreement
was renewed for a term of three years and automatic renewal for a successive year unless terminated earlier in accordance with
its terms. Under the consulting agreement, the company controlled by Mr. Capralos was entitled to receive an annual consulting
fee. Mr. Capralos was also entitled to receive additional incentive compensation as determined by the compensation committee of
our board of directors. Pursuant to a termination agreement between us and Mr. Spyros Capralos, dated July 31, 2014, we agreed
to terminate the employment and consultancy agreements with Mr. Capralos and agreed to a severance payment of 168,842 common shares
and an amount of &euro;664,000 in cash (approximately $0.7 million, using the exchange rate as of December 31, 2015, which was
$1.09 per euro).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 2, 2011, we
entered into an employment agreement with Mr. Simos Spyrou, our Co-Chief Financial Officer. On the same date, we also entered into
a separate consulting agreement with a company owned and controlled by Mr. Spyrou for work performed by him outside of Greece.
On May 3, 2013, each of these agreements was renewed for a term of three years and automatic renewal for a successive year unless
terminated earlier in accordance with their terms. Under the employment agreement, Mr. Spyrou received an annual base salary that
may increase based on annual review by the compensation committee of our board of directors. Under the consulting agreement, the
company controlled by Mr. Spyrou received an annual consulting fee and additional incentive compensation as determined annually
by the compensation committee of our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 1, 2011, we
entered into a consulting agreement with a company owned and controlled by our former Chief Operating Officer and current Executive
Vice-President-Technical, Mr. Zenon Kleopas. This agreement has an indefinite term and each party may terminate the agreement giving
one month&#146;s notice. Under this agreement the Company would pay Mr. Kleopas an annual consulting fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Following the completion
of the Merger, on December 17, 2014, we entered into consulting agreements with companies owned and controlled by each of the new
Chief Operating Officer, Mr. Nicos Rescos, and our new co-Chief Financial Officer, Mr. Christos Begleris. In addition, we entered
into employment agreements with the new Chief Executive Officer, the President, the new Chief Operating Officer and the new Co-Chief
Financial Officer, Messrs. Petros Pappas, Hamish Norton, Nicos Rescos and Christos Begleris, respectively. All these agreements
have a term of three years, unless terminated earlier in accordance with their terms, except for the employment agreement of the
new Chief Executive Officer, Mr. Petros Pappas, which has a term of one year, unless terminated earlier in accordance with its
terms. Pursuant to the consulting agreements, the entities controlled by the new Chief Operating Officer and the new co-Chief Financial
Officer are entitled to receive an annual discretionary bonus, as determined by the our board of directors in its sole discretion.
On May 19, 2015, we entered into an addendum to the consultancy agreements with companies owned and controlled by each of the new
Chief Operating Officer and the co-Chief Financial Officers, amending the annual consultancy fee paid by us, effective January
1, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to all aforementioned
consultancy agreements, effective as of December 31, 2015, we are required to pay an aggregate base fee at an annual rate of not
less than $0.6 million (this amount includes the annual Euro amount, under the relevant consultancy agreements, using the exchange
rate as of December 31, 2015, which was $1.09 per euro).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In aggregate, the related
expenses under the employment agreements for 2015, 2014 and 2013 were $1.9, $0.9 million and $0.2 million, respectively, and are
included in General and administrative expenses in the consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In aggregate, the related
expenses under the consultancy agreements for 2015, 2014 and 2013 were $0.6 million, $1.5 million, and $0.5 million, respectively,
and are included in General and administrative expenses in the consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lease Agreement with Combine Marine
Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 1, 2012,
Starbulk S.A. entered into a one year lease agreement for office space with Combine Marine Ltd., or Combine Ltd., a company controlled
by our former director Ms. Milena-Maria Pappas and by Mr. Alexandros Pappas, both children of our Chief Executive Officer, Mr.
Petros Pappas. The lease agreement provided for a monthly rental of &euro;2,500 (approximately $2,725, using the exchange rate
as of December 31, 2015, which was $1.09 per euro). On January 1, 2013, the agreement was renewed and unless terminated by either
party, it will expire in January 2024. The related rent expense for the years ended December 31, 2015, 2014 and 2013, was $34,545,
$41,834 and $40,883, respectively, and is included in General and administrative expenses in the consolidated statements of operations.
As of December 31, 2015 and 2014, we had an outstanding receivable balance of $0.01 million and $0, respectively, from Combine
Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interchart Shipping Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Interchart, a Liberian
company affiliated with family members of our Chief Executive Officer, acts as a chartering broker for all of our vessels. On
February 25, 2014, we acquired 33% of the total outstanding common stock of Interchart, for a total consideration of $0.4 million
consisting of $0.2 million in cash and 22,598 common shares. The common shares were issued on April 1, 2014, and the fair value
per share of $14.51 was determined by reference to the per share closing price of our common shares on the issuance date. The
ownership interest was purchased from an entity affiliated with family members of our Chief Executive Officer, including our former
director, Ms. Milena-Maria Pappas. On February 25, 2014, we entered into a services agreement with Interchart, for chartering,
brokering and commercial services for our vessels for an annual fee of &euro;0.5 million (approximately $0.55 million, using the
exchange rate as of December 31, 2015, which was $1.09 per euro). This fee is adjustable for changes in our fleet pursuant to
the terms of the services agreement. Before the services agreement, Interchart acted as chartering broker of all our vessels on
an agreed upon basis. Under the services agreement, all previously agreed upon brokerage commissions due to Interchart were cancelled
retroactively from January 1, 2014. In November 2014, we entered into a new services agreement with Interchart for chartering,
brokering and commercial services for all of our vessels for a monthly fee of $0.3 million. The new agreement was effective from
October 1, 2014 until March 31, 2015, and was renewed until December 31, 2016 immediately upon its expiry. The previous agreement
with Interchart, dated February 25, 2014, was terminated when this new agreement became effective. During the years
ended December 31, 2015, 2014 and 2013, the brokerage commission on charter revenue charged by Interchart amounted to $3.4 million,
$2.0 million and $0.8 million, respectively, and is included in &#147;Voyage expenses&#148; in the consolidated statements of
operations. As of December 31, 2015 and 2014, we had an outstanding liability of $0.01 million and $$0.01 million, respectively,
to Interchart.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Acquisition of Heron Vessels</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Heron is a 50-50 joint
venture between us and ABY Group Holding Limited, and we share joint control over Heron with ABY Group Holding Limited. More specifically,
following the completion of the Merger and the provision agreed as part of the Merger Agreement, with respect to the Heron Vessels,
we acquired a convertible loan of Heron, which on November 5, 2014 was converted into 50% of the equity of Heron. In addition,
pursuant to an agreement, dated September 5, 2014, among Oceanbulk Shipping, ABY Group and Heron with regards to the conversion
of the Heron convertible loan, the governance of Heron and the distribution of some of its vessels to Heron investors, on November
11, 2014, we entered into two separate agreements to acquire from Heron the vessels <I>Star Gwyneth (<FONT STYLE="font-family: Times New Roman, Times, Serif">ex-</FONT>ABYO
Gwyneth)</I> and <I>Star Angelina<FONT STYLE="font-family: Times New Roman, Times, Serif"> (</FONT>ex<FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT>ABYO
Angelina)</I>, which were delivered to us on December 5, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Oaktree Shareholders Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
summary of the material terms of the Oaktree Shareholders Agreement. Capitalized terms that are used in this description of the
Oaktree Shareholders Agreement but not otherwise defined below have the meanings ascribed to them under the caption, &#147;8.
Certain Definitions.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">General</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Oaktree Shareholders
Agreement was entered into on the date the Merger was completed (July 11, 2014) and governs the ownership interest of Oaktree and
its affiliated investment funds that own Common Shares (and any Affiliates (as defined below) of the foregoing persons that become
Oaktree Shareholders pursuant to a transfer or other acquisition of our Equity Securities (as defined below) in accordance with
the terms of the Oaktree Shareholders Agreement, collectively, the &#147;Oaktree Shareholders&#148;) following the Merger. Based
on the number of our outstanding common shares at April 6, 2015, the Oaktree Shareholders beneficially own approximately 50.81%
of the common shares of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Representation on the Board of Directors</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After the closing of
the Merger, we and the board of directors increased the size of the board of directors from six directors (&#147;Directors&#148;)
to nine Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Oaktree Shareholders
are entitled to nominate four (but in no event more than four) Directors (each such nominee, including the persons designated at
the closing of the Merger as described in the preceding paragraph the &#147;Oaktree Designees&#148;) to the board of directors
for so long as the Oaktree Shareholders and their Affiliates in the aggregate beneficially own (for purposes of the Oaktree Shareholders
Agreement and this summary, as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) 40% or more of our
outstanding Voting Securities. During any period the Oaktree Shareholders are entitled to nominate four Directors pursuant to the
Oaktree Shareholders Agreement: (i) if Mr. Petros Pappas is then serving as our Chief Executive Officer and as a Director, then
the Oaktree Shareholders are entitled to nominate only three Directors and (ii) at least one of the Oaktree Designees will not
be a citizen or resident of the United States solely to the extent that (x) at least one of the nominees to the board of directors
(other than the Oaktree Designees) is a United States citizen or resident and (y) as a result, we would not qualify as a &#147;foreign
private issuer&#148; under Rule 405 under the Securities Act of 1933 and Rule 3b-4(c) under the Exchange Act if such Oaktree Designee
is a citizen or resident of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Oaktree Shareholders
are entitled to nominate three Directors, two Directors and one Director to the board of directors for so long as the Oaktree Shareholders
and their Affiliates beneficially own 25% or more, but less than 40% of the outstanding Voting Securities, own 15% or more, but
less than 25% of the outstanding Voting Securities and own 5% or more, but less than 15% of our outstanding Voting Securities,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After the closing
of the Merger, pursuant to the Oaktree Shareholders Agreement, we appointed each of Mr. Rajath Shourie and Mses. Emily Stephens
and Ren&eacute;e Kemp (each of which was an Oaktree Designee) as a Director whose term expires at the first, second and third
annual meeting of the Stockholders following the date of completion of the Merger, respectively. Mr. Shourie was re-elected as
a Director at our 2014 Annual General Meeting. On February 17, 2015, Mr. Shourie and Ms. Stephens resigned as Directors and were
replaced by Mr. Mahesh Balakrishnan and Ms. Jennifer Box, both of whom are Oaktree Designees. On March 14, 2016, Ms. Ren&eacute;e
Kemp stepped down from our board of directors. Under the Oaktree Shareholders Agreement, Oaktree retains the right
to designate a replacement to Ms. Kemp, if and when it so decides.</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also agreed
to establish and maintain an audit committee (the &#147;Audit Committee&#148;), a compensation committee (the &#147;Compensation
Committee&#148;) and a nominating and corporate governance committee (the &#147;Nominating and Corporate Governance Committee&#148;),
as well as such other board of directors committees as the board of directors deems appropriate from time to time or as may be
required by applicable law or the rules of Nasdaq (or other stock exchange or securities market on which the Common Shares are
at any time listed or quoted). The committees will have such duties and responsibilities as are customary for such committees,
subject to the provisions of the Oaktree Shareholders Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Audit Committee,
the Compensation Committee and the Nominating and Corporate Governance Committee will consist of at least three Directors, with
the number of members determined by the board of directors; provided, however, that for so long as the Oaktree Shareholders and
their Affiliates in the aggregate beneficially own 15% or more of our outstanding Voting Securities, the Compensation Committee
and the Nominating and Corporate Governance Committee will consist of three members each, and the Oaktree Shareholders are entitled
to include one Oaktree Designee on each such Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The board of directors
will appoint individuals selected by the Nominating and Corporate Governance Committee to fill the positions on the committees
of the board of directors that are not required to be filled by Oaktree Designees. As of April 6, 2015, our Audit Committee consists
of Mr. Koert Erhardt, Mr. Stelios Zavvos and Mr. Tom Softeland, who is the chairman of the committee. As of April 6, 2015, our
Compensation Committee consists of Mr. Tom Softeland, Mr. Mahesh Balakrishnan and Mr. Spyros Capralos, who is the chairman of the
committee. As of April 6, 2015, our Nominating Committee consists of Mr. Spyros Capralos, Ms. Jennifer Box and Mr. Koert Erhardt,
who is the chairman of the committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Directors serve on
the board until their resignation or removal or until their successors are nominated and appointed or elected; provided, that if
the number of Directors that the Oaktree Shareholders are entitled to nominate pursuant to the Oaktree Shareholder Agreement is
reduced by one or more Directors, then the Oaktree Shareholders shall, within 5 business days, cause such number of Oaktree Designees
then serving on the board of directors to resign from the board of directors as is necessary so that the remaining number of Oaktree
Designees then serving on the board of directors is less than or equal to the number of Directors that the Oaktree Shareholders
are then entitled to nominate. However, no such resignation will be required if a majority of the Directors then in office (other
than the Oaktree Designees) provides written notification to the Oaktree Shareholders within such 5 business day period that such
resignation will not be required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any Oaktree Designee
serving as a Director dies or is unwilling or unable to serve as such or is otherwise removed or resigns from office, then the
Oaktree Shareholders can promptly nominate a successor to such Director (to the extent they are still entitled to pursuant to the
Oaktree Shareholder Agreement). We have agreed to take all actions necessary in order to ensure that such successor is appointed
or elected to the board of directors as promptly as practicable. If the Oaktree Shareholders are not entitled to nominate any vacant
Director position(s), we and the board of directors will fill such vacant Director position(s) with an individual(s) selected by
the Nominating and Corporate Governance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Voting</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except with respect
to any Excluded Matter (as defined below), at any meeting of our stockholders, Oaktree Shareholders have agreed to (and have agreed
to cause their Affiliates to) vote, or cause to be voted, or exercise their rights to consent (or cause their rights to consent
to be exercised) with respect to, all our Voting Securities beneficially owned by them (and which are entitled to vote on such
matter) in excess of the Voting Cap as of the record date for the determination of our stockholders entitled to vote or consent
to such matter, with respect to each matter on which our stockholders are entitled to vote or consent, in the same proportion (for
or against) as our Voting Securities that are owned by stockholders (other than an Oaktree Shareholder, any of their Affiliates
or any Group (for purposes of the Oaktree Shareholders Agreement and this summary, as such term is defined in Section 13(d)(3)
of the Exchange Act), which includes any of the foregoing) are voted or consents are given with respect to each such matter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In any election of
directors to the board of directors, except with respect to an election of Directors to the board of directors where one or more
members of the slate of nominees put forward by the Nominating and Corporate Governance Committee is being opposed by one or more
competing nominees (a &#147;Contested Election&#148;), the Oaktree Shareholders have agreed to (and have agreed to cause their
Affiliates to) vote, or cause to be voted, or exercise their rights to consent (or cause their rights to consent to be exercised)
with respect to, all our shares beneficially owned by them (and which are entitled to vote on such matter) in favor of the slate
of nominees approved by the Nominating and Corporate Governance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the case of a Contested
Election, Oaktree Shareholders have agreed to (and have agreed to cause their Affiliates to) vote, or cause to be voted, or exercise
their rights to consent (or cause their rights to consent to be exercised) with respect to, all shares beneficially owned by them
in excess of the Voting Cap in the same proportion (for or against) as all of our shares that are owned by our other stockholders
(other than the Oaktree Shareholders, any of their Affiliates or any Group which includes any of the foregoing) are voted or consents
are given with respect to such Contested Election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For so long as the
Oaktree Shareholders and their affiliates in the aggregate beneficially own at least 33% of the outstanding Voting Securities of
the Company, without the prior written consent of Oaktree, we and the board of directors have agreed not to, directly or indirectly
(whether by merger, consolidation or otherwise), (i) issue Preferred Stock or any other class or series of our Equity Interests
that ranks senior to the shares as to dividend distributions and/or distributions upon the liquidation, winding up or dissolution
of the Company or any other circumstances, (ii) issue Equity Securities to a person or Group, if, after giving effect to such transaction,
such issuance would result in such Person or Group beneficially owning more than 20% of our outstanding Equity Securities (except
that we and the board of directors retain the right to issue Equity Securities in connection with a merger or other business combination
transaction with the consent of the Oaktree Shareholders), or (iii) issue any Equity Securities of any of our subsidiaries (other
than to the Company or a wholly-owned subsidiary of the Company); or (iv) terminate the Chief Executive Officer or any other of
our officers set forth in the Oaktree Shareholders Agreement at any time during the 18 months following the closing date, except
if such termination is for Cause (as defined in our 2014 Equity Incentive Plan).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the 18 months
after the closing of the Merger, for so long as the Oaktree Shareholders and their affiliates in the aggregate beneficially own
at least 33% of our outstanding Voting Securities, the affirmative approval of at least seven Directors will be required to appoint
any replacement Chief Executive Officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Standstill Restrictions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For so long as the
Oaktree Shareholders and their Affiliates in the aggregate beneficially own at least 10% of our outstanding Voting Securities,
the Oaktree Shareholders and their Affiliates have agreed not to, directly or indirectly, acquire (i) the beneficial ownership
of any additional of our Voting Securities, (ii) the beneficial ownership of any other of our Equity Securities that derive their
value from any of our Voting Securities or (iii) any rights, options or other derivative securities or contracts or instruments
to acquire such beneficial ownership that derive their value from such Voting Securities or other Equity Securities, in each case
of clauses (i), (ii) and (iii), if, immediately after giving effect to any such acquisition, Oaktree Shareholders and their Affiliates
would beneficially own in the aggregate more than a percentage of our outstanding Voting Securities equal to (A) the Oaktree Shareholders&#146;
ownership percentage of our Voting Securities immediately after the closing of the Merger (i.e., approximately 61.3%) plus (B)
2.5%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing restrictions
do not apply to participation by the Oaktree Shareholders or their Affiliates in: (i) pro rata primary offerings of our Equity
Securities based on number of outstanding Voting Securities held or (ii) acquisitions of our Equity Securities that have received
Disinterested Director Approval (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For so long as the
Oaktree Shareholders and their Affiliates in the aggregate beneficially own at least 10% of our Voting Securities, unless specifically
invited in writing by the board of directors (with Disinterested Director Approval), neither Oaktree nor any of their Affiliates
will in any manner, directly or indirectly, (i) enter into any tender or exchange offer, merger, acquisition transaction or other
business combination or any recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction involving
the Company, (ii) make, or in any way participate in, directly or indirectly, any &#147;solicitation&#148; of &#147;proxies,&#148;
&#147;consents&#148; or &#147;authorizations&#148; (as such terms are used in the proxy rules of the SEC promulgated under
the Exchange Act) to vote, or seek to influence any person other than the Oaktree Shareholders with respect to the voting of, any
of our Voting Securities (other than with respect to the nomination of the Oaktree Designees and any other nominees proposed by
the Nominating and Corporate Governance Committee), (iii) otherwise act, alone or in concert with third parties, to seek to control
or influence the management, board of directors or policies of the Company or any of its Subsidiaries (other than with respect
to the nomination of the Oaktree Designees and any other nominees proposed by the Nominating and Corporate Governance Committee),
or (iv) enter into any negotiations, arrangements or understandings with any third party with respect to any of the foregoing activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, if (i) we
publicly announce our intent to pursue a tender offer, merger, sale of all or substantially all of our assets or any similar transaction,
which in each such case would result in a Change of Control Transaction, or any recapitalization, restructuring, liquidation, dissolution
or other extraordinary transaction involving the Company and its subsidiaries, taken as a whole, then the Oaktree Shareholders
are permitted to privately make an offer or proposal to the board of directors and (ii) if the board of directors approves, recommends
or accepts a buyout transaction with an Unaffiliated Buyer, the restrictions of the Oaktree Shareholders&#146; participation in
such transaction will cease to apply, except that any such actions must be discontinued upon the termination or abandonment of
the applicable buyout transaction (unless the board of directors determines otherwise with Disinterested Director Approval).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Limitations on Transfer; No Control Premium</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For so long as Oaktree
and their Affiliates in the aggregate beneficially own at least 10% of our Voting Securities, the Oaktree Shareholders and their
Affiliates have agreed not to sell any of their Common Shares to a person or group that, after giving effect to such transaction,
would hold more than 20% of our outstanding Equity Securities. Notwithstanding the foregoing, the Oaktree and their Affiliates
may sell their shares in the Company to any person or Group pursuant to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sales that have received Disinterested Director Approval;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a tender offer or exchange offer, by an Unaffiliated Buyer, that is made to all of our stockholders,
so long as such offer would not result in a Change of Control Transaction, unless the consummation of such Change of Control Transaction
has received Disinterested Director Approval;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">transfers to an Affiliate of the Oaktree Shareholders that is an investment fund or managed account
in accordance with the Oaktree Shareholders Agreement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sales in the open market (including sales conducted by a third-party underwriter, initial purchaser
or broker-dealer) in which the Oaktree Shareholder or their Affiliates do not know (and would not in the exercise of reasonable
commercial efforts be able to determine) the identity of the purchaser.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For so long as the
Oaktree Shareholders and their Affiliates in the aggregate beneficially own at least 10% of our Voting Securities, neither the
Oaktree Shareholders nor any of their Affiliates will sell or otherwise dispose of any of their Common Shares in any Change of
Control Transaction unless our other stockholders of the Company are entitled to receive the same consideration per Common Share
(with respect to the form of consideration and price), and at substantially the same time, as the Oaktree Shareholders or their
Affiliates with respect to their Common Shares in such transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Other Agreements</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For so long as the
Oaktree Shareholders are entitled to nominate at least one Director, all transactions involving the Oaktree Shareholders or their
Affiliates, on the one hand, and the Company or its subsidiaries, on the other hand, will require Disinterested Director Approval;
provided, that Disinterested Director Approval will not be required for (a) pro rata participation in primary offerings of our
Equity Securities based on number of outstanding Voting Securities held, (b) arms-length ordinary course business transactions
of not more than $5 million in the aggregate per year with portfolio companies of the Oaktree Shareholders or investment funds
or accounts Affiliated with the Oaktree Shareholders or (c) the transactions expressly required or expressly permitted under the
Merger Agreement relating to Heron, the Registration Rights Agreement and the Oaktree Shareholders Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also agreed
to waive (on behalf of itself and its subsidiaries) the application of the doctrine of corporate opportunity, or any other analogous
doctrine, with respect to the Company and its subsidiaries, to the Oaktree Designees, to any of the Oaktree Shareholders or to
any of the respective Affiliates of the Oaktree Designees or any of the Oaktree Shareholders. None of the Oaktree Designees, any
Oaktree Shareholder or any of their respective Affiliates has any obligation to refrain from (i) engaging in the same or similar
activities or lines of business as the Company or any of its subsidiaries or developing or marketing any products or services that
compete, directly or indirectly, with those of the Company or any of its subsidiaries, (ii) investing or owning any interest publicly
or privately in, or developing a business relationship with, any Person engaged in the same or similar activities or lines of business
as, or otherwise in competition with, the Company or any of its subsidiaries or (iii) doing business with any client or customer
of the Company or any of its subsidiaries (each of the activities referred to in clauses (i), (ii) and (iii), a &#147;Specified
Activity&#148;). We (on behalf of the Company and its subsidiaries) have agreed to renounce any interest or expectancy in, or
in being offered an opportunity to participate in, any Specified Activity that may be presented to or become known to any Oaktree
Shareholder or any of its Affiliates. However, if and to the extent that from time to time after the closing of the Merger Mr.
Petros Pappas may be considered an Affiliate of any Oaktree Shareholder, the foregoing waivers do not apply to Mr. Petros Pappas,
and any provisions governing corporate opportunities set forth in the Pappas Shareholders Agreement with respect to Mr. Petros
Pappas and/or any employment or services agreement between the Company and Mr. Petros Pappas control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain Exclusions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The restrictions described
in &#147;Voting,&#148; &#147;Standstill Restrictions&#148; and &#147;Limitations on Transfer; No Control Premium&#148; of
this summary do not apply to portfolio companies of the Oaktree Shareholders or their Affiliates unless Oaktree (or its successor)
possesses at least 50% of the voting power of such portfolio companies or an action of such portfolio company is taken at the express
request or direction of, or in coordination with, an Oaktree Shareholder or its affiliate investment funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed to acknowledge
that the Oaktree Shareholders have made investments and entered into business arrangements with Mr. Petros Pappas, his immediate
family, the members of the Pappas Seller (immediately prior to the Merger) or their respective Affiliates (collectively, the &#147;Pappas
Investors&#148;) outside of the Oceanbulk Companies, and may from time to time enter into certain agreements with respect to the
holding and/or disposition of Equity Securities of the Company. For purposes of the Oaktree Shareholders Agreement, these arrangements
and potential future agreements between the Oaktree Shareholders or their Affiliates, on the one hand, and the Pappas Investors,
on the other hand, will not cause (i) any Oaktree Shareholder to be deemed to be an Affiliate of, or constitute a group or beneficially
own any Equity Securities of the Company beneficially owned by, the Pappas Investors, or (ii) the Equity Securities of the Company
held by the Pappas Investors to be deemed to be subject to the provisions of the Oaktree Shareholders Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain Definitions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of this
description of the Oaktree Shareholders Agreement, the following definitions apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Affiliate</U>&#148;
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with, such first Person, where &#147;control&#148; for purposes of this definition
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ownership of voting securities, by contract, as trustee or executor or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Change of
Control Transaction</U>&#148; means (a) any acquisition, in one or more related transactions, by any Person or Group, whether
by transfer of Equity Securities, merger, consolidation, amalgamation, recapitalization or equity sale (including a sale of securities
by the Company) or otherwise, which has the effect of the direct or indirect acquisition by such Person or Group of the Majority
Voting Power in the Company; or (b) any acquisition by any Person or Group directly or indirectly, in one or more related transactions,
of all or substantially all of the consolidated assets of the Company and its subsidiaries (which may include, for the avoidance
of doubt, the sale or issuance of Equity Securities of one or more subsidiaries of the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Common Shares</U>&#148;
means the shares of common stock, par value $0.01 per share, of the Company, or any other capital stock of the Company or any other
Person into which such stock is reclassified or reconstituted (whether by merger, consolidation or otherwise) (as adjusted for
any stock splits, stock dividends, subdivisions, recapitalizations and the like).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Company</U>&#148;
means Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Disinterested
Director Approval</U>&#148; means, with respect to any transaction or conduct requiring such approval pursuant to this Agreement,
the approval of a majority of the Disinterested Directors with respect to such transaction or conduct (and the quorum requirements
set forth in the charter or bylaws of the Company shall be reduced to exclude any Directors that are not Disinterested Directors
for purposes of such approval).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Disinterested
Directors</U>&#148; means any Directors who (a) are not Oaktree Designees and (b) do not have any material business, financial
or familial relationship with a party (other than the Company or its subsidiaries) to the transaction or conduct that is the subject
of the approval being sought. Notwithstanding the foregoing, Petros Pappas shall not constitute an Oaktree Designee (other than
for purposes of the election of directors, the standstill obligations and the transfer limitations applicable to the Oaktree Shareholders
and their Affiliates), and the existing agreements and potential future arrangements with respect to the holding and/or disposition
of Equity Securities between the Pappas Investors and the Oaktree Shareholders shall not disqualify Petros Pappas or other Pappas
Investors from constituting a Disinterested Director for purposes of this Agreement (with certain exceptions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Equity Securities</U>&#148;
means, with respect to any entity, all forms of equity securities in such entity or any successor of such entity (however designated,
whether voting or non-voting), all securities convertible into or exchangeable or exercisable for such equity securities, and all
warrants, options or other rights to purchase or acquire from such entity or any successor of such entity, such equity securities,
or securities convertible into or exchangeable or exercisable for such equity securities, including, with respect to the Company,
the Common Shares and Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Excluded
Matter</U>&#148; includes each of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(a) any vote
of the Stockholders in connection with a Change of Control Transaction with an Unaffiliated Buyer; <U>provided</U>, <U>however</U>,
that if the Oaktree Shareholders or their Affiliates are voting in support of such Change of Control Transaction, then such vote
shall constitute an Excluded Matter only if such Change of Control Transaction has received the Disinterested Director Approval;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(b) any vote
of the Stockholders in connection with (i) an amendment to the charter or bylaws of the Company or (ii) the dissolution of the
Company; <U>provided</U>, <U>however</U>, that if the Oaktree Shareholders or their Affiliates are voting in support of such matter
in either case, then such vote shall constitute an Excluded Matter only if such matter has received the Disinterested Director
Approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Majority
Voting Power</U>&#148; means, with respect to any Person, either (a) the power to elect or direct the election of a majority of
the board of directors or other similar body of such Person or (b) direct or indirect beneficial ownership of Equity Securities
representing more than 39% of the Voting Securities of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Other Large
Holder</U>&#148; means, with respect to any matter in which the Stockholders are entitled to vote or consent, any Person or Group
that is not an Oaktree Shareholder, an Affiliate of an Oaktree Shareholder or a Group that includes any of the foregoing; <U>provided</U>,
<U>however</U>, that if the Oaktree Shareholders, on the one hand, and the Pappas Investors, on the other hand, are entitled to
vote on or consent to such matter and a majority of the Voting Securities held by the Pappas Investors are voting on or consenting
to such matter in the same manner as a majority of the Voting Securities held by the Oaktree Shareholders (i.e., both positions
of Voting Securities are &#147;for&#148; or both positions of Voting Securities are &#147;against&#148;), then an &#147;Other
Large Holder&#148; shall mean any Person or Group that is not an Oaktree Shareholder, a Pappas Investor, an Affiliate of either
of the foregoing or a Group that includes any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Other Large
Holder Effective Voting Percentage</U>&#148; means, with respect to an Other Large Holder as of the record date for the determination
of Stockholders entitled to vote or consent to any matter, the ratio (expressed as a percentage) of (a) the sum of (i) the number
of Voting Securities of the Company beneficially owned by such Other Large Holder as of such record date, plus (ii) the product
of (x) the excess (if any) of the number of Voting Securities of the Company beneficially owned in the aggregate by the Oaktree
Shareholders and their Affiliates as of such record date, <U>over</U> the number of Voting Securities of the Company that is equal
to the product of the total number of Voting Securities of the Company outstanding as of such record date, multiplied by the Voting
Cap Percentage applicable with respect to such matter, multiplied by (y) a percentage equal to (I) the number of Voting Securities
of the Company beneficially owned by such Other Large Holder as of such record date, divided by (II) the number of Voting Securities
of the Company beneficially owned by all Stockholders (other than the Oaktree Shareholders and their Affiliates) as of such record
date and with respect to which a vote was cast or consent given (for or against) in respect of such matter, divided by (b) the
total number of Voting Securities of the Company outstanding as of such record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Person</U>&#148;
means an association, a corporation, an individual, a partnership, a limited liability company, a trust or any other entity or
organization, including a Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Preferred
Shares</U>&#148; means the shares of preferred stock, par value $0.01 per share, of the Company, or any other capital stock of
the Company or any other Person into which such stock is reclassified or reconstituted (whether by merger, consolidation or otherwise)
(as adjusted for any stock splits, stock dividends, subdivisions, recapitalizations and the like).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Unaffiliated
Buyer</U>&#148; means any Person other than (a) an Oaktree Shareholder, (b) an Affiliate of an Oaktree Shareholder, (c) any Person
or Group in which an Oaktree Shareholder and/or any of its Affiliates has, at the applicable time of determination, Equity Securities
of at least $100 million (whether or not such Person or Group is deemed to be an Affiliate of an Oaktree Shareholder) (provided
that this clause (c) shall not be applicable for purposes of Section 4.2 hereof) and (d) a Group that includes any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Voting Cap</U>&#148;
means, as of any date of determination, the number of Voting Securities of the Company equal to the product of (a) the total number
of outstanding Voting Securities of the Company as of such date <U>multiplied</U> by (b) the Voting Cap Percentage as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Voting Cap
Maximum</U>&#148; means, as of any date of determination, a percentage equal to the Other Large Holder Effective Voting Percentage
as of such date <U>multiplied by</U> 110%; <U>provided</U>, that if the Voting Cap Percentage obtained by applying such Voting
Cap Maximum would exceed 39%, then the Voting Cap Maximum shall equal the greater of (a) the sum of the Other Large Holder Effective
Voting Percentage as of such date <U>plus</U> 1% and (b) 39%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Voting Cap
Percentage</U>&#148; means 33%; <U>provided</U>, <U>however</U>, that if as of the record date for the determination of Stockholders
entitled to vote or consent to any matter, an Other Large Holder beneficially owns greater than 15% of the outstanding Voting Securities
of the Company (the &#147;<U>Voting Cap Threshold</U>&#148;), then, subject to the next proviso, for every 1% of outstanding
Voting Securities of the Company beneficially owned by such Other Large Holder in excess of the Voting Cap Threshold, the Voting
Cap Percentage shall be increased by 2%; <U>provided further</U>, <U>however</U>, that the Voting Cap Percentage shall not exceed
a percentage equal to the Voting Cap Maximum as of such record date. For the avoidance of doubt, if multiple Other Large Holders
beneficially own more than 15% of the outstanding Voting Securities of the Company, the Voting Cap Percentage shall be adjusted
in relation to that Other Large Holder having the greatest beneficial ownership of Voting Securities of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Voting Securities</U>&#148;
means, with respect to any entity as of any date, all forms of Equity Securities in such entity or any successor of such entity
with voting rights as of such date, other than any such Equity Securities held in treasury by such entity or any successor or subsidiary
thereof, including, with respect to the Company, Common Shares and Preferred Shares (in each case to the extent (a) entitled to
voting rights and (b) issued and outstanding and not held in treasury by the Company or owned by subsidiaries of the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Pappas Shareholders Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
summary of the material terms of the Pappas Shareholders Agreement. Capitalized terms that are used in this description of the
Pappas Shareholders Agreement but not otherwise defined below have the meanings ascribed to them under the caption, &#147;8. Certain
Definitions.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">General</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Pappas Shareholders
Agreement, which entered into effect on July 11, 2014, upon the closing of the Merger, governs the ownership interest of Mr. Petros
Pappas and his children, Ms. Milena-Maria Pappas (one of our former directors) and Mr. Alexandros Pappas, and entities affiliated
to them (&#147;Pappas Shareholders&#148;) in the Company following consummation of the Merger. Based upon the number of our shares
outstanding as of April 6, 2015, the Pappas Shareholders beneficially own approximately 6.80% of our total issued and outstanding
common shares of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Voting</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At any meeting of our
stockholders, the Pappas Shareholders have agreed to (and have agreed to cause their Affiliates to) vote, or cause to be voted,
or exercise their rights to consent (or cause their rights to consent to be exercised) with respect to, all of our shares beneficially
owned by them (and which are entitled to vote on such matter) in excess of the Voting Cap as of the record date for the determination
of our stockholders entitled to vote or consent to such matter, with respect to each matter on which our stockholders are entitled
to vote or consent, in the same proportion (for or against) as all shares owned by other of our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as described
below, in any election of directors to the board of directors, the Pappas Shareholders have agreed to (and have agreed to cause
their Affiliates to) vote, or cause to be voted, or exercise their rights to consent (or cause their rights to consent to be exercised)
with respect to, all of our shares beneficially owned by them (and which are entitled to vote on such matter) in favor of the slate
of nominees approved by the Nominating and Corporate Governance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At any Contested Election
following the later of (i) the date on which Mr. Petros Pappas ceases to be our Chief Executive Officer or (ii) the date on which
Mr. Petros Pappas ceases to be a Director, the Pappas Shareholders have agreed to (and have agreed to cause their Affiliates to)
vote, or cause to be voted, or exercise their rights to consent (or cause their rights to consent to be exercised) with respect
to, all shares beneficially owned by them in excess of the Voting Cap in the same proportion (for or against) as all shares owned
by other of our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Standstill Restrictions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the terms of
the Pappas Shareholders Agreement, until the Pappas Shareholders Agreement is terminated, neither the Pappas Shareholders nor any
of their Affiliates will in any manner, directly or indirectly, (i) enter into any tender or exchange offer, merger, acquisition
transaction or other business combination or any recapitalization, restructuring, liquidation, dissolution or other extraordinary
transaction involving the Company, (ii) make, or in any way participate, directly or indirectly, in any solicitations of proxies,
consents or authorizations to vote, or seek to influence any Person other than the Pappas Shareholders with respect to the voting
of, any Voting Securities of the Company or any of its Subsidiaries (other than with respect to the nomination of any nominees
proposed by the Nominating and Corporate Governance Committee), (iii) otherwise act, alone or in concert with third parties, to
seek to control or influence the management, board of directors or policies of the Company or any of its Subsidiaries (other than
with respect to the nomination of any nominees proposed by the Nominating and Corporate Governance Committee), (iii) otherwise
act, alone or in concert with third parties, to seek to control or influence the management, board of directors or policies of
the Company or any of its Subsidiaries (other than with respect to the nomination of any nominees proposed by the Nominating and
Corporate Governance Committee), or (iv) enter into any negotiations, arrangements or understandings with any third party with
respect to any of the foregoing activities. However, if (i) we publicly announce our intent to pursue a tender offer, merger, sale
of all or substantially all of our assets, then the Pappas Shareholders will be permitted to privately make an offer or proposal
to the board of directors and (ii) if the board of directors approves, recommends or accepts a buyout transaction the standstill
restrictions of the Pappas Shareholders&#146; participation in such transaction will cease to apply until such buyout transaction
is terminated or abandoned and will become applicable again upon any such termination or abandonment (unless the board of directors
determines otherwise with Disinterested Director Approval).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">No Aggregation with Oaktree</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed to acknowledge
that the Pappas Shareholders have made investments and entered into business arrangements with the Oaktree Shareholders outside
of Oceanbulk, and may from time to time enter into certain agreements with respect to the holding and/or disposition of Equity
Securities of the Company. For purposes of the Pappas Shareholders Agreement, these arrangements and potential future agreements
between the Pappas Shareholders and the Oaktree Shareholders will not cause (i) any Pappas Shareholder to be deemed to be an Affiliate
of, or constitute a group or beneficially own of our Equity Securities beneficially owned by, the Oaktree Shareholders, or (ii)
our Equity Securities held by the Oaktree Shareholders to be deemed to be subject to the provisions of the Pappas Shareholders
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Other Agreements</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All transactions involving
the Pappas Shareholders or their Affiliates, on the one hand, and the Company or its Subsidiaries, on the other hand, will require
Disinterested Director Approval; provided, that Disinterested Director Approval will not be required for pro rata participation
in primary offerings of our Equity Securities based on number of outstanding Voting Securities held.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Corporate Opportunity</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From and after the
date of the Pappas Shareholders Agreement and through and including the earliest of (x) the date of termination of the Pappas Shareholders
Agreement, (y) the 36-month anniversary of the date of the Pappas Shareholders Agreement and (z) the date that Petros Pappas ceases
to be our Chief Executive Officer, if a Pappas Shareholder (or any Affiliate thereof) acquires knowledge of a potential dry bulk
transaction or dry bulk matter which may, in such Pappas Shareholder&#146;s good faith judgment, be a business opportunity for
both such Pappas Shareholder and the Company (subject to certain exceptions), such Pappas Shareholder (and its Affiliate) has the
duty to promptly communicate or offer such opportunity to the Company. If we do not notify the applicable Pappas Shareholder within
five business days following receipt of such communication or offer that it is interested in pursuing or acquiring such opportunity
for itself, then such Pappas Shareholder (or its Affiliate) will be entitled to pursue or acquire such opportunity for itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Termination</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Pappas Shareholders
Agreement will terminate upon the earlier of (a) a liquidation, winding-up or dissolution of the Company and (b) the later of (x)
such time as the Pappas Shareholders and their Affiliates in the aggregate beneficially own less than 5% of the outstanding our
Voting Securities and (y) the date that is six months following the later of (i) the date Petros Pappas ceases to be the Chief
Executive Officer or (ii) the date Mr. Petros Pappas ceases to be a Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain Definitions</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of this
description of the Pappas Shareholders Agreement, the following definitions apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Affiliate</U>&#148;
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with, such first Person, where &#147;control&#148; means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership
of voting securities, by contract, as trustee or executor or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>beneficial
owner</U>&#148; means a &#147;beneficial owner&#148;, as such term is defined in Rule 13d-3 under the Exchange Act; &#147;beneficially
own&#148;, &#147;beneficial ownership&#148; and related terms shall have the correlative meanings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Company</U>&#148;
means Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Contested
Election</U>&#148; means an election of Directors to the board of directors where one or more members of the slate of nominees
put forward by the Nominating and Corporate Governance Committee is being opposed by one or more competing nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Disinterested
Director Approval</U>&#148; means the approval of a majority of the Disinterested Directors (and the quorum requirements set forth
in the Charter or bylaws of the Company shall be reduced to exclude any Directors that are not Disinterested Directors for purposes
of such approval).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Disinterested
Directors</U>&#148; means any Directors who (a) are not Petros Pappas, any other Pappas Shareholder or any Affiliate of any Pappas
Shareholder and (b) do not have any material business, financial or familial relationship with a party (other than the Company
or its Subsidiaries) to the transaction or conduct that is the subject of the approval being sought. Notwithstanding the foregoing,
the agreements and relationships between the Pappas Shareholders and the Oaktree Shareholders shall not disqualify any Director
designated by Oaktree from constituting a Disinterested Director (except if any such Oaktree designee is Mr. Petros Pappas, any
Pappas Shareholder or any Affiliate thereof). Notwithstanding anything to the contrary in the foregoing, any Oaktree designee shall
be disqualified from constituting a Disinterested Director for purposes of the standstill provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Equity Securities</U>&#148;
means, with respect to any entity, all forms of equity securities in such entity or any successor of such entity (however designated,
whether voting or non-voting), all securities convertible into or exchangeable or exercisable for such equity securities, and all
warrants, options or other rights to purchase or acquire from such entity or any successor of such entity, such equity securities,
or securities convertible into or exchangeable or exercisable for such equity securities, including, with respect to the Company,
the Common Shares and Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#147;<U>Voting Cap</U>&#148;
means, as of any date of determination, the number of Voting Securities of the Company equal to the product of (a) the total number
of outstanding Voting Securities of the Company as of such date <U>multiplied</U> by (b) 14.9%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Registration Rights Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 11, 2014, the
Oaktree Seller, the Pappas Seller, certain of our stockholders affiliated with Monarch and certain affiliates thereof entered into
the Registration Rights Agreement. Pursuant to the terms of the Registration Rights Agreement, we have, among other things, filed
Form F-3 registration statement (Registration No. 333-197886), covering the resale of shares owned by such stockholders, which
was declared effective on September 25, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the Registration
Rights Agreement also provides the Oaktree Seller and its affiliates with certain demand registration rights and provides the Oaktree
Seller, Pappas Seller, Monarch and certain affiliates thereof with certain shelf registration rights in respect of any of our common
shares held by them, subject to certain conditions, including those shares acquired pursuant to the July 2014 Transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, in the
event that we register additional common shares for sale to the public following the closing of the July 2014 Transactions, we
are required to give notice to the Oaktree Seller, the Pappas Seller, Monarch and certain affiliates thereof of our intention to
effect such registration and, subject to certain limitations, we are required to include our common shares held by those holders
in such registration. We obtained the consent of the above shareholders before filing <FONT STYLE="background-color: white">Form
F-3 registration statement </FONT>(Registration No. 333-198832)<FONT STYLE="background-color: white"> covering the resale of our
common shares issued under the Purchase Agreement for the Excel Vessels, which was declared effective on February 25, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are required to
bear the registration expenses, other than underwriting discounts and commissions and transfer taxes, if any, attributable to the
sale of any holder&#146;s securities pursuant to the Registration Rights Agreement. The Registration Rights Agreement includes
customary indemnification provisions in favor of the stockholders party thereto, any person who is or might be deemed a control
person (within the meaning of the Securities Act, and the Exchange Act and related parties against certain losses and liabilities
(including reasonable costs of investigation and legal expenses) arising out of or relating to any filing or other disclosure made
by us under the securities laws relating to any such registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 28, 2014,
the Registration Rights Agreement was amended in conjunction with the Excel Transactions. <FONT STYLE="background-color: white">Pursuant
to the terms of this Amendment No. 1 to the Registration Rights Agreement, we have, among other things, filed Form F-3 registration
statement </FONT>(Registration No. 333-198832)<FONT STYLE="background-color: white"> covering the resale of our common shares issued
under the Purchase Agreement for the Excel Vessels, which was declared effective on February 25, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Excel Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 19, 2014,
we entered into the Excel Transactions.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Entities affiliated
with Oaktree and entities affiliated with Angelo, Gordon are holders of 46.7% and 23.6%, respectively, of the outstanding equity
of Excel. The Excel Transactions were approved by the disinterested members of our board of directors, based upon the recommendation
of a transaction committee of disinterested directors, which considered the Excel Transactions on our behalf in coordination with
its management team. The total consideration was determined based on the average of three vessel appraisals by independent vessel
appraisers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At the transfer of
each Excel Vessel, we have paid the cash and share consideration for such Excel Vessel to Excel. Excel uses the cash consideration,
to cause an amount of outstanding indebtedness under its senior secured credit agreement to be repaid, such that all liens and
obligations with respect to the transferred Excel Vessel (or vessel-owning subsidiary) are released upon the transfer to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Vessel Purchase
Agreement contains various customary representations, warranties and covenants. The transfers of the individual Excel Vessels were
made pursuant to customary memoranda of agreement (&#147;MOAs&#148;) for vessel transfers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, subject
to certain limitations, we have agreed to indemnify Excel and various related parties for breaches of certain fundamental representations,
warranties and covenants in the Vessel Purchase Agreement and the MOAs for up to October 2015. Similarly, subject to certain limitations,
Excel has agreed to indemnify us and various related parties for breaches of certain fundamental representations, warranties and
covenants in the Vessel Purchase Agreement and the MOAs up to October 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Excel has agreed that
it will not transfer or otherwise monetize through derivative transactions the &#147;Subject Shares&#148; (as defined below)
until after the Survival Date (subject to a requirement to continue to retain the Subject Shares if there is a pending indemnification
claim against Excel), except that Excel may transfer Subject Shares if it makes appropriate arrangements to escrow a certain minimum
amount of proceeds. &#147;Subject Shares&#148; is defined in the Vessel Purchase Agreement to mean a number of our common shares
(based on the volume-weighted average price for the five consecutive trading days ending on and including the date of the Vessel
Purchase Agreement) that would equal to (x) $2.5 million times (y) the amount of consideration received for all Excel Vessels delivered
to date divided by (z) the total amount of consideration for all Excel Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As outlined above,
in connection with the foregoing Excel Transactions, we entered into an amendment to the Registration Rights Agreement to provide
holders of the Excel Vessel Share Consideration with certain customary demand, shelf and piggyback registration rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Excel Vessel Bridge Facility</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have been using
cash on hand, borrowings under other debt facilities and borrowings under the $231.0 million Excel Vessel Bridge Facility extended
to us by entities affiliated with Oaktree and entities affiliated with Angelo, Gordon to fund the cash consideration for the Excel
Vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unity Holding LLC,
a direct subsidiary of ours, was the borrower under the Excel Vessel Bridge Facility, and each individual vessel-owning subsidiary
was a guarantor. The Excel Vessel Bridge Facility was secured by 33 of the Excel Vessels acquired by us as well as related bank
accounts, earnings and insurance proceeds and the equity of each vessel-owning subsidiary of Unity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Excel Vessel Bridge
Facility contains customary affirmative and negative covenants applicable to Unity and its subsidiaries, including limitations
on the incurrence of additional indebtedness and guarantee obligations, the incurrence of liens, fundamental changes, asset sales,
transactions with affiliates and investments. The Excel Vessel Bridge Facility contains customary events of default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2014, $56.2 million of borrowings were outstanding under the Excel Vessel Bridge Facility. We prepaid, and terminated, the Excel
Vessel Bridge Facility on January 29, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Management agreement
with Maryville Maritime Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Three of the Excel
Vessels (<I>Star Martha</I>, <I>Star Pauline</I> and <I>Star Despoina</I>), which we acquired with attached time charters, were
managed by Maryville Maritime Inc. (&#147;Maryville&#148;), a subsidiary of Excel. Maryville managed these three vessels until
the expiration of their then existing time charter agreements (two of which expired in August 2015 and one which expired in November
2015) at a monthly fee of $17.5 per vessel. Total management fee expense to Maryville for the years ended December 31, 2014 and
2015 was $0.04 million and $0.5 million, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Purchase of Shares in the January 2015
Equity Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the January
2015 Equity Offering, the Significant Shareholders purchased 37,250,418 firm common shares at the public offering price of $5.0
per common share. The aggregate proceeds to us of the January 2015 Equity Offering, net of underwriters&#146; commissions, were
approximately $242.2 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After the January 2015
Equity Offering and assuming all 29,917,312 common shares comprising the Excel Vessel Share Consideration are distributed by Excel
to its equity holders, Oaktree, Angelo, Gordon, Monarch and the Pappas Shareholders, including the Pappas Affiliates, beneficially
owned approximately 58.0%, 5.9%, 5.9% and 7.8%, respectively, of our outstanding common shares. Prior to the January 2015 Equity
Offering, giving effect to the distribution of the Excel Vessel Share Consideration to the Excel equity holders, Oaktree, Angelo,
Gordon, Monarch and the Pappas Shareholders would beneficially own approximately 57.4%, 6.2%, 5.4% and 9.3%, respectively of our
outstanding common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Purchase of Shares in the May 2015 Equity
Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the May
2015 Equity Offering, the Significant Shareholders purchased 21,562,500 firm common shares at the public offering price of $3.20
per common share. The aggregate proceeds to us of the May 2015 Equity Offering, net of underwriters&#146; commissions, were approximately
$175.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After the May 2015
Equity Offering and assuming all 29,917,312 common shares comprising the Excel Vessel Share Consideration are distributed by Excel
to its equity holders, Oaktree, Angelo, Gordon, Monarch and the Pappas Shareholders, including the Pappas Affiliates, beneficially
owned approximately 52.5%, 4.4%, 5.2% and 5.8%, respectively, of our outstanding common shares. Prior to the May 2015 Equity Offering,
giving effect to the distribution of the Excel Vessel Share Consideration to the Excel equity holders, Oaktree, Angelo, Gordon,
Monarch and the Pappas Shareholders would beneficially own approximately 59.1%, 5.9%, 5.9% and 7.2%, respectively of our outstanding
common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All ongoing and future
transactions between us and any of our officers and directors or their respective affiliates, including loans by our officers and
directors, if any, will be on terms believed by us to be no less favorable than are available from unaffiliated third parties,
and such transactions or loans, including any forgiveness of loans, will require prior approval, in each instance by a majority
of our uninterested &#147;independent&#148; directors or the members of our board of directors who do not have an interest in
the transaction, in either case who had access, at our expense, to our attorneys or independent legal counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Interests of Experts and Counsel</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 8.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Consolidated statements and other financial information.</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See Item 18. &#147;Financial
Statements.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2010, we commenced
arbitration proceedings against Ishhar Overseas FZE of Dubai (&#147;Ishhar&#148;) for repudiatory breach of the charter parties
due to the nonpayment of charter hires related to <I>Star Epsilon</I> and <I>Star Kappa</I>. We sought damages for repudiations
of the charter parties due to early redelivery of the vessels as well as unpaid hire of approximately $2.0 million. We pursued
an interim award for such nonpayment of charter hire and an award for the loss of charter hire for the remaining period under the
charter. Claim submissions were filed. As of December 31, 2011, we determined that the above amount was not recoverable and recognized
a provision for doubtful receivables of approximately $2.0 million. Subsequently, a conditional settlement agreement was signed
on September 5, 2012, under which we agreed to receive a cash payment of $5.0 million in seventeen monthly installments. The first
installment of $0.5 million was received upon the execution of the settlement agreement and the next sixteen monthly installments,
varying between $0.3 million and $0.5 million, were received on the last day of each month beginning from September 30, 2012 and
ending on December 31, 2013. During the year ended December 31, 2013, we received $2.5 million, under the settlement agreement,
which is included under &#147;Other operational gain&#148; in our consolidated statement of operations for the year ended December
31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2011,
Korea Line Corporation (&#147;KLC&#148;), charterer at the time of the vessels <I>Star Gamma</I> and <I>Star Cosmo</I>, commenced
rehabilitation proceedings in Seoul, South Korea. Under the rehabilitation plan approved by the KLC&#146;s creditors on October
14, 2011, we were entitled to receive an amount of $6.8 million, of which 37% is to be paid in cash over a period of ten years
and the remaining 63% would be converted into KLC&#146;s shares at a rate of one common share of KLC with par value of KRW 5,000
(approximately $4.25 using the exchange rate as of December 31, 2015, of 0.00085 KRW/usd) for each KRW 100,000 (approx. $85 using
the exchange rate as of December 31, 2015, of 0.00085 KRW/usd) of claim. Based on the terms of the rehabilitation plan, the shares
of KLC were restricted from trading for six months. In addition, we entered into a direct agreement with KLC and received $0.2
million in October 2011 and $0.2 million in January 2013, as part of the due hire for <I>Star Gamma</I>. Finally, we entered into
two tripartite agreements with KLC and the sub-charterers of the vessels <I>Star Gamma</I> and <I>Star Cosmo</I> under which,
we received an amount of $0.1 million from the <I>Star Gamma</I> sub-charter in December 2011 and an amount of $0.1 million in
March 2012 from the <I>Star Cosmo</I> sub-charterer. As of December 31, 2011, we determined that an amount of $0.5 million was
not recoverable due to the long-term time period of KLC&#146;s rehabilitation plan and the uncertainty surrounding the continuation
of KLC&#146;s operations and recognized a corresponding provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 19, 2012,
we received 11,502 shares (46,007 shares before split) of KLC as part of the rehabilitation plan described above for the vessel
<I>Star Gamma</I>, which shares were sold the same date. The cash proceeds from the sale of the respective shares was $0.1 million.
In December 2012, we also received $0.01 million in cash, for <I>Star Gamma</I> and <I>Star Cosmo</I>, pursuant to the terms of
the rehabilitation plan, and the total amount of $0.2 million is included under &#147;Other operational gain&#148; in the consolidated
statements of operations for the year ended December 31, 2012. In October 2013, we received $0.2 million for <I>Star Gamma</I>
and <I>Star Cosmo</I>, pursuant to the terms of the rehabilitation plan, which is included under &#147;Other operational gain&#148;
in the consolidated statements of operations for the year ended December 31, 2013. These amounts have been received as early payment
of the cash component of the rehabilitation plan. The next tranche of 718 shares for the vessel <I>Star Cosmo</I> was released
from lock up on June 4, 2013, and along with the 24,196 and 983 shares issued in November 2013, pursuant to the terms of the rehabilitation
plan for <I>Star Gamma</I> and <I>Star Cosmo</I>, respectively, all of the KLC shares had been sold by December 31, 2015 and an
amount of $0.6 million was included in &#147;Other operational gain&#148; in our statement of operations for the year ended December
31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 13, 2011, <I>Star
Cosmo</I> was retained by the port authority in the Spanish port of Almeria and was released on July 16, 2011. According to the
port authority, the vessel allegedly discharged oily water while sailing in Spanish waters in May 2011, more than two months before
being retained, and related records were allegedly deficient. Administrative investigation commenced locally. We posted a cash
collateral of &euro;340,000 (or $0.4 million using the exchange rate as of December 31, 2015, eur/usd 1.09) to guarantee the payment
of fines that may be assessed in the future and the vessel was released. The cash collateral of &euro;340,000 has been released
to us in March 2012, after being replaced by a P&amp;I Letter of undertaking. The fines were previously reduced by the Spanish
administrative to &euro;260,000 (or $0.3 million using the exchange rate as of December 31, 2015, eur/usd 1.09). Except for &euro;60,000
(approximately $0.1 million using the exchange rate as of December 31, 2015, eur/usd 1.09), which amount was irrevocably adjudicated
in March 2015, the remaining amount of this fine remains subject to adjudication. Up to $1.0 billion of the liabilities associated
with the vessel&#146;s actions, mainly for sea pollution, are covered by our P&amp;I Club Insurance. We have not accrued any amount
for the specific case.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2013, we
commenced arbitration proceedings against Hanjin HHIC-Phil Inc., the shipyard that constructed the <I>Star Polaris</I>, relating
to engine failure the vessel experienced in South Korea. This resulted in 142 off-hire days and the loss of $2.3 million in revenues.
We pursued the compensation for the cost of the repairs and the loss of revenues and following the arbitration hearing in July
2015, the arbitral tribunal issued its partial final award (the &#147;Award&#148;), which found the yard liable for certain aspects
of the claim but did not quantify the Award. We sought permission to appeal the Award before the High Court of United Kingdom,
which procedure is pending. If the permission to appeal is denied, a further hearing
will take place before the same arbitral tribunal to quantify the damages for which the yard is liable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 28, 2013, we
received a letter from the receivers of STX Pan Ocean Co. Ltd. (&#147;STX&#148;), terminating the charter agreement for the vessel
<I>Star Borealis</I>. <I>Star Borealis</I> was on time charter at an average gross daily charter rate of $24,750 for the period
from September 11, 2011 until July 11, 2021. On September 11, 2014, we agreed the settlement of a claim for damages and due hire
brought by our subsidiary, Star Borealis LLC, arising from the repudiation of the <I>Star Borealis</I> charter agreement by the
charterer STX (the &#147;Settled Claim&#148;). Star Borealis LLC negotiated, sold and assigned the rights to the Settled Claim
to an unrelated third party for $8.0 million, which was received on October 3, 2014. We recorded in 2014 a gain of approximately
$9.4 million including the extinguishment of a $1.4 million liability related to the amount of fuel and lubricants remaining on
board of the vessel <I>Star Borealis</I> at the time of the charter repudiation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 23, 2014,
a purported shareholder (the &#147;Plaintiff&#148;) of Star Bulk Carriers Corp. filed a derivative and putative class action
lawsuit in New York state court against our Chief Executive Officer, members of our board of directors and several of our shareholders
and related entities. We have been named as a nominal defendant in the lawsuit. The lawsuit alleges that our acquisition of Oceanbulk
and purchase of several Excel Vessels were the result of self-dealing by various defendants and that we entered into the respective
transactions on unfair terms. The lawsuit further alleges that, as a result of these transactions, several defendants&#146; interests
in Star Bulk Carriers Corp. have increased and that the Plaintiff&#146;s interest in Star Bulk Carriers Corp. has been diluted.
The lawsuit also alleges that our management has engaged in other conduct that has resulted in corporate waste. The lawsuit seeks
cancellation of all shares issued to the defendants in connection with our acquisition of Oceanbulk, unspecified monetary damages,
the replacement of some or all members of our board of directors and of our Chief Executive Officer, and other relief. We believe
the claims are completely without merit, deny them, and intend to vigorously defend against them in court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 24, 2014,
we and the other defendants removed the action to the United States District Court for the Southern District of New York. On March
4, 2015, we and the other defendants moved to dismiss the complaint.&nbsp; On February 18, 2016, the court granted our motion to
dismiss in full and dismissed the matter. On February 24, 2016, Plaintiff filed a notice of appeal.&nbsp; The appeal is pending.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not been involved
in any legal proceedings which we believe may have, or have had, a significant effect on our business, financial position, results
of operations or liquidity, nor are we aware of any proceedings that are pending or threatened which we believe may have a significant
effect on our business, financial position, and results of operations or liquidity. From time to time, we may be subject to legal
proceedings and claims in the ordinary course of business, principally personal injury and property casualty claims. We expect
that these claims would be covered by insurance, subject to customary deductibles. Those claims, even if lacking merit, could result
in the expenditure of significant financial and managerial resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Dividend Policy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We pay dividends, if
any, on a quarterly basis from our operating surplus, in amounts that allowed us to retain a portion of our cash flows to fund
vessel or fleet acquisitions, and for debt repayment and other corporate purposes, as determined by our management and board of
directors. The declaration and payment of dividends will be subject at all times to the discretion of our board of directors. The
timing and amount of dividends will depend on our earnings, financial condition, cash requirements and availability, fleet renewal
and expansion, restrictions in our loan agreements, the provisions of Marshall Islands law affecting the payment of dividends and
other factors. Marshall Islands law generally prohibits the payment of dividends other than from surplus or while a company is
insolvent, or would be rendered insolvent upon the payment of such dividends, or if there is no surplus, dividends may be declared
or paid out of net profits for the fiscal year in which the dividend is declared, and for the preceding fiscal year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that, under
current law, our dividend payments from earnings and profits would constitute &#147;qualified dividend income&#148; and as such
will generally be subject to a preferential United States federal income tax rate (subject to certain conditions) with respect
to non-corporate individual shareholders. Distributions in excess of our earnings and profits will be treated first as a non-taxable
return of capital to the extent of a United States shareholder&#146;s tax basis in its common stock on a Dollar-for-Dollar basis
and thereafter as capital gain. Please see Item 10 &#147;Additional Information&mdash;E. Taxation&#148; for additional information
relating to the tax treatment of our dividend payments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, we are prohibited
from paying dividends under our facilities and did not pay any dividends in 2015. Please see the section of this annual report
entitled &#147;Item 5. Operating and Financial Review and Prospects&mdash;B. Liquidity and Capital Resources.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Significant Changes.</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There have been no
significant changes since the date of the annual consolidated financial statements included in this annual report, other than those
described in Note 20 &#147;Subsequent events&#148; of our annual consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 9.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Offer and Listing</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Offer and Listing Details</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common stock is
traded on the Nasdaq Global Select Market under the symbol &#147;SBLK.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth, for the five most recent fiscal years, the high and low prices for the common shares on the Nasdaq Global Select Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">Fiscal year ended December 31, 2015</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">High</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Low</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 84%; text-align: left">2015</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">6.66</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">0.54</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15.88</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.41</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13.83</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.39</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.70</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.57</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">32.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.03</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth, for each full financial quarter for the two most recent fiscal years, the high and low prices of the common shares
on the Nasdaq Global Select Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">Fiscal year ended December 31, 2015</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">High</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Low</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 84%; text-align: left"><FONT STYLE="font-size: 10pt">1st Quarter ended March 31, 2015&#9;</FONT></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">6.66</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">3.05</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">2nd Quarter ended June 30, 2015&#9;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.13</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.84</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">3rd Quarter ended September 30, 2015&#9;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.42</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">4th Quarter ended December 31, 2015&#9;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.54</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">Fiscal year ended December 31, 2014</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">High</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Low</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 84%; text-align: left"><FONT STYLE="font-size: 10pt">1st Quarter ended March 31, 2014&#9;</FONT></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">15.88</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">10.76</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">2nd Quarter ended June 30, 2014&#9;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.95</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">3rd Quarter ended September 30, 2014&#9;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15.62</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">4th Quarter ended December 31, 2014&#9;</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.41</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth, for the most recent six months, the high and low prices for the common shares on the Nasdaq Global Select Market.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">High</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Low</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">March 2016 (through and including March 21, 2016)&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$0.77</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$0.72</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 84%">February 2016&#9;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">0.63</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 4%; text-align: right">0.39</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>January 2016&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.31</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>December 2015&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.98</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.54</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>November 2015&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.69</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.90</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>October 2015&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.54</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>September 2015&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.58</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 10.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Additional Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Share Capital</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Memorandum and Articles of Association</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Articles of Incorporation
were filed as Exhibit 1 to our Report on Form 6-K filed with the Commission on October 15, 2012 and are incorporated by reference
into Exhibit 1.1 to of this Annual Report. Pursuant to the Articles of Incorporation, we effected a 15-for-1 reverse stock split
of our issued and outstanding common shares, par value $0.01 per share, effective as of October 15, 2012. The reverse stock split
was approved by shareholders at our annual general meeting of shareholders held on September 7, 2012. The reverse stock split reduced
the number of our issued and outstanding common shares from 81,012,403 common shares to 5,400,810 common shares and affected all
issued and outstanding common shares. The number of our authorized common shares was not affected by the reverse split. No fractional
shares were issued in connection with the reverse stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under our Articles
of Incorporation, our authorized capital stock consists of 325,000,000 registered shares of stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">300,000,000 common shares, par value $0.01 per share; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">25,000,000 preferred shares, par value $0.01 per share. Our board of directors shall have the authority
to issue all or any of the preferred shares in one or more classes or series with such voting powers, designations, preferences
and relative, participating, optional or special rights and qualifications, limitations or restrictions as shall be stated in the
resolutions providing for the issue of such class or series of preferred shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this
annual report, we had issued and outstanding 219,105,712 common shares. No preferred shares are issued or outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 21, 2015,
at a special meeting of our shareholders, our shareholders approved an amendment to our Third Amended and Restated Articles of
Incorporation to effect a reverse stock split of our <FONT STYLE="background-color: white">issued and outstanding common shares
by a ratio of not less than one-for-three and not more than one-for-ten, with the exact ratio to be set at a whole number within
this range, to be determined by our Board of Directors or any duly constituted committee thereof, at any time after approval of
the amendment in its discretion, and to authorize the Board of Directors to implement the reverse stock split by filing the amendment
with the Registrar of Corporations of the Republic of the Marshall Islands. As of the date of this filing, our Board of Directors
has not implemented the reverse stock split.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, our Articles
of Incorporation grant the Chairman of our board of directors a tie-breaking vote in the event the directors&#146; vote is evenly
split or deadlocked on a matter presented for vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Articles of Incorporation and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our purpose, as stated
in Section B of our Articles of Incorporation, is to engage in any lawful act or activity for which corporations may now or hereafter
be organized under the Marshall Islands Business Corporations Act (the &#147;MIBCA&#148;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our directors are
elected by a majority of the votes cast by shareholders entitled to vote in an election. Our Articles of Incorporation provide
that cumulative voting shall not be used to elect directors. Our board of directors must consist of at least three members. The
exact number of directors is fixed by a vote of at least 66&#8532;% of the entire board of directors. Our Articles of Incorporation
provide for a staggered board of directors whereby directors shall be divided into three classes: Class A, Class B and Class C,
which shall be as nearly equal in number as possible. Shareholders, acting as at a duly constituted meeting, or by unanimous written
consent of all shareholders, initially designated directors as Class A, Class B or Class C with only one class of directors being
elected in each year and following the initial term for each such class, each class will serve a three-year term. The term of
our board of directors is as follows: (i) the term, of our Class A directors expires in 2017; (ii) the term of Class B directors
expires in 2018; and (iii) the term of Class C director expires in 2016. Each director serves his respective term of office until
his successor has been elected and qualified, except in the event of his death, resignation, removal or the earlier termination
of his term of office. Our board of directors has the authority to fix the amounts which shall be payable to the members of the
board of directors for attendance at any meeting or for services rendered to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Shareholder Meetings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under our Bylaws, annual
shareholder meetings will be held at a time and place selected by our board of directors. The meetings may be held in or outside
of the Marshall Islands. Special meetings may be called by the board of directors, chairman of the board of directors or by the
president. Under the MIBCA, our board of directors may set a record date between 15 and 60 days before the date of any meeting
to determine the shareholders that will be eligible to receive notice and vote at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Dissenters&#146; Rights of Appraisal
and Payment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the MIBCA, our
shareholders have the right to dissent from various corporate actions, including any merger or consolidation, sale of all or substantially
all of our assets not made in the usual course of our business, and receive payment of the fair value of their shares. In the event
of any further amendment of our Articles of Incorporation, a shareholder also has the right to dissent and receive payment for
his or her shares if the amendment alters certain rights in respect of those shares. The dissenting shareholder must follow the
procedures set forth in the MIBCA to receive payment. In the event that we and any dissenting shareholder fail to agree on a price
for the shares, the MIBCA procedures involve, among other things, the institution of proceedings in the high court of the Republic
of the Marshall Islands or in any appropriate court in any jurisdiction in which our shares are primarily traded on a local or
national securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Shareholders&#146; Derivative Actions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the MIBCA, any
of our shareholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided
that the shareholder bringing the action is a holder of common stock both at the time the derivative action is commenced and at
the time of the transaction to which the action relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Indemnification of Officers and Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Bylaws include
a provision that entitles any our directors or officers to be indemnified by us upon the same terms, under the same conditions
and to the same extent as authorized by the MIBCA if the director or officer acted in good faith and in a manner reasonably believed
to be in and not opposed to our best interests, and with respect to any criminal action or proceeding, had no reasonable cause
to believe his or her conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also authorized
to carry directors&#146; and officers&#146; insurance as a protection against any liability asserted against our directors and
officers acting in their capacity as directors and officers regardless of whether we would have the power to indemnify such director
or officer against such liability bylaw or under the provisions of our Bylaws. We believe that these indemnification provisions
and insurance are useful to attract and retain qualified directors and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The indemnification
provisions in our Bylaws may discourage shareholders from bringing a lawsuit against directors for breach of their fiduciary duty.
These provisions may also have the effect of reducing the likelihood of derivative litigation against directors and officers, even
though such an action, if successful, might otherwise benefit us and our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Anti-takeover Provisions of our Charter
Documents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Several provisions
of our Articles of Incorporation and our Bylaws may have anti-takeover effects. These provisions are intended to avoid costly takeover
battles, lessen our vulnerability to a hostile change of control and enhance the ability of our board of directors to maximize
shareholder value in connection with any unsolicited offer to acquire us. However, these anti-takeover provisions, which are summarized
below, could also discourage, delay or prevent (1) the merger or acquisition of our company by means of a tender offer, a proxy
contest or otherwise, that a shareholder may consider in its best interest, and (2) the removal of incumbent officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Blank Check Preferred Stock</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the terms of
our Articles of Incorporation, our board of directors has authority, without any further vote or action by our shareholders, to
issue up to 25.0 million shares of blank check preferred stock. Our board of directors may issue shares of preferred stock on terms
calculated to discourage, delay or prevent a change of control of our company or the removal of our management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Classified Board of Directors</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Articles of Incorporation
provide for a board of directors serving staggered, three-year terms. Approximately one-third of our board of directors will be
elected each year. The classified provision for the board of directors could discourage a third party from making a tender offer
for our shares or attempting to obtain control of our company. It could also delay shareholders who do not agree with the policies
of the board of directors from removing a majority of the board of directors for two years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Election and Removal of Directors</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Articles of Incorporation
prohibit cumulative voting in the election of directors. Our Articles of Incorporation also require shareholders to give advance
written notice of nominations for the election of directors. Our Articles of Incorporation further provide that our directors may
be removed only for cause and only upon affirmative vote of the holders of at least 70% of our outstanding voting shares. These
provisions may discourage, delay or prevent the removal of incumbent officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Limited Actions by Shareholders</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Bylaws provide
that if a quorum is present, and except as otherwise expressly provided by law, the affirmative vote of a majority of the shares
of stock represented at the meeting shall be the act of the shareholders. Shareholders may act by way of written consent in accordance
with the provisions of Section 67 of the MIBCA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Advance Notice Requirements for Shareholder Proposals
and Director Nominations</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Articles of Incorporation
provide that shareholders seeking to nominate candidates for election as directors or to bring business before an annual meeting
of shareholders must provide timely notice of their proposal in writing to the corporate secretary. Generally, to be timely, a
shareholder&#146;s notice must be received at our principal executive offices not less than 120 days nor more than 180 days prior
to the one year anniversary of the preceding year&#146;s annual meeting. Our Articles of Incorporation also specify requirements
as to the form and content of a shareholder&#146;s notice. These provisions may impede shareholders&#146; ability to bring matters
before an annual meeting of shareholders or make nominations for directors at an annual meeting of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Material Contracts</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, we had a number of credit facilities with commercial banks. For a discussion of our facilities, please see the section of
this annual report entitled &#147;Item 5. Operating and Financial Review&mdash;B. Liquidity and Capital Resources&mdash;Senior
Secured Credit Facilities.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, we were also a party to a senior indenture with U.S. Bank National Association, as trustee. For a discussion of the indenture,
please see the section of this annual report entitled &#147;Item 5. Operating and Financial Review&mdash;B. Liquidity and Capital
Resources&mdash;2019 Senior Notes Offering.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, we are a party to a services agreement with Interchart, the Oaktree Shareholders Agreement, the Pappas Shareholders Agreement
and the Registration Rights Agreement. For a discussion of these agreements, please see the section of this annual report entitled
&#147;Item 7. Major Shareholders and Related Party Transactions&mdash;B. Related Party Transactions.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have no other material
contracts, other than contracts entered into in the ordinary course of business, to which we are a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">Exchange Controls</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the laws of the
Marshall Islands, Liberia, Cyprus and Malta, which are the countries of incorporation of the Company and its subsidiaries,
there are currently no restrictions on the export or import of capital, including foreign exchange controls or restrictions that
affect the remittance of dividends, interest or other payments to non-resident holders of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">E.</FONT></TD><TD STYLE="text-align: justify">Taxation</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
discussion of the material Marshall Islands and U.S. federal income tax regimes relevant to an investment decision with respect
to our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to
the tax consequences discussed below, we may be subject to tax in one or more other jurisdictions, including Malta,&nbsp;where
we conduct activities. We expect that the amount of any such tax imposed upon our operations for year 2015 in these jurisdictions,
including Malta, will be immaterial.</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Marshall Islands Tax Consequences</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are incorporated
in the Marshall Islands. Under current Marshall Islands law, we are not subject to tax on income or capital gains, and no Marshall
Islands withholding tax will be imposed upon payments of dividends by us to our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Material United States Federal Income
Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
discussion of the material U.S. federal income tax consequences to us of our activities and to our shareholders of the ownership
and disposition of our common shares. This discussion is not a complete analysis or listing of all of the possible tax consequences
to our shareholders of the ownership and disposition of our common shares and does not address all tax considerations that might
be relevant to particular holders in light of their personal circumstances or to persons that are subject to special tax rules.
In particular, the information set forth below deals only with shareholders that will hold common shares as capital assets for
U.S. federal income tax purposes (generally, property held for investment) and that do not own, and are not treated as owning,
at any time, 10% or more of the total combined voting power of all classes of our stock entitled to vote. In addition, this description
of the material U.S. federal income tax consequences does not address the tax treatment of special classes of shareholders, such
as (i) financial institutions, (ii) regulated investment companies, (iii) real estate investment trusts, (iv) tax-exempt entities,
(iv) insurance companies, (v) persons holding the common shares as part of a hedging, integrated or conversion transaction, constructive
sale or &#147;straddle,&#148; (vi) persons that acquired common shares through the exercise or cancellation of employee stock
options or otherwise as compensation for their services, (vii) U.S. expatriates, (viii) persons subject to the alternative minimum
tax or the net investment income tax, (ix) dealers or traders in securities or currencies and (x) U.S. shareholders whose functional
currency is not the U.S. dollar. You are encouraged to consult your own tax advisors concerning the overall tax consequences arising
in your own particular situation under U.S. federal, state, local or non-U.S. law of the ownership of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>U.S. Federal Income Tax Considerations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
discussion of the material U.S. federal income tax consequences to us of our activities and to U.S. Holders and Non-U.S. Holders
(each as defined below) of the ownership and disposition of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following discussion
is based upon the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), U.S. judicial decisions, administrative pronouncements
and existing and proposed Treasury Regulations, all as in effect as of the date hereof. All of the preceding authorities are subject
to change, possibly with retroactive effect, so as to result in U.S. federal income tax consequences different from those discussed
below. We have not requested, and will not request, a ruling from the U.S. Internal Revenue Service (the &#147;IRS&#148;) with
respect to any of the U.S. federal income tax consequences described below, and as a result there can be no assurance that the
IRS will not disagree with or challenge any of the conclusions we have reached and describe herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This summary does not
address estate and gift tax consequences or tax consequences under any state, local or non-U.S. laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tax Classification of the Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Star Maritime was a
Delaware corporation which merged into the Company pursuant to the Redomiciliation Merger as more specifically described in Item
4.A &#147;Information on the Company &ndash; History and development of the Company.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7874(b) of
the Code, or &#147;Section 7874(b),&#148; provides that a corporation organized outside the United States, such as the Company,
which acquires (pursuant to a &#147;plan&#148; or a &#147;series of related transactions&#148;) substantially all of the assets
of a corporation organized in the United States, such as Star Maritime, will be treated as a U.S. domestic corporation for U.S.
federal income tax purposes if shareholders of the U.S. corporation whose assets are being acquired own at least 80% of the non-U.S.
acquiring corporation after the acquisition. If Section 7874(b) were to apply to Star Maritime and the Redomiciliation Merger,
then the Company, as the surviving entity of the Redomiciliation Merger, would be subject to U.S. federal income tax as a U.S.
domestic corporation on its worldwide income after the Redomiciliation Merger. In addition, as a U.S. domestic corporation, any
dividends paid by us to a Non-U.S. Holder, as defined below, would be subject to a U.S. federal income tax withholding at the rate
of 30% or such lower rate as provided by an applicable U.S. income tax treaty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After the completion
of the Redomiciliation Merger, the shareholders of Star Maritime owned less than 80% of the Company. Star Maritime received an
opinion of its counsel, Seward &amp; Kissel LLP or &#147;Seward &amp; Kissel&#148;, that Star Bulk should not be subject to Section
7874(b) after the Redomiciliation Merger. Based on the structure of the Redomiciliation Merger, the Company believes that it is
not subject to U.S. federal income tax as a U.S. domestic corporation on its worldwide income for taxable years after the Redomiciliation
Merger. However, there is no authority directly addressing the application of Section 7874(b) to a transaction such as the Redomiciliation
Merger where shares in a foreign corporation, such as the Company, are issued concurrently with (or shortly after) a merger. In
particular, since there is no authority directly applying the &#147;series of related transactions&#148; or &#147;plan&#148;
provisions to the post-acquisition stock ownership requirements of Section 7874(b), there is no assurance that the U.S. Internal
Revenue Service (IRS) or a court will agree with Seward &amp; Kissel&#146;s opinion on this matter. Moreover, Star Maritime has
not sought a ruling from the IRS on this point. Therefore, there is no assurance that the IRS would not seek to assert that the
Company is subject to U.S. federal income tax on its worldwide income after the Redomiciliation Merger, although the Company believes
that such an assertion should not be successful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The remainder of this
discussion assumes that the Company will not be treated as a U.S. domestic corporation for any taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>U.S. Federal Income Taxation of the
Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Tax Classification
of the Company</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are treated as a
corporation for U.S. federal income tax purposes. As a result, U.S. Holders will not be directly subject to U.S. federal income
tax on our income, but rather will be subject to U.S. federal income tax on distributions received from us and dispositions of
common shares as described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Federal
Income Taxation of Operating Income: In General</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We anticipate that
we will earn substantially all our income from the hiring or leasing of vessels for use mostly on a voyage or time charter basis
or from the performance of services directly related to those uses, all of which we refer to as &#147;shipping income.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless a non-U.S. corporation
qualifies for an exemption from U.S. federal income taxation under Section 883 of the Code, such corporation will be subject to
U.S. federal income taxation on its &#147;shipping income&#148; that is treated as derived from sources within the United States.
For U.S. federal income tax purposes, 50% of shipping income that is attributable to transportation that begins or ends, but that
does not both begin and end, in the United States constitutes income from sources within the United States (&#147;United States
source gross transportation income&#148; or &#147;USSGTI&#148;), and, in the absence of exemption from tax under Section 883
of the Code, such USSGTI generally will be subject to a 4% U.S. federal income tax imposed without allowance for deductions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Shipping income of
a non-U.S. corporation attributable to transportation that both begins and ends in the United States is considered to be derived
entirely from sources within the United States. However, U.S. law prohibits non-U.S. corporations, such as us, from engaging in
transportation that produces income considered to be derived entirely from U.S. sources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Shipping income of
a non-U.S. corporation attributable to transportation exclusively between two non-U.S. ports will be considered to be derived entirely
from sources outside the United States. Shipping income of a non-U.S. corporation derived from sources outside the United States
will not be subject to any U.S. federal income tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Exemption of
Operating Income from U.S. Federal Income Taxation</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Section 883 of
the Code and the Treasury Regulations thereunder, a non-U.S. corporation will be exempt from U.S. federal income taxation on its
U.S. source shipping income if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) it is organized
in a country that grants an &#147;equivalent exemption&#148; from tax to corporations organized in the United States in respect
of each category of shipping income for which exemption is being claimed under Section 883 of the Code (a &#147;qualified foreign
country&#148;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) one of the following
tests is met: (A) more than 50% of the value of its shares is beneficially owned, directly or indirectly, by &#147;qualified shareholders,&#148;
which term includes individuals that (i) are &#147;residents&#148; of qualified foreign countries and (ii) comply with certain
substantiation requirements (the &#147;50% Ownership Test&#148;); (B) it is a &#147;controlled foreign corporation&#148; and it
satisfies an ownership test (the &#147;CFC Test&#148;); or (C) its shares are &#147;primarily and regularly traded on an established
securities market&#148; in a qualified foreign country or in the United States (the &#147;Publicly-Traded Test&#148;). We do not
currently anticipate circumstances under which we would be able to satisfy the 50% Ownership Test or the CFC Test. Our ability
to satisfy the Publicly-Traded Test is described below. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Republic of the
Marshall Islands has been officially recognized by the IRS as a qualified foreign country that grants the requisite &#147;equivalent
exemption&#148; from tax in respect of each category of shipping income we earn and currently expect to earn in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that we
satisfy the Publicly Traded Test for 2015, and accordingly, we believe that we qualify for exemption under Section 883 for 2015;
however, there are factual circumstances beyond our control that could cause us to lose the benefit if this tax exemption for subsequent
tax years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Publicly-Traded
Test.</I></B> The Treasury Regulations under Section 883 of the Code provide, in pertinent part, that shares of a non-U.S. corporation
will be considered to be &#147;primarily traded&#148; on an established securities market in a country if the number of shares
of each class of stock that are traded during any taxable year on all established securities markets in that country exceeds the
number of shares in each such class that are traded during that year on established securities markets in any other single country.
Our common stock is &#147;primarily traded&#148; on the NASDAQ Global Select Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Treasury
Regulations, stock of a non-U.S. corporation will be considered to be &#147;regularly traded&#148; on an established securities
market if (1) one or more classes of stock of the corporation that represent more than 50% of the total combined voting power of
all classes of stock of the corporation entitled to vote and of the total value of the stock of the corporation, are listed on
such market and (2) (A) such class of stock is traded on the market, other than in minimal quantities, on at least 60 days during
the taxable year or one-sixth of the days in a short taxable year and (B) the aggregate number of shares of such class of stock
traded on such market during the taxable year must be at least 10% of the average number of shares of such class of stock outstanding
during such year or as appropriately adjusted in the case of a short taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the
foregoing, the Treasury Regulations provide, in pertinent part, that a class of shares will not be considered to be &#147;regularly
traded&#148; on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding
shares of such class are owned, actually or constructively under specified share attribution rules, on more than half the days
during the taxable year by persons that each own 5% or more of the vote and value of such class of outstanding stock (the &#147;5%
Override Rule&#148;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of determining
the persons that actually or constructively own 5% or more of the vote and value of our common shares (&#147;5% Shareholders&#148;),
the Treasury Regulations permit us to rely on those persons that are identified on Schedule 13G and Schedule 13D filings with the
U.S. Securities and Exchange Commission, as owning 5% or more of our common shares. The Treasury Regulations further provide that
an investment company which is registered under the Investment Company Act of 1940, as amended, will not be treated as a 5% Shareholder
for such purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event the 5%
Override Rule is triggered, the Treasury Regulations provide that the 5% Override Rule will nevertheless not apply if we can establish
that within the group of 5% Shareholders, qualified shareholders (as defined for purposes of Section 883) own sufficient number
of shares to preclude non-qualified shareholders in such group from owning 50% or more of the total value of the class of stock
of the closely held block that is a part of our common shares for more than half the number of days during the taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 11, 2014,
pursuant to the transaction with Oceanbulk discussed above, Oaktree and its affiliates became shareholders, in the aggregate,
of 50% or more of the vote and value of our common shares. We did not believe that we were subject to the 5% Override Rule
for 2014, because, among other reasons, the Oceanbulk transaction occurred more than halfway through&nbsp;2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on information
contained in Schedules 13G and 13D filing with the U.S. Securities and Exchange Commission, we believe that we are not subject
to the 5% Override Rule and we satisfy the Publicly-Traded Test for 2015. Specifically, while Oaktree and its affiliated entities
collectively owned more than 50% of our outstanding common shares throughout 2015, Oaktree affiliated entities that were 5% Shareholders
did not own, in the aggregate, 50% or more of our outstanding common shares for more than half of the days in 2015. Accordingly,
we believe that we qualify for exemption under Section 883 for 2015.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP></SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="background-color: white">There
are, however, factual circumstances beyond our control that could cause us to lose the benefit of this tax exemption and thereby
become subject to U.S. federal income tax on our U.S. source shipping income in our subsequent taxable years. For example, we would
no longer qualify for exemption under Section 883 of the Code for a subsequent taxable year if non-qualified shareholders with
a five percent or greater interest in our common shares owned, in the aggregate, 50% or more of our outstanding common shares for
more than half of the days during such taxable year. Due to the factual nature of the issues involved, it is possible that our
tax-exempt status may change.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Taxation in
Absence of Section 883 Exemption</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For any taxable year
in which we are not eligible for the benefits of Section 883 exemption, our USSGTI will be subject to a 4% tax imposed by Section
887 of the Code without the benefit of deductions to the extent that such income is not considered to be &#147;effectively connected&#148;
with the conduct of a U.S. trade or business, as described below. Since under the sourcing rules described above, no more than
50% of our shipping income would be treated as derived from sources within the United States, the maximum effective rate of U.S.
federal income tax on our shipping income would never exceed 2% under this regime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the extent our shipping
income derived from sources within the United States is considered to be &#147;effectively connected&#148; with the conduct of
a U.S. trade or business, as described below, any such &#147;effectively connected&#148; shipping income, net of applicable deductions,
would be subject to U.S. federal income tax, currently imposed at rates of up to 35%. In addition, we would generally be subject
to the 30% &#147;branch profits&#148; tax on earnings effectively connected with the conduct of such trade or business, as determined
after allowance for certain adjustments, and on certain interest paid or deemed paid attributable to the conduct of our U.S. trade
or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our shipping income
would be considered &#147;effectively connected&#148; with the conduct of a U.S. trade or business only if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) we have, or are
considered to have, a fixed place of business in the United States involved in the earning of U.S. source shipping income; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) substantially all
of our U.S. source shipping income is attributable to regularly scheduled transportation, such as the operation of a vessel that
follows a published schedule with repeated sailings at regular intervals between the same points for voyages that begin or end
in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not intend to
have, or permit circumstances that would result in having, any vessel sailing to or from the United States on a regularly scheduled
basis. Based on the foregoing and on the expected mode of our shipping operations and other activities, it is anticipated that
none of our shipping income will be &#147;effectively connected&#148; with the conduct of a U.S. trade or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Taxation
of Gain on Sale of Vessels</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Regardless of whether
we qualify for exemption under Section 883, we will not be subject to U.S. federal income tax with respect to gain realized on
a sale of a vessel, provided that (i) the sale is considered to occur outside of the United States under U.S. federal income tax
principles and (ii) such sale is not attributable to an office or other fixed place of business in the United States. In general,
a sale of a vessel will be considered to occur outside of the United States for this purpose if title to the vessel, and risk of
loss with respect to the vessel, pass to the buyer outside of the United States. We intend to conduct our operations so that the
gain on any sale of a vessel by us will not be taxable in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>U.S. Federal Income Taxation of U.S.
Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used herein, a &#147;U.S.
Holder&#148; is a beneficial owner of a common share that is: (1) a citizen of or an individual resident of the United States,
as determined for U.S. federal income tax purposes; (2) a corporation (or other entity treated as a corporation for U.S. federal
income tax purposes) created or organized under the laws of the United States or any state thereof or the District of Columbia;
(3) an estate the income of which is subject to U.S. federal income taxation regardless of its source; or (4) a trust (A) if a
court within the United States is able to exercise primary jurisdiction over its administration and one or more U.S. persons have
authority to control all substantial decisions of the trust or (B) that has a valid election in effect under applicable Treasury
Regulations to be treated as a U.S. person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a pass-through entity,
including a partnership or other entity classified as a partnership for U.S. federal income tax purposes, is a beneficial owner
of our common shares, the U.S. federal income tax treatment of an owner or partner will generally depend upon the status of such
owner or partner and upon the activities of the pass-through entity. Owners or partners of a pass-through entity that is a beneficial
owner of common shares are encouraged to consult their tax advisors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Holders are urged
to consult their tax advisors as to the particular consequences to them under U.S. federal, state and local, and applicable non-U.S.
tax laws of the ownership and disposition of common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Distributions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the discussion
of passive foreign investment companies (&#147;PFICs&#148;) below, any distributions made by us with respect to our common shares
to a U.S. Holder will generally constitute foreign-source dividends to the extent of our current or accumulated earnings and profits,
as determined under U.S. federal income tax principles. Distributions in excess of such earnings and profits will be treated first
as a nontaxable return of capital to the extent of the U.S. Holder&#146;s tax basis in its common shares and thereafter as capital
gain. Because we are not a U.S. corporation, U.S. Holders that are corporations will not be entitled to claim a dividends received
deduction with respect to any distributions they receive from us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If, as expected, the
common shares are readily tradable on an established securities market in the United States within the meaning of the Code and
if certain holding period and other requirements (including a requirement that we are not a PFIC in the year of the dividend or
the preceding year) are met, dividends received by non-corporate U.S. Holders will be &#147;qualified dividend income&#148; to
such U.S. Holders. Qualified dividend income received by non-corporate U.S. Holders (including an individual) will be subject to
U.S. federal income tax at preferential rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sale, Exchange
or Other Disposition of Common Shares</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the discussion
of PFICs below, a U.S. Holder generally will recognize capital gain or loss upon a sale, exchange or other disposition of our common
shares in an amount equal to the difference between the amount realized by the U.S. Holder from such sale, exchange or other disposition
and the U.S. Holder&#146;s tax basis in such shares. Such gain or loss will be treated as long-term capital gain or loss if the
U.S. Holder&#146;s holding period is greater than one year at the time of the sale, exchange or other disposition. Such capital
gain or loss will generally be treated as U.S. source income or loss, as applicable, for U.S. foreign tax credit purposes. Long-term
capital gains of certain non-corporate U.S. Holders are currently eligible for reduced rates of taxation. A U.S. Holder&#146;s
ability to deduct capital losses is subject to certain limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Passive Foreign
Investment Company Considerations</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing discussion
assumes that we are not, and will not be, a PFIC. If we are classified as a PFIC in any year during which a U.S. Holder owns our
common shares, the U.S. federal income tax consequences to such U.S. Holder of the ownership and disposition of common shares could
be materially different from those described above. A non-U.S. corporation will be considered a PFIC for any taxable year in which
(i) 75% or more of its gross income is &#147;passive income&#148; (e.g., dividends, interest, capital gains and rents derived
other than in the active conduct of a rental business) or (ii) 50% or more of the average value of its assets produce (or are held
for the production of) &#147;passive income.&#148; For this purpose, we will be treated as earning and owning our proportionate
share of the income and assets, respectively, of any of our subsidiaries that are treated as pass-through entities for U.S. federal
income tax purposes. Further, we will be treated as holding directly our proportionate share of the assets and receiving directly
the proportionate share of the income of corporations of which we own, directly or indirectly, at least 25%, by value. For purposes
of determining our PFIC status, income earned by us in connection with the performance of services would not constitute passive
income. By contrast, rental income would generally constitute &#147;passive income&#148; unless we were treated under specific
rules as deriving our rental income in the active conduct of a trade or business. We intend to take the position that income we
derive from our voyage and time chartering activities is services income, rather than rental income, and accordingly, that such
income is not passive income for purposes of determining our PFIC status. We believe that there is substantial legal authority
supporting our position consisting of case law and IRS pronouncements concerning the characterization of income derived from voyage
and time charters as services income for other tax purposes. Additionally, we believe that our contracts for newbuilding vessels
are not assets held for the production of passive income, because we intend to use these vessels for voyage and time chartering
activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assuming that it is
proper to characterize income from our voyage and time chartering activities as services income and based on the expected composition
of our income and assets, we believe that we currently are not a PFIC, and we do not expect to become a PFIC in the future. However,
our characterization of income from voyage and time charters and of contracts for newbuilding vessels is not free from doubt. Moreover,
the determination of PFIC status for any year must be made only on an annual basis after the end of such taxable year and will
depend on the composition of our income, assets and operations during such taxable year. Because of the above described uncertainties,
there can be no assurance that the IRS will not challenge the determination made by us concerning our PFIC status or that we will
not be a PFIC for any taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we were treated
as a PFIC for any taxable year during which a U.S. Holder owns common shares, the U.S. Holder would be subject to special adverse
rules (described in &#147;&mdash;<I>Taxation of U.S. Holders Not Making a Timely QEF or Mark-to-Market Election</I>&#148;) unless
the U.S. Holder makes a timely election to treat us as a &#147;Qualified Electing Fund&#148; (a &#147;QEF election&#148;) or
marks its common shares to market, as discussed below. We intend to promptly notify our shareholders if we determine that we are
a PFIC for any taxable year. A U.S. Holder generally will be required to file IRS Form 8621 if such U.S. Holder owns common shares
in any year in which we are classified as a PFIC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Taxation of U.S.
Holders Making a Timely QEF Election.</I></B> If a U.S. Holder makes a timely QEF election, such U.S. Holder must report for U.S.
federal income tax purposes its pro-rata share of our ordinary earnings and net capital gain, if any, for each of our taxable years
during which we are a PFIC that ends with or within the taxable year of such U.S. Holder, regardless of whether distributions were
received from us by such U.S. Holder. No portion of any such inclusions of ordinary earnings will be treated as &#147;qualified
dividend income.&#148; Net capital gain inclusions of certain non-corporate U.S. Holders might be eligible for preferential capital
gains tax rates. The U.S. Holder&#146;s adjusted tax basis in the common shares will be increased to reflect any income included
under the QEF election. Distributions of previously taxed income will not be subject to tax upon distribution but will decrease
the U.S. Holder&#146;s tax basis in the common shares. An electing U.S. Holder would not, however, be entitled to a deduction
for its pro-rata share of any losses that we incur with respect to any taxable year. An electing U.S. Holder would generally recognize
capital gain or loss on the sale, exchange or other disposition of our common shares. A U.S. Holder would make a timely QEF election
for our common shares by filing IRS Form 8621 with its U.S. federal income tax return for the first year in which it held such
shares when we were a PFIC. If we determine that we are a PFIC for any taxable year, we would provide each U.S. Holder with all
necessary information in order to make the QEF election described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Taxation of U.S.
Holders Making a &#147;Mark-to-Market&#148; Election.</I></B> Alternatively, if we were treated as a PFIC for any taxable year
and, as we anticipate, our common shares are treated as &#147;marketable stock,&#148; a U.S. Holder would be allowed to make
a &#147;mark-to-market&#148; election with respect to our common shares. If that election is properly and timely made, the U.S.
Holder generally would include as ordinary income in each taxable year that we are a PFIC the excess, if any, of the fair market
value of the common shares at the end of the taxable year over such U.S. Holder&#146;s adjusted tax basis in the common shares.
The U.S. Holder would also be permitted an ordinary loss in each such year in respect of the excess, if any, of the U.S. Holder&#146;s
adjusted tax basis in the common shares over their fair market value at the end of the taxable year, but only to the extent of
the net amount previously included in income as a result of the mark-to-market election. A U.S. Holder&#146;s tax basis in its
common shares would be adjusted to reflect any such income or loss amount recognized. Any gain realized on the sale, exchange or
other disposition of our common shares in a year that we are a PFIC would be treated as ordinary income, and any loss realized
on the sale, exchange or other disposition of the common shares in such a year would be treated as ordinary loss to the extent
that such loss does not exceed the net mark-to-market gains previously included by the U.S. Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Taxation of U.S.
Holders Not Making a Timely QEF or Mark-to-Market Election.</I></B> If we were treated as a PFIC for any taxable year, a U.S. Holder
that does not make either a QEF election or a &#147;mark-to-market&#148; election (a &#147;Non-Electing Holder&#148;) would
be subject to special rules with respect to (1) any excess distribution (i.e., the portion of any distributions received by the
Non-Electing Holder on the common shares in a taxable year in excess of 125% of the average annual distributions received by the
Non-Electing Holder in the three preceding taxable years, or, if shorter, the Non-Electing Holder&#146;s holding period for the
common shares), and (2) any gain realized on the sale, exchange or other disposition of our common shares. Under these special
rules:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) the excess distribution
or gain would be allocated ratably over the Non-Electing Holder&#146;s aggregate holding period for the common shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) the amount allocated
to the current taxable year, and any taxable year prior to the first taxable year in which we were a PFIC, would be taxed as ordinary
income and would not be &#147;qualified dividend income&#148;; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(3) the amount allocated
to each of the other taxable years would be subject to tax at the highest rate of tax in effect for the applicable class of taxpayer
for that year, and an interest charge for the deemed tax deferral benefit would be imposed with respect to the resulting tax attributable
to each such other taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Holders are urged
to consult their tax advisors concerning the U.S. federal income tax consequences of holding common shares if we are considered
a PFIC in any taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>U.S. Federal Income Taxation of Non-U.S.
Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used herein, a &#147;Non-U.S.
Holder&#148; is any beneficial owner of a common share that is, for U.S. federal income tax purposes, an individual, corporation,
estate or trust and that is not a U.S. Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a pass-through entity,
including a partnership or other entity classified as a partnership for U.S. federal income tax purposes, is a beneficial owner
of our common shares, the U.S. federal income tax treatment of an owner or partner will generally depend upon the status of such
owner or partner and upon the activities of the pass-through entity. Owners or partners of a pass-through entity that is a beneficial
owner of common shares are encouraged to consult their tax advisors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Distributions</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A Non-U.S. Holder generally
will not be subject to U.S. federal income or withholding tax on dividends received from us with respect to our common shares,
unless that income is effectively connected with the Non-U.S. Holder&#146;s conduct of a trade or business in the United States.
In general, if the Non-U.S. Holder is entitled to the benefits of an applicable U.S. income tax treaty with respect to those dividends,
that income is taxable only if it is attributable to a permanent establishment maintained by the Non-U.S. Holder in the United
States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sale, Exchange
or Other Disposition of Common Shares</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A Non-U.S. Holder generally
will not be subject to U.S. federal income or withholding tax on any gain realized upon the sale, exchange or other disposition
of our common shares, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) the gain is effectively
connected with the Non-U.S. Holder&#146;s conduct of a trade or business in the United States; in general, in the case of a Non-U.S.
Holder entitled to the benefits of an applicable U.S. income tax treaty with respect to that gain, that gain is taxable only if
it is attributable to a permanent establishment maintained by the Non-U.S. Holder in the United States; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) the Non-U.S. Holder
is an individual who is present in the United States for 183 days or more during the taxable year of disposition and other conditions
are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Income or Gains
Effectively Connected with a U.S. Trade or Business</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the Non-U.S. Holder
is engaged in a U.S. trade or business for U.S. federal income tax purposes, dividends on the common shares and gain from the sale,
exchange or other disposition of the shares, that is effectively connected with the conduct of that trade or business (and, if
required by an applicable U.S. income tax treaty, is attributable to a U.S. permanent establishment), will generally be subject
to regular U.S. federal income tax in the same manner as discussed in the previous section relating to the taxation of U.S. Holders.
In addition, in the case of a corporate Non-U.S. Holder, its earnings and profits that are attributable to the effectively connected
income, which are subject to certain adjustments, may be subject to an additional U.S. federal branch profits tax at a rate of
30%, or at a lower rate as may be specified by an applicable U.S. income tax treaty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Information Reporting and Backup Withholding</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Information reporting
might apply to dividends paid in respect of common shares and the proceeds from the sale, exchange or other disposition of common
shares within the United States. Backup withholding (currently at a rate of 28%) might apply to such payments made to a U.S. Holder
unless the U.S. Holder furnishes its taxpayer identification number, certifies that such number is correct, certifies that such
U.S. Holder is not subject to backup withholding and otherwise complies with the applicable requirements of the backup withholding
rules. Certain U.S. Holders, including corporations, are generally not subject to backup withholding and information reporting
requirements, if they properly demonstrate their eligibility for exemption. United States persons who are required to establish
their exempt status generally must provide IRS Form W-9 (Request for Taxpayer Identification Number and Certification). Each Non-U.S.
Holder must submit an appropriate, properly completed IRS Form W-8 certifying, under penalties of perjury, to such Non-U.S. Holder&#146;s
non-U.S. status in order to establish an exemption from backup withholding and information reporting requirements. Backup withholding
is not an additional tax. Any amounts withheld under the backup withholding rules will be allowed as a refund or credit against
your U.S. federal income tax liability, provided that the required information is furnished to the IRS in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain U.S. Holders
who are individuals are required to report information relating to our common shares, subject to certain exceptions (including
an exception for common shares held in accounts maintained by certain financial institutions). U.S. Holders are urged to consult
their tax advisors regarding their reporting requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">F.</FONT></TD><TD STYLE="text-align: justify">Dividends and paying agents</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">G.</FONT></TD><TD STYLE="text-align: justify">Statement by experts</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">H.</FONT></TD><TD STYLE="text-align: justify">Documents on display</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You may read and copy
any document that we file, including this annual report, and obtain copies at prescribed rates from the Commission&#146;s Public
Reference Room at 100 F Street, N.E., Washington, D.C. 20549. You may obtain information on the operation of the Public Reference
Room by calling 1 (800) SEC-0330. The Commission maintains a website (http://www.sec.gov) that contains reports, proxy and information
statements and other information regarding issuers that file electronically with the Commission. Our filings are also available
on our website at http://www.starbulk.com. The information on our website, however, is not, and should not be deemed to be a part
of this annual report. You may also obtain copies of the incorporated documents, without charge, upon written or oral request to
Star Bulk Carriers Corp., c/o Star Bulk Management Inc., 40 Agiou Konstantinou Str., Maroussi, 15124, Athens, Greece.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">I.</FONT></TD><TD STYLE="text-align: justify">Subsidiary information</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 11.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Quantitative and Qualitative Disclosures about Market Risk</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interest Rates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our exposure to market
risk for changes in interest rate relates primarily to our long-term debt. The international dry bulk industry is a capital intensive
industry, requiring significant amounts of investment. Much of this investment is provided in the form of secured long-term debt.
Our debt contains interest rates that fluctuate with LIBOR. Significant increases in interest rates could adversely affect our
operating margins, results of operations and our ability to service our debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From time to time,
we may take positions in interest rate derivative contracts to manage interest costs and risk associated with changing interest
rates with respect to our variable interest loans and credit facilities. Generally, our approach is to economically hedge a portion
of the floating-rate debt associated with our vessels. We manage the exposure to the rest of our debt based on our outlook for
interest rates and other factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are exposed to credit
loss in the event of non-performance by the counterparties to the interest rate derivative contracts. In order to minimize counterparty
risk, we only enter into derivative transactions with counterparties that bear an investment grade rate at the time of the transaction.
In addition, to the extent possible and practical, we enter into interest rate derivative contracts with different counterparties
to reduce concentration risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2013, we entered
into two interest rate derivative contracts with Credit Agricole Corporate and Investment Bank (the &#147;Credit Agricole Swaps&#148;)
to fix forward our floating interest rate liabilities under the two tranches of the Credit Agricole $70.0 million Facility. The
Credit Agricole Swaps were based on an amortizing notional amount beginning from $26.8 million and $28.6 million, for the <I>Star
Borealis</I> and <I>Star Polaris</I> tranches, respectively. The Credit Agricole Swaps came into effect in November and August
2014, and will mature in August and November 2018, for the <I>Star Borealis</I> and <I>Star Polaris</I> tranches, respectively.
Under the terms of the Credit Agricole Swaps, we pay on a quarterly basis a fixed rate of 1.720% and 1.705% per annum for the <I>Star
Borealis</I> and <I>Star Polaris</I> tranches, 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 December 31, 2015, the notional amount
of these swaps was $24.9 million and $26.1 million, for <I>Star Borealis</I> and <I>Star Polaris</I>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, on April
28, 2014, we entered into two interest rate derivative contracts (the &#147;HSH Swaps&#148;) to fix forward 50% of our floating
interest rate derivative contracts for the HSH Nordbank $35.0 million Facility. The HSH Swaps came into effect in September 2014
and mature in September 2018. Under the terms of the HSH Swaps, we pay 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 December 31, 2015, the notional amount of these swaps was $15.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Up to August 31, 2014,
because the Credit Agricole Swaps and the HSH Swaps were not designated as accounting hedges, changes in their fair value at each
reporting period up to that date were reported in earnings as a loss under &#147;Gain/(Loss) on derivative financial instruments,
net&#148; in the consolidated statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 31, 2014,
we designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC Topic 815, &#147;Derivatives
and Hedging.&#148; Accordingly, the effective portion of these cash flow hedges, from September 1, 2014 to December 31, 2014,
was 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;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the Merger,
we 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;). The Goldman Sachs Swaps came into effect on October 1, 2014 and mature on April 1, 2018.
Under their terms, Oceanbulk Shipping makes quarterly payments to the counterparty at fixed rates ranging between 1.79% to 2.07%
per annum, based on an aggregate notional amount beginning at $186.3 million on July 1, 2015 and increasing up to $461.3 million
on October 1, 2015 and thereafter decreasing by $9.84 million each quarter. The counterparty makes quarterly floating rate payments
at three-month LIBOR to Oceanbulk Shipping based on the same notional amount. Upon the completion of the Merger, on July 11, 2014,
we re-designated the Goldman Sachs Swaps as cash flow hedges in accordance with ASC Topic 815. Accordingly, the effective portion
of these cash flow hedges, from that date to December 31, 2014, was reported in &#147;Accumulated other comprehensive income/
(loss)&#148;. As of December 31, 2015 the notional amount of these swaps was $451.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The weighted average
fixed rate, as of December 31, 2015, for all the nine interest rate derivative contracts we had effective at that time was 1.8%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Due to (i) changes
in the timing of delivery of some of our 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 our vessels in 2015 whose loans had been designated as hedged items,
we determined that 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. Consequently, the hedging relationship related to the Goldman Sachs Swaps no
longer qualifies for special hedge accounting, and as of April 1, 2015, we 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 income/ (loss)&#148; with respect to the corresponding swaps will be reclassified
to earnings when the hedged forecasted transaction impacts our earnings (i.e., when the hedged loan interest is incurred), except
for $1.8 million related to loans of sold vessels that were written down to earnings in the year ended December 31, 2015, since
the forecasted transaction attributable to these vessels is no longer expected to occur. The unamortized balance of &#147;Accumulated
other comprehensive income/ (loss)&#148; with respect to the corresponding swaps as of December 31, 2015 was $1.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the year ended
December 31, 2015, we recorded a loss on interest rate derivative contracts of $3.3 million in &#147;Gain / (Loss) on derivative
financial instruments, net&#148;, in the consolidated statement of operations, which resulted from realized losses (interest expenses
incurred under the Goldman Sachs Swaps) of $4.9 million and unrealized gains of $3.4 million (from the change in the fair market
value) of the Goldman Sachs Swaps derivative contracts after their de-designation as accounting cash flow hedges (April 1, 2015)
and the write-off of unrealized losses, previously accumulated to &#147;Accumulated other comprehensive income/ (loss),&#148;
related to the forecasted transaction attributable to sold or expected to be sold vessels which are no longer expected to occur
of $1.8 million, as discussed above. In addition, as of December 31, 2015, we recorded a loss of $5.0 million in &#147;Accumulated
other comprehensive income/ (loss)&#148; resulting from the change in the fair market value of derivative contracts designation
as cash flow hedges, as discussed above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December
31, 2015, the floating rate portion of our long-term obligations consisted solely of senior secured credit facilities and the
fixed rate portion consisted of the 2019 Notes and capital lease obligations for four operating Ultramax vessels. The total interest
expense of our long-term debt obligations for the year ended December&nbsp;31, 2015 was $36.0 million. Our estimated total
interest expense for the year ending December&nbsp;31, 2016 is expected to be $35.4 million. Our estimated amount of
interest expense reflects interest payments we expect to make with respect to our long-term debt obligations. The interest expense
related to the floating rate portion of our long-term debt obligations  reflects an assumed LIBOR-based applicable
rate of 0.6127% (the three-month LIBOR rate as of December&nbsp;31, 2015) plus the relevant margin of the applicable
credit facility. The following table sets forth the sensitivity of our existing long-term obligations in millions of Dollars,
as of December&nbsp;31, 2015, as to a 100 basis point increase in LIBOR during the next five years:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the year</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ending December 31,</B></P></TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Estimated amount</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of interest expense</B></P></TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Estimated amount</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of interest expense after
        an</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>increase of 100 basis points</B></P></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Sensitivity</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2016</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2017</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">38.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.6</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2018</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2019</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.5</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2020</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.2</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The table below provides
information about our financial instruments at December&nbsp;31, 2015, that are sensitive to changes in interest rates, including
our debt and interest rate derivative contracts. For long-term debt, the table presents expected outstanding balances and related
weighted-average interest rates by expected maturity dates. For interest rate derivative contracts, the table presents notional
amounts and weighted-average fixed pay interest rates by expected contractual maturity dates. Generally, our interest rate derivative
contracts involve the receipt of floating payments based on the three-month LIBOR and the payment of fixed amounts based on a fixed
rate specified in each swap agreement, on a quarterly basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; border-bottom: Black 1pt solid">In thousands of Dollars</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="31" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1pt solid">As of
    year ended December 31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0in; padding-left: 5.4pt"><B><U>Long-Term Debt:</U></B></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -20pt; padding-left: 40pt; width: 28%">Variable Rate Debt, outstanding balance</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">748,864</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">661,038</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">476,152</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">199,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">145,960</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">24,716</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">20,141</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 5%; text-align: right">15,566</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -20pt; padding-left: 40pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Average
    Interest Rate on Variable Debt <SUP>(1)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.3</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -20pt; padding-left: 40pt">Fixed-Rate Debt, outstanding balance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,030</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">115,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57,210</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,440</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -20pt; padding-left: 40pt" nowrap><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Average
    Interest Rate on Fixed Debt <SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.6</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0in; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Interest
    Rate Derivative Contracts: <SUP>(3)</SUP></U></B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0in; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notional
    Amount Balance <SUP>(4)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">473,339</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">428,842</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0in; padding-left: 20pt">Average Fixed Pay Rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Average Interest Rate on Variable Debt represents the weighted average interest rate for our floating rate debt comprising
of LIBOR rate as of December 31, 2015 and applicable margin.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Average Interest Rate on Fixed Debt represents the annual coupon
                                         for our 8.00% 2019 Notes and the average interest rate on our bareboat capital lease
                                         commitments outstanding as of December 31, 2015.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Our interest rate derivative contracts involve the receipt of floating payments based on the three month LIBOR and the payment
of fixed amounts based on a fixed rate specified in each swap agreement, on a quarterly basis.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>All of interest swap derivative contracts expire within 2018.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Currency and Exchange Rates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generate all of
our revenues in Dollars and operating expenses in currencies other than the Dollar are approximately 7% of total operation expenses
during 2015. Further, 75% of our General and administrative expenses, excluding expenses of $2.7 million relating to the amortization
of stock based compensation recognized in connection with the restricted shares issued to directors and employees, including consulting
fees, salaries and traveling expenses were incurred in currencies other than the Dollar (mainly Euros) during 2015. For accounting
purposes, expenses incurred in Euros are converted into Dollars at the exchange rate prevailing on the date of each transaction.
Because a significant portion of our expenses are incurred in currencies other than the Dollar, our expenses may from time to time
increase relative to our revenues as a result of fluctuations in exchange rates, particularly between the Dollar and the Euro,
which could affect the amount of net income that we report in future periods. As of December 31, 2015, the effect of a 1% adverse
movement in Dollar/Euro exchange rates would have resulted in an increase of $154,185 and $55,354 in our General and administrative
expense and our operating expenses, respectively. While we historically have not mitigated the risk associated with exchange rate
fluctuations through the use of financial derivatives, we may determine to employ such instruments from time to time in the future
in order to minimize this risk. The use of financial derivatives, including foreign exchange forward agreements, would involve
certain risks, including the risk that losses on a hedged position could exceed the nominal amount invested in the instrument and
the risk that the counterparty to the derivative transaction may be unable or unwilling to satisfy its contractual obligations,
which could have an adverse effect on our results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Freight Derivatives</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From time to time,
we may take positions in freight derivatives, including Freight Forward Agreements (&#147;FFAs&#148;) and freight options. Generally
freight derivatives may be used to hedge a vessel owner&#146;s exposure to the charter market for a specified route and period
of time. Upon settlement, if the contracted charter rate is less than the average of the rates reported on 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 of the specified period. Conversely, if the contracted
rate is greater than the settlement rate, the buyer is required to pay the seller the settlement sum. If we take positions in FFAs
or other derivative instruments we could suffer losses in the settling or termination of these agreements. This could adversely
affect our results of operation and cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the year ended
December 31, 2012, we entered into a limited number of FFAs and freight options on the Capesize and Panamax and Supramax indexes.
We used these freight derivatives as an economic hedge to reduce the risk on specific vessels trading in the spot market, or to
take advantage of short term fluctuations in the market prices. Our freight derivatives do not qualify as cash flow hedges for
accounting purposes and therefore gains or losses are recognized in the accompanying consolidated statements of operations. FFAs
are settled on a daily basis through London Clearing House and also include a margin maintenance requirement based on marking the
contract to market. Freight options are treated as assets/liabilities until they are settled. During the years ended December 31,
2015, 2014 and 2013, we did not enter into FFAs and freight options and therefore we did not record any gain or loss from freight
derivatives. As of the date of this report we have not any open position on freight derivatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 12.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Description of Securities Other than Equity Securities</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">A.</FONT></TD><TD STYLE="text-align: justify">Debt securities</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.</FONT></TD><TD STYLE="text-align: justify">Warrants and rights</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">C.</FONT></TD><TD STYLE="text-align: justify">Other securities</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">D.</FONT></TD><TD STYLE="text-align: justify">American depository shares</TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>PART
II.</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 13.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Defaults, Dividend Arrearages and Delinquencies</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See &#147;Item 5.
Operating and Financial Review and Prospects&mdash;B. Liquidity and Capital Resources.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 14.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Material Modifications to the Rights of Security Holders and Use of Proceeds</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 15.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Controls and Procedures</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>(a)&#9; Disclosure
Controls and Procedures</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31,
2015, our management (with the participation of our Chief Executive Officer and Co-Chief Financial Officers) conducted an evaluation
pursuant to Rule 13a-15 and 15d-15 promulgated under the U.S. Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the evaluation,
our Chief Executive Officer and Co-Chief Financial Officers concluded that as of December 31, 2015, our disclosure controls and
procedures, which include, without limitation, controls and procedures designed to ensure that information required to be disclosed
by us in the reports we file or submit under the Exchange Act is accumulated and communicated to the management, including our
Chief Executive Officer and Co-Chief Financial Officers, as appropriate to allow timely decisions regarding required disclosure,
were effective to provide reasonable assurance that information required to be disclosed by us in reports we file or submit under
the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the
Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>(b)&#9; Management&#146;s
Annual Report on Internal Control Over Financial Reporting</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Management is responsible
for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15 and 15d-15 under
the Securities and Exchange Act of 1934, as amended. Our internal control over financial reporting is a process designed under
the supervision of our Chief Executive Officer and Co-Chief Financial Officers, and carried out by our board of directors, management,
and other personnel, to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of
our consolidated financial statements for external reporting purposes in accordance with U.S. GAAP. Our internal control over financial
reporting includes policies and procedures that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect
transactions and dispositions of our assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Provide reasonable assurance that transactions are recorded as necessary to permit preparation
of consolidated financial statements in accordance with U.S. GAAP, and that receipts and expenditures are being made only in accordance
with authorizations of our management and directors; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of our assets that could have a material effect on the consolidated financial statements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Management has conducted
an assessment of the effectiveness of our internal control over financial reporting based on the framework established in the &#147;Internal
Control &ndash; Integrated Framework&#148; issued by the Committee of Sponsoring Organizations of the Treadway Commission, or
COSO, (2013 Framework).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on this assessment,
management has determined that our internal control over financial reporting as of December 31, 2015 is effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&#9; Attestation
Report of the Independent Registered Public Accounting Firm</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The attestation report
on the Company&#146;s internal control over financial reporting issued by the registered public accounting firm that audited the
consolidated financial statements Ernst Young (Hellas) Certified Auditors-Accountants S.A., appears under &#147;Item 18. Financial
Statements&#148; of this annual report and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#9; Changes in
Internal Control over Financial Reporting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There were no other
changes in our internal controls over financial reporting that occurred during the period covered by this Annual Report that have
materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inherent Limitations on Effectiveness
of Controls</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management, including
our Chief Executive Officer and the Co-Chief Financial Officers, does not expect that our disclosure controls or our internal control
over financial reporting will prevent or detect all error and all fraud. A control system, no matter how well designed and operated,
can provide only reasonable, not absolute, assurance that the control system&#146;s objectives will be met. Our disclosure controls
and procedures are designed to provide reasonable assurance of achieving their objectives. Projections of any evaluation of controls
effectiveness to future periods are subject to risks. Over time, controls may become inadequate because of changes in conditions
or deterioration in the degree of compliance with policies or procedures. Further, in the design and evaluation of our disclosure
controls and procedures our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship
of possible controls and procedures. Because of the inherent limitations in a cost-effective control system, misstatements due
to error or fraud may occur and not be detected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16A.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Audit Committee Financial Expert</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors
has determined that Mr. Softeland, whose biographical details are included in Item 6. &#147;Directors and Senior Management,&#148;
the chairman of our Audit Committee qualifies as a financial expert and is considered to be independent according to the Commission
rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16B.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Code of Ethics</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have adopted a code
of ethics that applies to our directors, officers and employees. A copy of our code of ethics is posted in the &#147;Corporate
Governance&#148; section of Star Bulk Carriers Corp. website, and may be viewed at <U>http://www.starbulk.com</U>. We will also
provide a hard copy of our code of ethics free of charge upon written request of a shareholder. Shareholders may direct their requests
to the attention of Investor Relations, c/o Star Bulk Management Inc., 40 Agiou Konstantinou Str., Maroussi 15124, Athens, Greece.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Principal Accountant Fees and Services</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The table below sets
forth the total fees for the services performed by our principal accountants, Ernst &amp; Young (Hellas) Certified Auditors Accountants
S.A in 2015 and 2014, which we refer to as the Independent Registered Accounting Firms. This table below also identifies these
amounts by category of services:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; border-bottom: Black 1pt solid">(In thousands of Dollars)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left">Audit fees (a)&#9;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">714</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">670</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Audit-related fees&#9;(b)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">113</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Tax fees&#9;(c)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">All other fees&#9;(d)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total fees&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,047</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">783</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 31pt"><B>(a)</B></TD><TD STYLE="width: 5pt"></TD><TD><B>Audit Fees:</B> Audit fees represent professional services rendered for
the audit of our annual financial statements and services provided by the principal accountant in connection with statutory and
regulatory filings or engagements.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 31pt"><B>(b)</B></TD><TD STYLE="width: 5pt"></TD><TD><B>Audit&ndash;Related Fees:</B> Audit-related fees consisted of assurance
and related services rendered by the principal accountant related to the performance of the audit or review of our financial statements
which have not been reported under Audit Fees above.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 31pt"><B>(c)</B></TD><TD STYLE="width: 5pt"></TD><TD><B>Tax Fees: </B>Tax fees represent fees for professional services rendered
by the principal accountant for tax compliance, tax advice and tax planning.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt"><TR STYLE="vertical-align: top; text-align: left">
<TD STYLE="width: 31pt"><B>(d)</B></TD><TD STYLE="width: 5pt"></TD><TD><B>All Other Fees: </B>All other fees include services other than audit
fees, audit-related fees and tax fees set forth above.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Audit Committee
is responsible for the appointment, replacement, compensation, evaluation and oversight of the work of the independent auditors.
As part of this responsibility, the Audit Committee pre-approves the audit and non-audit services performed by the independent
auditors in order to assure that they do not impair the auditor&#146;s independence from the Company. The Audit Committee has
adopted a policy which sets forth the procedures and the conditions pursuant to which services proposed to be performed by the
independent auditors may be pre-approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16D.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Exemptions from the Listing Standards for Audit Committees</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16E.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchases of Equity Securities by the Issuer and Affiliated Purchasers</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 23, 2010,
our board of directors adopted a stock repurchase plan for up to $30.0 million to be used for repurchasing our common shares until
December 31, 2011. On August 10, 2011, our board of directors decided to reinstate the share repurchase plan with the limitation
of acquiring up to a maximum amount of $3.0 million worth of our shares, at a maximum price of $19.5 per share. On November 9,
2011, our board of directors extended the duration of the share repurchase plan until December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
summarizes our repurchases of our ordinary shares per month during the year ended December 31, 2012:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total number of<BR> shares<BR> repurchased</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Average price paid<BR> per share</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total Number of<BR> Shares Purchased<BR> as Part of Publicly<BR> Announced Plans<BR> or Programs</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Maximum<BR> Approximate Dollar<BR> Value of Shares<BR> that May Yet Be<BR> Purchased Under<BR> the Plans or<BR> Programs</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-align: left"><FONT STYLE="font-size: 10pt">January 2012&#9;</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: right">21,294</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 16%; text-align: right">14.25</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">April 2012&#9;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,103</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">June 2012&#9;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10.95</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Total 2012&#9;</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">61,730</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13.8</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the years ended
December 31, 2013, 2014 and 2015, there were no shares repurchased.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16F.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Change in Registrants Certifying Accountant</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16G.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Corporate Governance</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a foreign private
issuer, we are permitted to follow home country practices in lieu of certain Nasdaq corporate governance requirements. We have
certified to Nasdaq that our corporate governance practices are in compliance with, and are not prohibited by, the laws of the
Republic of the Marshall Islands. We are exempt from many of Nasdaq&#146;s corporate governance practices other than the requirements
regarding the disclosure of a going concern audit opinion, submission of a listing agreement, notification of material non-compliance
with Nasdaq corporate governance practices and the establishment and composition of an audit committee and a formal written audit
committee charter. The practices we follow in lieu of Nasdaq&#146;s corporate governance requirements are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">While our board of directors is currently comprised of directors a majority of whom are independent,
we cannot assure you that in the future we will have a majority of independent directors. Our board of directors does not hold
annual meetings at which only independent directors are present.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Consistent with Marshall Islands law requirements, in lieu of obtaining an independent review of
related party transactions for conflicts of interests, our Bylaws require any director who has a potential conflict of interest
to identify and declare the nature of the conflict to the board of directors at the next meeting of the board of directors. Our
code of ethics and Bylaws additionally provide that related party transactions must be approved by a majority of the independent
and disinterested directors. If the votes of such independent and disinterested directors are insufficient to constitute an act
of the board of directors, then the related party transaction may be approved by a unanimous vote of the disinterested directors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">In lieu of obtaining shareholder approval prior to the issuance of designated securities, we plan
to obtain the approval of our board of directors for such share issuances.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">In lieu of an audit committee comprised of a minimum of three directors all of whom are independent
and a compensation committee comprised solely of independent directors, our audit committee consists of three independent directors
and our compensation committee consists of an executive director and two independent directors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a foreign private
issuer, we are not required to solicit proxies or provide proxy statements to Nasdaq pursuant to Nasdaq corporate governance rules
or Marshall Islands law. Consistent with Marshall Islands law and as provided in Bylaws, we will notify our shareholders of meetings
between 10 and 60 days before the meeting. This notification will contain, among other things, information regarding business to
be transacted at the meeting. In addition, our Bylaws provide that shareholders must give between 120 and 180 days advance notice
to properly introduce any business at a meeting of the shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Other than as noted
above, we are in full compliance with applicable Nasdaq corporate governance standard requirements for U.S. domestic issuers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Item 16H.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Mine Safety Disclosure</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not Applicable.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>PART
III.</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 17.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Statements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See Item 18. &#147;Financial
Statements.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 18.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Statements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements
beginning on page F-1 together with the respective reports of the Independent Registered Public Accounting Firms are filed as part
of this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Item 19.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Exhibits</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibits</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Third Amended and Restated Articles of Incorporation
    of Star Bulk Carriers Corp. (included as Exhibit 1 of the Company&rsquo;s Form 6-K, which was filed with the Commission
    on October 15, 2012 and incorporated herein by reference).</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">1.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Third Amended and Restated Bylaws of the Company (included as Exhibit 1.2 of the Company&#146;s Form 20-F, which was filed with the Commission on April 8, 2015 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">2.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Form of Share Certificate (included as Exhibit 2.1 of the Company&#146;s Form 20-F, which was filed with the Commission on April 8, 2015 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">2.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Base Indenture, dated as of November 6, 2014, between the Company and U.S. Bank National Association, as trustee (the &#147;Trustee&#148;) (included as Exhibit 4.1 to the Company&#146;s Current Report on Form 6-K, dated November 7, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">2.3</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">First Supplemental Indenture, dated as of November 6, 2014, between the Company and the Trustee (included as Exhibit 4.1 to the Company&#146;s Current Report on Form 6-K, dated November 7, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Purchase Agreement, dated as of May 1, 2013, by and among Star Bulk Carriers Corp. and the purchasers named therein (included as Exhibit 99.1 of the Company&#146;s Schedule 13D, which was filed with the Commission on August 5, 2013 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Amended and Restated Registration Rights Agreement dated July 11, 2014 (included as Annex B to Exhibit 99.1 to the Company&#146;s Current Report on Form 6-K, dated June 20, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Amendment No.1 to Amended and Restated Registration Rights Agreement dated August 28, 2014 (included as Exhibit 99.2 to the Company&#146;s Current Report on Form 6-K, dated September 3, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Agreement and Plan of Merger dated June 16, 2014 (included as Exhibit 99.2 to the Company&#146;s Current Report on Form 6-K, dated June 16, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.5</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Oaktree Shareholders Agreement (included as Annex B to Exhibit 99.1 to the Company&#146;s Current Report on Form 6-K, dated June 20, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.6</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Pappas Shareholder Agreement by and among the Company and the parties named therein dated July 11, 2014 (included as Exhibit 99.3 to the Company&#146;s Current Report on Form 6-K, dated June 16, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.7</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Vessel Purchase Agreement by and among the Company, Excel and Christine Shipco Holdings Corp. dated August 19, 2014 (included as Exhibit 99.1 to the Company&#146;s Current Report on Form 6-K, dated September 3, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.8</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Underwriting Agreement, dated October 30, 2014, between Star Bulk Carriers Corp. and the underwriters named on Schedule I thereto. (included as Exhibit 1.1 to the Company&#146;s Current Report on Form 6-K, dated November 07, 2014 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.9</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Underwriting Agreement, dated January 9, 2015, between Jefferies LLC and Morgan Stanley &amp; Co. LLC, as representative of the other several underwriters listed in Schedule I thereto, and Star Bulk Carriers Corp. (included as Exhibit 1.1 to the Company&#146;s Current Report on Form 6-K, dated January 15, 2015 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center; width: 13%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; width: 77%">&nbsp;</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.10</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Placement Agency Agreement, dated May 13, 2015, between Clarksons Platou Securities, Inc., as manager of the placement agents listed in Schedule I thereto, and Star Bulk Carriers Corp. (included as Exhibit 1.1 to the Company&#146;s Current Report on Form 6-K, dated April 19, 2015 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.11</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">2013 Equity Incentive Plan (included as Exhibit
    4.4 of the Company&rsquo;s Form F-1, which was filed with the Commission on May 2, 2013 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.12</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">2014 Equity Incentive Plan (included as Exhibit
    2.6 of the Company&rsquo;s Form 20-F, which was filed with the Commission on March 21, 2014 and incorporated herein by
    reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">4.13</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">2015 Equity Incentive Plan</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">6.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">For earnings per share calculation, see &#147;Item 18. Financial Statements&mdash;Note 13.&#148;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">8.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">For a list of all our subsidiaries, see &#147;Item 18. Financial Statements&mdash;Note 1&#148;.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">11.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Code of Ethics (included as Exhibit 11.1 of the Company&#146;s Form 20-F, which was filed with the Commission on April 8, 2015 and incorporated herein by reference)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">12.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Certification of the Principal Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">12.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Certification of the Principal Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">13.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Certification of the Principal Executive Officer pursuant to 18 USC Section 1350, as adopted, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">13.2</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Certification of the Principal Financial Officer pursuant to 18 USC Section 1350, as adopted, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">15.1</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consent of Independent Registered Public Accounting Firm (Ernst &amp; Young (Hellas) Certified Auditors Accountants S.A.)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">101</FONT></TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">The following materials from the Company&#146;s Annual Report on Form 20-F for the fiscal year ended December 31, 2015, formatted in Extensible Business Reporting Language (XBRL):</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center; width: 13%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 77%; padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consolidated Balance Sheets as of December 31, 2014 and 2015;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consolidated Statements of Operations for the years ended December 31, 2013, 2014 and 2015;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consolidated Statements of Comprehensive Income/ (Loss) for the years ended December 31, 2013, 2014 and 2015;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consolidated Statements of Shareholders&#146; Equity for the for the years ended December 31, 2013, 2014 and 2015;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">(v)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">Consolidated Statements of Cash Flows for the for the years ended December 31, 2013, 2014 and 2015; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">(vi)</FONT></TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">the Notes to Consolidated Financial Statements.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The registrant hereby
certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned
to sign this annual report on its behalf.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: center">Star Bulk Carriers Corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">(Registrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date: March 22, 2016</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 17.3pt; text-indent: -8.65pt">/s/ Petros Pappas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 17.3pt; text-indent: -8.65pt">Name:&nbsp;&nbsp;Petros Pappas</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 17.3pt; text-indent: -8.65pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Split-Segment; Name: fs -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STAR BULK CARRIERS CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INDEX TO CONSOLIDATED<BR>
FINANCIAL STATEMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 90%">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Report of Independent Registered Public Accounting Firm</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-2</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-3</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Consolidated Balance Sheets as of December 31, 2014 and 2015</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-4</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Consolidated Statements of Operations for the years ended December 31, 2013, 2014 and 2015</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-5</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Consolidated Statements of Comprehensive Income / (Loss) for the years ended December 31, 2013, 2014 and 2015</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-6</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Consolidated Statements of Stockholders&#146; Equity for
    the years ended December 31, 2013, 2014 and 2015</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-7</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Consolidated Statements of Cash Flows for the years ended December 31, 2013, 2014 and 2015</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-8</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Notes to Consolidated Financial Statements</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-9</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">The
Board of Directors and Stockholders of Star Bulk Carriers Corp.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated
balance sheets of Star Bulk Carriers Corp. (the &ldquo;Company&rdquo;) as of December 31, 2015 and 2014, and the related consolidated
statements of operations, comprehensive income/(loss), stockholders&rsquo; equity and cash flows for each of the three years in the
period ended December 31, 2015. These financial statements are the responsibility of the Company&rsquo;s management. Our responsibility
is to express an opinion on these financial statements based on our audits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance
with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, the financial statements
referred to above present fairly, in all material respects, the consolidated financial position of Star Bulk Carriers Corp. at
December 31, 2015 and 2014, and the consolidated results of its operations and its cash flows for each of the three years in the
period ended December 31, 2015, in conformity with U.S. generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also have audited, in
accordance with the standards of the Public Company Accounting Oversight Board (United States), Star Bulk Carriers
Corp.&rsquo;s internal control over financial reporting as of December 31, 2015, based on criteria established in Internal
Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework)
and our report dated March 22, 2016 expressed an unqualified opinion thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Ernst &amp; Young (Hellas)
Certified Auditors-Accountants S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Athens, Greece&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 22, 2016&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board of Directors and Stockholders
of Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited Star Bulk Carriers
Corp.&rsquo;s (the &ldquo;Company&rdquo;) internal control over financial reporting as of December 31, 2015, based on criteria
established in Internal Control&mdash;Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway
Commission (2013 framework) (the COSO criteria). Star Bulk Carriers Corp.&rsquo;s management is responsible for maintaining effective
internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting
included in the accompanying Management&rsquo;s Annual Report on Internal Control over Financial Reporting. Our responsibility
is to express an opinion on the Company&rsquo;s internal control over financial reporting based on our audit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audit in accordance
with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained
in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing
the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based
on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our
audit provides a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A company&rsquo;s internal control
over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
A company&rsquo;s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only
in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or disposition of the company&rsquo;s assets that could have a material effect
on the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of its inherent limitations,
internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, Star Bulk Carriers
Corp. maintained, in all material respects, effective internal control over financial reporting as of December 31, 2015, based
on the COSO criteria<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also have audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Star Bulk
Carriers Corp. as of December 31, 2015 and 2014, and the related consolidated statements of operations, comprehensive income/
(loss), stockholders&rsquo; equity and cash flows for each of the three years in the period ended December 31, 2015 of Star Bulk
Carriers Corp. and our report dated March 22, 2016 expressed an unqualified opinion thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Ernst &amp; Young (Hellas)
Certified Auditors-Accountants S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Athens, Greece&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Balance Sheets</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>As of December 31, 2014 and 2015</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars except for share and
per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Red"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">ASSETS</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">CURRENT ASSETS</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 59%; color: Black; text-align: left; padding-left: 10pt">Cash and cash equivalents</TD><TD STYLE="width: 8%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 12%; color: Black; text-align: right">86,000</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 12%; color: Black; text-align: right">208,056</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Restricted cash, current (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">3,352</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">3,769</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Trade accounts receivable, net</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">24,765</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">10,889</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Inventories (Note 4)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">14,368</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">14,247</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Due from related parties (Note 3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">245</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,209</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Other current assets</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,350</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,284</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Prepaid expenses and other receivables</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">4,350</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">8,604</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total Current Assets</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">134,430</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">252,058</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">FIXED ASSETS</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Advances for vessels under construction and acquisition of vessels (Note 6)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">454,612</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">127,910</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Vessels and other fixed assets, net (Note 5)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,441,851</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,757,552</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total Fixed Assets</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,896,463</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,885,462</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">OTHER NON-CURRENT ASSETS</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Long-term investment (Note 3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">634</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">844</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Deferred finance charges, net</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">8,029</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">16,037</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Restricted cash, non-current (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">10,620</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">10,228</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Fair value of above market acquired time charter (Note 7)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">11,908</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">254</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">2,062,084</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">2,164,883</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">LIABILITIES &amp; STOCKHOLDERS' EQUITY</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-left: 10pt">CURRENT LIABILITIES</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Current portion of long term debt (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">88,317</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">127,141</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Lease commitments short term (Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">4,490</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Excel Vessel Bridge Facility from related parties, current portion (Note 3 &amp; Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">8,168</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Accounts payable</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">18,487</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">9,436</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Advances from sale of vessel (Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,100</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Due to related parties (Note 3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,166</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">422</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Due to managers</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,291</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Accrued liabilities (Note 15)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">13,738</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">14,773</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Derivative liability, current (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,722</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,931</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred revenue</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">2,500</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">2,465</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total Current Liabilities</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">140,198</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">166,949</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">NON-CURRENT LIABILITIES</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">8.00% 2019 Notes (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">50,000</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">50,000</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Long term debt (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">667,315</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">734,597</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Lease commitments long term (Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">75,030</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Excel Vessel Bridge Facility from related parties, non current portion (Note 3 &amp; Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">47,993</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Derivative liability, non-current (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,010</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,518</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Other non-current liabilities</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">266</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">431</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt">TOTAL LIABILITIES</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">907,782</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,029,525</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-left: 10pt">COMMITMENTS &amp; CONTINGENCIES (Note 17)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">STOCKHOLDERS' EQUITY</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Preferred Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2014 and 2015 (Note 9)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Common Stock, $0.01 par value, 300,000,000 shares authorized; 109,426,236 and 219,105,712 shares issued and outstanding at December 31, 2014 and 2015, respectively (Note 9)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,094</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,191</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Additional paid in capital&nbsp;&nbsp;(Note 9)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,567,713</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,006,687</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Accumulated other comprehensive income/(loss) (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(378</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,216</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Accumulated deficit</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(414,127</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(872,304</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Total Stockholders' Equity</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,154,302</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,135,358</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">2,062,084</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">2,164,883</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">The
accompanying notes are integral part of these consolidated financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Operations</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For the years ended December 31, 2013, 2014 and 2015</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars except for share and
per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; font-weight: bold">Revenues:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; color: Black; text-align: left">Voyage revenues</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">68,296</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">145,041</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">234,035</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Management fee income (Note 3)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,598</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">2,346</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">251</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">69,894</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">147,387</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">234,286</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold">Expenses</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Voyage expenses (Note 18)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">7,549</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">42,341</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">72,877</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Charter-in hire expenses</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,025</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Vessel operating expenses (Note 18)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">27,087</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">53,096</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">112,796</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Dry docking expenses</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">3,519</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,363</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">14,950</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">Depreciation</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">16,061</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">37,150</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">82,070</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Management fees (Note 12)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">158</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">8,436</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">General and administrative expenses</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">9,910</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">32,723</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">23,621</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Bad debt expense</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">215</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Impairment loss (Note 5, Note 6 and Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">321,978</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Loss on time-charter agreement termination (Note 7)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,114</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Other operational loss (Note 11)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,125</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">94</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Other operational gain (Note 10)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(3,787</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(10,003</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(592</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Loss on sale of vessel ( Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">87</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">20,585</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Gain from bargain purchase (Note 1)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(12,318</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">61,551</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">148,819</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">659,860</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Operating income/(loss)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">8,343</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(1,432</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(425,574</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Other Income/(Expenses):</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Interest and finance costs (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(6,814</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(9,575</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(29,661</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Interest and other income</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">230</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">629</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,090</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Gain/(Loss) on derivative financial instruments, net (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">91</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(799</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(3,268</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Loss on debt extinguishment (Note 8)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(652</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(974</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Total other expenses, net</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(6,493</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(10,397</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(32,813</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Income/(Loss) before equity in income of investee</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">1,850</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(11,829</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right">(458,387</TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Equity in income of investee (Note 3)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">106</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">210</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income/(loss)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,850</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(11,723</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(458,177</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-bottom: 1pt">Earnings/(loss) per share, basic (Note 14)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">0.13</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(0.20</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(2.34</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-bottom: 1pt">Earnings/(loss) per share, diluted&nbsp;&nbsp;(Note 14)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">0.13</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(0.20</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(2.34</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; padding-bottom: 1pt">Weighted average number of shares outstanding, basic&nbsp;&nbsp;(Note 14)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">14,051,344</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">58,441,193</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">195,623,363</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-bottom: 1pt">Weighted average number of shares outstanding, diluted (Note 14)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">14,116,389</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">58,441,193</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">195,623,363</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">The
accompanying notes are an integral part of these consolidated financial statements.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Comprehensive Income / (Loss)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For the years ended December 31, 2013, 2014 and 2015</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars except for share and
per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; color: Black; font-weight: bold; text-align: left">Net income/(loss):</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">1,850</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">(11,723</TD><TD STYLE="width: 1%; color: Black; text-align: left">)</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">(458,177</TD><TD STYLE="width: 1%; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Other comprehensive income/(loss):</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-style: italic; text-align: left">Unrealized losses from cash flow hedges:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Unrealized gain from hedging interest rate swaps recognized in Other comprehensive income / (loss) before reclassifications (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,433</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(5,047</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-style: italic">Less:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Reclassification adjustments of interest rate swap loss (Note 19)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,055</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">4,209</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Other comprehensive income/(loss):</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(378</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(838</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Comprehensive income/(loss)</TD><TD STYLE="color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right">1,850</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right">(12,101</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right">(459,015</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">The
accompanying notes are an integral part of these consolidated financial statements.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Stockholders&#146; Equity</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For the years ended December 31, 2013, 2014 and 2015</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars except for share and
per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Red"><B></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD COLSPAN="5" STYLE="color: Black; font-weight: bold; text-align: center; vertical-align: middle"><FONT STYLE="color: Black">Common Stock</FONT></TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right"><BR><BR><FONT STYLE="color: Black"># of Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right"><FONT STYLE="color: Black"><BR><BR><BR>Par Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right"><FONT STYLE="color: Black"><BR><BR>Additional Paid-in <FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B><BR>
Capital</B></FONT></FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right"><FONT STYLE="color: Black">Other Comprehensive income/(loss)</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right"><FONT STYLE="color: Black"><br><BR>Accumulated deficit</FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; font-weight: bold; text-align: right"><FONT STYLE="color: Black">Total Stockholders'<BR> <FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B>Equity</B></FONT></FONT></TD><TD STYLE="padding-bottom: 1pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; color: Black; font-weight: bold; padding-bottom: 2.5pt">BALANCE, January 1, 2013</TD><TD STYLE="width: 2%; color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">5,400,810</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">54</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">520,946</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(404,254</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 2%; color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="width: 6%; border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">116,746</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Net income/(loss) for the year ended December 31, 2013</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">1,850</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">1,850</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Issuance of common stock (Note 9)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">23,388,861</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">234</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">145,788</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">146,022</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">270,000</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">3</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,485</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,488</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">BALANCE, December 31, 2013</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">29,059,671</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">291</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">668,219</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(402,404</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">266,106</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Net income/(loss) for the year ended December 31, 2014</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">(11,723</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">(11,723</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Other comprehensive loss</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(378</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(378</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Issuance of common stock - Acquisition of 33% of Interchart (Note 9)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">22,598</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">328</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">328</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">580,342</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,829</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,834</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Issuance of common stock Merger &amp; Pappas Transaction (Note 1)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">51,988,494</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">520</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">615,752</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">616,272</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Issuance of common stock Heron Transaction in escrow account (Note 1)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,115,706</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">21</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">25,058</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">25,079</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Issuance of common stock Excel Transactions (Note 1)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">25,659,425</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">257</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">252,527</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">252,784</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">BALANCE, December 31, 2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">109,426,236</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,094</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,567,713</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(378</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(414,127</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,154,302</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Net income/(loss) for the year ended December 31, 2015</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">(458,177</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">$</TD><TD STYLE="color: Black; text-align: right">(458,177</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Other comprehensive loss</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(838</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(838</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Amortization of stock-based compensation (Note 13)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,684</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,684</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">Issuance of common shares (Note 9)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">105,250,418</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,053</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">416,744</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">417,797</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Issuance of shares for commission to Oceanbulk Maritime (Note 3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">171,171</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">280</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">282</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">4,257,887</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">42</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">19,266</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">19,308</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">BALANCE, December 31, 2015</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">219,105,712</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">2,191</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">2,006,687</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(1,216</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(872,304</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,135,358</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">The
accompanying notes are an integral part of these consolidated financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Cash Flows</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For the years ended December 31, 2013, 2014 and 2015</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Cash Flows from Operating Activities:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%; color: Black; text-align: left; padding-left: 10pt">Net income/(loss)</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">1,850</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">(11,723</TD><TD STYLE="width: 1%; color: Black; text-align: left">)</TD><TD STYLE="width: 5%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; color: Black; text-align: right">(458,177</TD><TD STYLE="width: 1%; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-left: 10pt">Depreciation</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">16,061</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">37,150</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">82,070</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Amortization of&nbsp;&nbsp;fair value of above market acquired time charters (Note 7)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">6,352</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">6,113</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">9,540</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Amortization of deferred finance charges (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">522</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">681</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,732</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Amortization of deferred gain (Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(22</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Loss on debt extinguishment (Note 8)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">652</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">974</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Loss on time-charter agreement termination (Note 7)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,114</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Impairment loss (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">321,978</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Loss on sale of vessel (Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">87</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">20,585</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Stock-based compensation (Note 13)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,488</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,834</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,684</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Non-cash effects of derivatives (Note 19)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(91</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,717</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(121</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Other non-cash charges</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">38</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">66</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">38</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Bad debt expense</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">215</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Gain from insurance claim</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,030</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(237</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Gain from bargain purchase (Note 1)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(12,318</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Write-off of liability in other operational gain (non cash gain) (Note 10)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,361</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Equity in income of investee (Note 3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(106</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(210</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Changes in operating assets and liabilities:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">(Increase)/Decrease in:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Trade accounts receivable</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,766</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(16,057</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">13,876</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; padding-left: 10pt">Inventories</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,887</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(5,409</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">121</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Prepaid expenses and other current assets</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(131</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(2,328</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(8,497</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Due from related parties</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(339</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">287</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(964</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Increase/(Decrease) in:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Accounts payable</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,626</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,995</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(5,276</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Due to related parties</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">297</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(449</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,744</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Accrued liabilities</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">350</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">6,713</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,465</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Due to managers</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,291</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred revenue</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(986</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">1,384</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(35</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash provided by/(used in) Operating Activities</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">27,495</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">12,819</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(14,578</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Cash Flows provided by/(used in) Investing Activities:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Advances for vessels under construction and acquisition of vessels and other assets</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(127,814</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(518,447</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(473,917</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Cash paid for above market acquired time charters (Note 7)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(4,856</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Cash proceeds from vessel sale (Note 5)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">8,267</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,100</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">70,300</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Long term investment (Note 3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(200</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Cash received from Merger &amp; Pappas Transaction (Note 1)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">96,268</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Hull and Machinery Insurance proceeds</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">4,265</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">550</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">309</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Proceeds from cancellation of&nbsp;&nbsp;vessels under construction</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,800</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Decrease in restricted cash</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">7,664</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">35</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">4,500</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Increase in restricted cash</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(11,525</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(4,525</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash provided by/(used in) Investing Activities</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(107,618</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(437,075</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(397,533</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Cash Flows provided by/(used in) Financing Activities:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Proceeds from bank loans and&nbsp;&nbsp;8.00% 2019 Notes</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">637,207</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">373,993</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Loan prepayments and repayments</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(33,780</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(173,986</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(244,529</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Financing fees paid</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(271</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(6,513</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(13,094</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-left: 10pt">Proceeds from issuance of common stock</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">150,905</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">418,771</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt; padding-left: 10pt">Offering expenses paid related to the issuance of common stock</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(4,883</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(974</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash provided by/(used in) Financing Activities</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">111,971</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">456,708</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">534,167</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Net increase in cash and cash equivalents</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">31,848</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">32,452</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">122,056</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of year</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">21,700</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">53,548</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">86,000</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at end of the year</TD><TD STYLE="color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right">53,548</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right">86,000</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; text-align: right">208,056</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">SUPPLEMENTAL CASH FLOW INFORMATION</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: left">Cash paid during the year for:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Interest, net of amount capitalized</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">6,156</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">5,803</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">29,813</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">The
accompanying notes are an integral part of these consolidated financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial
statements as of and for the years ended December 31, 2013, 2014 and 2015, include the accounts of Star Bulk Carriers Corp. (&#147;Star
Bulk&#148;) and its wholly owned subsidiaries as set forth below (collectively, the &#147;Company&#148;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Star Bulk was incorporated on December
13, 2006 under the laws of the Marshall Islands and maintains executive offices in Athens, Greece. The Company is engaged in the
ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. Since December
3, 2007, Star Bulk shares trade on the NASDAQ Global Select Market under the ticker symbol SBLK.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The July 2014 Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On July 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;Oceanbulk Sellers&#148; or &#147;Sellers&#148;) through the merger of
the Company&#146;s wholly-owned subsidiaries, Star Synergy LLC and Star Omas LLC, into Oceanbulk&#146;s holding companies (the
&#147;Merger&#148;). 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. Millennia
Holdings is an entity that is affiliated with the family of Mr. Petros Pappas, who became the Company&#146;s Chief Executive Officer
in connection with the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The agreement governing
the Merger, the &#147;Merger Agreement&#148;, 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. (&#147;Heron&#148;), a limited liability company
incorporated in Malta, which was a joint venture between Oceanbulk Shipping and a third party. Oceanbulk Shipping at the time
of the Merger had an outstanding loan receivable of $23,680 from Heron that was convertible into 50% of the equity interests of
Heron (the &#147;Heron Convertible Loan&#148;). The Heron Convertible Loan was converted into 50% of the equity of Heron on November
5, 2014. The Company issued 2,115,706 of its common shares into escrow as part of the consideration for the acquisition of the
Heron Vessels. The common shares were released from escrow to the Sellers on January 30, 2015, following the transfer of the Heron
Vessels to the Company on December 5, 2014 (Note 5). In addition to the issued shares, upon the delivery of the Heron vessels
the Company paid $25,000 in cash, which was financed by the Heron Vessels Facility (described in Note 8t), which the Company
had entered in November 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">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. Pappas. 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 (<I>Indomitable </I>- ex-HN 5016), which was delivered in January 2015. The Merger, the Heron Transaction and the
Pappas Transaction are referred to, together, as the &#147;July 2014 Transactions&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">A total of 54,104,200
of the Company&#146;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The Merger and the Pappas
Transaction have been reflected in the Company&#146;s consolidated financial statements for the year ended December 31, 2014,
as purchases of businesses pursuant to Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification
(&#147;ASC&#148;) 805, &#147;<I>Business Combinations</I>&#148;, and the results of operations of Oceanbulk and the Pappas
Companies have been included in the accompanying consolidated statement of operations since July 11, 2014, the date the Merger
and the Pappas Transaction were completed. The following table summarizes the estimated fair values of the significant assets acquired
and liabilities assumed by the Company on the date of the acquisition with respect to the Merger and the Pappas Transaction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 82%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>July 11, 2014</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Assets</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash and cash equivalents</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">89,887</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restricted cash</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,381</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other current assets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,906</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Advances for vessel acquisition and vessels under construction</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">316,786</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Vessels</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">426,000</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fair value of above market acquired charters</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,967</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total Assets acquired</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>854,927</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Liabilities</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,372</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Long-term debt, including current portion</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">208,237</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Derivative financial liabilities</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,728</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total Liabilities assumed</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>226,337</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net assets acquired</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>628,590</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">616,272</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Gain from Bargain Purchase</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>12,318</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The purchase price allocation
was prepared by the Company, assisted by a third party expert, based on management estimates and assumptions, making use of available
market data and taking into consideration third party valuations. Major adjustments to record the acquired assets and assumed liabilities
at fair value include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(a) a $158,523 fair value adjustment
recognized for vessels under construction, as supported by vessel valuations of independent shipbrokers on a fully delivered and
charter free basis, through Level 2 of the fair value hierarchy based on observable inputs, prevailing in the sale and purchase
market of similar vessels on June&nbsp;23, 2014, which, according to the third party appraiser and management estimates and based
on the then current market trends were not materially different from the values on July 11, 2014;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(b) a $79,465 fair value adjustment
recognized for vessels in operation, as supported by vessel valuations of independent shipbrokers on a charter free basis, through
Level 2 of the fair value hierarchy based on observable inputs, prevailing in the sale and purchase market of similar vessels on
June 23, 2014, which, according to the third party appraiser and management estimates and based on the then current market trends
were not materially different from the values on July 11, 2014;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(c) a write-off of the Heron
Convertible Loan of $23,680, as further discussed below, on the basis that no economic benefit is expected to be provided to the
Company from Heron&#146;s liquidation process (other than the distribution of the Heron Vessels in exchange for separate consideration
of 2,115,706 common shares and $25,000 in cash) with any distributable cash from the liquidation of Heron to be transferred to
the former owners of Oceanbulk Shipping as further discussed in Note 17.2;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(d) a write-off of $3,003 deferred
finance costs with respect to financing arrangements that, according to the third party appraiser and management estimates, are
not expected to provide any ongoing benefit to the business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(e) a $1,967 intangible asset
recognized with respect to a fair value adjustment for two favorable charters under which Oceanbulk is the lessor, through Level
2 of the fair value hierarchy based on observable inputs, by comparing the discounted cash flows under the existing charters with
those that could be obtained in the then current market by vessels of similar size and age for the remaining charter period. The
respective intangible asset will be amortized on a straight-line basis over the remaining period of the time charters which are
scheduled to end during the first and second quarter of 2016 (please refer to Note 7).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The fair value of the
share consideration issued in the July 2014 Transactions was based on the market price of $11.854 per share of the Company&#146;s
common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The resulting gain from
bargain purchase from the acquisition of Oceanbulk and the Pappas Companies of $12,318 is separately presented in the accompanying
consolidated statement of operations for the year ended December 31, 2014. The gain from bargain purchase is primarily attributable
to the estimates of the fair value of the assets acquired and liabilities assumed and the subsequent stability or slightly declining
market value of dry bulk carrier vessels since the signing of the agreements relating to the July 2014 Transactions, combined with
the simultaneous decline in stock prices for most U.S. listed shipping companies, including Star Bulk, which had at the time of
the Merger decreased by a greater amount than their net asset values.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The following unaudited
financial information reflects the results of operations of Oceanbulk and Pappas Companies since the acquisition date included
in the Company&#146;s consolidated statement of operations for the year ended December 31, 2014:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 4%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Oceanbulk</B></FONT></TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 4%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Pappas Companies</B></FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Voyage revenues</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">39,585 </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,249 </FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating income/(loss)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(645)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">111 </FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net loss</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4,822)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(213)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The following unaudited
pro forma consolidated financial information reflects the results of operations for the years ended December 31, 2013 and 2014,
as if the Merger and the Pappas Transaction had been consummated on January 1, 2013 and after giving effect to purchase accounting
adjustments, including the nonrecurring pro forma reversal of: (i) the gain from bargain purchase of $12,318 in 2014; (ii) all
acquisition-related transaction costs of $12,757 in 2014; and (iii) the interest expense of $1,412 in 2013 and $1,816 in 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 1, 2013. 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&nbsp;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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2014</B></FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro forma revenues </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">82,090 </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">177,654 </FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro forma operating loss</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,172)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10,296)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro forma net loss </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10,604)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(24,075)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro forma loss per share, basic and diluted </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.15)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.27)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The Heron Transaction
has been reflected in the Company&#146;s consolidated financial statements for the year ended December 31, 2014, as a purchase
of assets with the acquisition cost of the two Heron Vessels delivered on December 5, 2014, consisting of the value of the 2,115,706
common shares issued on July 11, 2014, of $25,080, and $25,000 in cash, financed by the Heron Vessels Facility (Note 17.2) being
recorded within &#147;Vessels and other fixed assets, net&#148; in the accompanying consolidated balance sheets, net of accumulated
depreciation (Note 5). As discussed above, as part of the purchase price allocation as of July 11, 2014, the Company assigned zero
value to the Heron Convertible Loan, as no economic benefit is expected to be provided to the Company from Heron&#146;s liquidation
process, since any distributable cash from the liquidation of Heron will be transferred to the former owners of Oceanbulk Shipping
and not to the Company as further discussed in Note 17.2 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On September 5, 2014,
Oceanbulk Shipping, which became, following the Merger a wholly owned subsidiary of Star Bulk, entered into a term sheet with ABY
Group Holdings Limited (&#147;ABY Group&#148;) and Heron. The term sheet provided for the conversion of the Heron Convertible
Loan. Among other things, the term sheet contained customary governance provisions and provisions relating to the liquidation of
Heron following the conversion of the Heron Convertible Loan. Under the term sheet, Oceanbulk Shipping received as a distribution
the vessels <I>Star Gwyneth (ex-ABYO Gwyneth</I>) and <I>Star Angelina (ex-ABYO Angelina</I>) (two Kamsarmax vessels of 82,790
dwt and 82,981 dwt, respectively), and ABY Group received, as a distribution, the <I>ABYO Audrey</I> (a Capesize vessel of 175,125
dwt) and the <I>ABYO Oprah</I> (a Kamsarmax vessel of 82,551 dwt). On November 5, 2014, the conversion of the Heron Convertible
Loan into 50% of the equity interests of Heron was completed. However, such conversion did not affect the Company&#146;s financial
statements since, as further discussed above and in Note 17.2, pursuant to the provisions of the Merger Agreement, the former owners
of Oceanbulk will effectively remain the ultimate beneficial owners of Heron until Heron is dissolved and any distributable cash
from the liquidation of Heron will be transferred to the former owners of Oceanbulk Shipping and not to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company incurred transaction costs
and a stock based compensation expense relating to the July 2014 Transactions of $9,364 and $1,808, respectively, which are included
in &#147;General and administrative expenses&#148; in the accompanying consolidated statement of operations for the year ended
December 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Excel Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On August 19, 2014, the
Company entered into definitive agreements with Excel Maritime Carriers Ltd. (&#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 (Note 3). The Excel Vessels were
transferred to the Company in a series of closings, on a vessel-by-vessel basis, in general upon reaching port after their current
voyages and cargoes were discharged. The last Excel Vessel was delivered to the Company in April 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the case of three Excel Vessels (<I>Star Martha </I>(ex<I> Christine</I>), <I>Star Pauline </I>(ex <I>Sandra</I>) and <I>Star Despoina
</I>(ex<I> Lowlands Beilun</I>)), which were transferred subject to existing charters, the Company acquired the outstanding equity
interests of the vessel-owning subsidiaries that own those Excel Vessels (although all other assets and liabilities of such vessel-owning
subsidiaries remained with Excel). The delivery of each Excel Vessel has been reflected in the Company&#146;s financial statements
as a purchase of assets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">At the transfer of each
Excel Vessel, the Company paid the cash and share consideration for such Excel Vessel to Excel. The Company used cash on hand,
together with borrowings under (i) a $231,000 secured bridge loan facility (the &#147;Excel Vessel Bridge Facility&#148;) provided
to the Company by Excel&#146;s majority equity holders, which are entities affiliated with Oaktree and entities affiliated
with Angelo, Gordon &amp; Co. (&#147;Angelo, Gordon&#148;), or (ii) other bank borrowings, to fund part of the cash consideration
for the acquisition of the Excel Vessels (Notes 3 and 8). Excel used the cash consideration to cause an amount of outstanding
indebtedness under its senior secured credit agreement to be repaid, such that all liens and obligations with respect to each
transferred Excel Vessel were released upon its transfer to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Below is the list of the Company&#146;s wholly
owned subsidiaries as of December 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Subsidiaries owning vessels in operation
at December 31, 2015</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 3%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 23%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 2%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 34%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 2%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 8%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 2%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Date</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 2%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 5%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Wholly Owned Subsidiaries</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Vessel Name</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>DWT</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delivered to Star Bulk</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Year Built</B></FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sea Diamond Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Goliath (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,537</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 15, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pearl Shiptrade LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Gargantua (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,529</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April 2, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Coral Cape Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Maharaj (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">209,472</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 15, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">L.A. Cape Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Deep Blue (1), (4)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,608</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">May 27, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cape Ocean Maritime LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Leviathan (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,511</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;19, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cape Horizon Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Peloreus (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,496</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;22, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Positive Shipping Company</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Indomitable (1), (4)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,476</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January 8, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">OOCape1 Holdings LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Obelix (1), (4)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">181,433</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sandra Shipco LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Pauline&nbsp;&nbsp;(ex Sandra) (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,274</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2008</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Christine Shipco LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Martha (ex Christine) (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,274</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 31, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2010</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pacific Cape Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pantagruel (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">180,181</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Borealis LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Borealis</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">179,678</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;9, 2011</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Polaris LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Polaris</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">179,600</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November&nbsp;14, 2011</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident V LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Angie (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">177,931</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sky Cape Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Big Fish (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">177,643</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Global Cape Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Kymopolia (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">176,990</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sea Cape Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Big Bang (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">174,109</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Aurora LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Aurora</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">171,199</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;8, 2010</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2000</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lowlands Beilun Shipco LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Despoina&nbsp;&nbsp;(ex Lowlands Beilun) (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">170,162</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1999</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident VII LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Eleonora (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">164,218</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 3, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident VI LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Monisha (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">164,218</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February 2, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nautical Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Amami (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Majestic Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Madredeus (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Sirius LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Sirius</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March&nbsp;7, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">25</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Vega LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Vega</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February&nbsp;13, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></TD></TR></TABLE>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="text-align: left; width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 23%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Alta I LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 34%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Angelina (3)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 8%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,981</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 19%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 5, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">27</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Alta II LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Gwyneth (3)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,790</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 5, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">28</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident&nbsp;I LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Kamila (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,769</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;3, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2005</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Grain Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pendulum (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,619</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XIX LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Maria (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,598</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 5, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XII LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Markella (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,594</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">32</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident IX LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Danai (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,574</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 21, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XI LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Georgia (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,298</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 14, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident VIII LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Sophia (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,269</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 31, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2007</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">35</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XVI LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Mariella (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,266</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;19, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">36</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XIV LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Moira (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,257</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 19, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">37</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XVIII LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Nina (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,224</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January 5, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">38</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident X LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Renee (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,221</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 18, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">39</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident&nbsp;II LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Nasia&nbsp;&nbsp;(2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,220</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August&nbsp;29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">40</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XIII LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Laura (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,209</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 8, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">41</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XV LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Jennifer (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,209</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April 15, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XVII LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Helena (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,187</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December 29, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mineral Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Mercurial Virgo (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81,545</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2013</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">KMSRX Holdings LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Magnum Opus (1), (4)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81,022</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dioriga Shipping Co.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Tsu Ebisu (1), (4)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81,001</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident&nbsp;III LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Iris (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,466</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;8, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident IV LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Aline (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,429</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;4, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XX LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Emily (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">76,417</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;16, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">49</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XXV LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Vanessa (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">72,493</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">November 7, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1999</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">50</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Spring Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Idee Fixe (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,458</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 25, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">51</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Orion Maritime LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Roberta (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,426</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">March 31, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Success Maritime LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Laura (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,399</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April 7, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ultra Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Kaley (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63,283</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 26, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">54</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Challenger&nbsp;I LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Challenger</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,462</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;12, 2013</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2012</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Challenger&nbsp;II LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Fighter</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,455</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;30, 2013</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2013</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Aurelia Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Honey Badger (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,320</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February 27, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">57</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rainbow Maritime LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Wolverine (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,292</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">February 27, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">58</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Axe&nbsp;I LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Antares</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61,258</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 9, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Asia&nbsp;I LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Aquarius</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">60,916</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July 22, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">60</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Asia&nbsp;II LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Pisces</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">60,916</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 7, 2015</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">61</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Glory Supra Shipping LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Strange Attractor (1)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,742</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;11, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">62</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Omicron LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Omicron</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,489</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April&nbsp;17, 2008</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2005</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">63</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Gamma LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Gamma </I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,098</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January&nbsp;4, 2008</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2002</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">64</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Zeta LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Zeta </I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,994</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January&nbsp;2, 2008</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2003</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">65</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Delta LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Delta </I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,434</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">January&nbsp;2, 2008</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2000</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">66</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Theta LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Theta </I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,425</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;6, 2007</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2003</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></TD></TR></TABLE>

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="text-align: left; width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">67</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 23%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Epsilon LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 34%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Epsilon </I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 8%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,402</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 19%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;3, 2007</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">68</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Cosmo LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Cosmo</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,246</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">July&nbsp;1, 2008</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2005</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">69</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Kappa LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Kappa</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,055</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;14, 2007</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2001</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">70</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Star Trident XXX LLC</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Star Michele (2)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45,588</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">October 14, 2014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1998</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total dwt</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7,362,579</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Vessels acquired pursuant to the Merger and the Pappas
Transaction</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Vessels acquired pursuant to the Excel Transactions</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Vessels acquired from Heron</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Vessels agreed
                                         to be sold (Note 20) </TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Subsidiaries owning newbuildings
at December 31, 2015</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><B></B></P>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr>
    <TD STYLE="vertical-align: bottom; background-color: white; width: 3%; padding-right: 6pt">&nbsp;</td>
    <td style="font-weight: bold; vertical-align: middle; width: 27%">Wholly Owned Subsidiaries</td>
    <td style="font-weight: bold; vertical-align: middle; width: 36%">Newbuildings Name</td>
    <td style="font-weight: bold; vertical-align: middle; width: 13%">Type</td>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center; width: 8%">DWT</td>
    <td style="font-weight: bold; vertical-align: middle; text-align: center; width: 13%">Expected Delivery<BR>
Date</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">1</td>
    <td style="text-align: justify">Star Ennea LLC</td>
    <td style="text-align: justify">HN NE 198 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Poseidon</i><font style="font-style: normal">) (Note 20)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">209,000</td>
    <td style="text-align: center">February 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">2</td>
    <td style="text-align: justify">Star Seeker LLC</td>
    <td style="text-align: justify">HN 1372 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Libra</i><font style="font-style: normal">) (5)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">April 2016</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">3</td>
    <td style="text-align: justify">Clearwater Shipping LLC</td>
    <td style="text-align: justify">HN 1359 (tbn <FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><I>Star Marisa</I><FONT STYLE="font-style: normal">)
    (5) (Note 20)</FONT></FONT></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">March 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">4</td>
    <td style="text-align: justify">Star Castle&nbsp;I LLC</td>
    <td style="text-align: justify">HN 1342 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Gemini</i><font style="font-style: normal">)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">July 2017</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">5</td>
    <td style="text-align: justify">Domus Shipping LLC</td>
    <td style="text-align: justify">HN 1360 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Ariadne</i><font style="font-style: normal">) (5)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">February 2017</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">6</td>
    <td style="text-align: justify">Star Breezer LLC</td>
    <td style="text-align: justify">HN 1371 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Virgo</i><font style="font-style: normal">) (5)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">January 2017</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">7</td>
    <td style="text-align: justify">Star Castle&nbsp;II LLC</td>
    <td style="text-align: justify">HN 1343 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Leo</i><font style="font-style: normal">) (7)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">January 2018</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">8</td>
    <td style="text-align: justify">Festive Shipping LLC</td>
    <td style="text-align: justify">HN 1361 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Magnanimus</i><font style="font-style: normal">) (5)</font></font></td>
    <td style="text-align: justify">Newcastlemax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">208,000</td>
    <td style="text-align: center">January 2018</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">9</td>
    <td style="text-align: justify">Cape Confidence Shipping LLC</td>
    <td style="text-align: justify">HN 5055 <FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><I>(</I><FONT STYLE="font-style: normal">tbn
    </FONT></FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Behemoth) </I><FONT STYLE="font-style: normal">(6)</FONT></FONT></td>
    <td style="text-align: justify">Capesize</td>
    <TD STYLE="text-align: right; padding-right: 18pt">182,000</td>
    <td style="text-align: center">January 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">10</td>
    <td style="text-align: justify">Cape Runner Shipping LLC</td>
    <td style="text-align: justify">HN 5056 <font style="font: normal 10pt Times New Roman, Times, Serif"><i>(</i><font style="font-style: normal">tbn</font></font><font style="font: 10pt Times New Roman, Times, Serif"><i> Megalodon) </i><font style="font-style: normal">(6)</font></font></td>
    <td style="text-align: justify">Capesize</td>
    <TD STYLE="text-align: right; padding-right: 18pt">182,000</td>
    <td style="text-align: center">January 2016</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">11</td>
    <td style="text-align: justify">Olympia Shiptrade LLC</td>
    <td style="text-align: justify">HN 1312 <font style="font: normal 10pt Times New Roman, Times, Serif"><i>(</i><font style="font-style: normal">tbn</font></font><font style="font: 10pt Times New Roman, Times, Serif"><i> Bruno Marks) </i><font style="font-style: normal">(6)</font></font></td>
    <td style="text-align: justify">Capesize</td>
    <TD STYLE="text-align: right; padding-right: 18pt">180,000</td>
    <td style="text-align: center">January 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">12</td>
    <td style="text-align: justify">Victory Shipping LLC</td>
    <td style="text-align: justify">HN 1313 <font style="font: normal 10pt Times New Roman, Times, Serif"><i>(</i><font style="font-style: normal">tbn</font></font><font style="font: 10pt Times New Roman, Times, Serif"><i> Jenmark)</i><font style="font-style: normal"> (6)</font></font></td>
    <td style="text-align: justify">Capesize</td>
    <TD STYLE="text-align: right; padding-right: 18pt">180,000</td>
    <td style="text-align: center">March 2016</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">13</td>
    <td style="text-align: justify">Star Cape&nbsp;I LLC</td>
    <td style="text-align: justify">HN 1338 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Aries</i><font style="font-style: normal">) (6)</font></font></td>
    <td style="text-align: justify">Capesize</td>
    <TD STYLE="text-align: right; padding-right: 18pt">180,000</td>
    <td style="text-align: center">February 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">14</td>
    <td style="text-align: justify">Star Cape&nbsp;II LLC</td>
    <td style="text-align: justify">HN 1339 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Taurus</i><font style="font-style: normal">) (6)</font></font></td>
    <td style="text-align: justify">Capesize</td>
    <TD STYLE="text-align: right; padding-right: 18pt">180,000</td>
    <td style="text-align: center">April 2016</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">15</td>
    <td style="text-align: justify">Blooming Navigation LLC</td>
    <td style="text-align: justify">HN 1080 <font style="font: normal 10pt Times New Roman, Times, Serif"><i>(</i><font style="font-style: normal">tbn</font></font><font style="font: 10pt Times New Roman, Times, Serif"><i> Kennadi) </i><font style="font-style: normal">(Note 20)</font></font></td>
    <td style="text-align: justify">Ultramax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">64,000</td>
    <td style="text-align: center">January 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">16</td>
    <td style="text-align: justify">Jasmine Shipping LLC</td>
    <td style="text-align: justify">HN 1081 <FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><I>(</I><FONT STYLE="font-style: normal">tbn
    </FONT></FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Mackenzie)</I></FONT> (Note 20)</td>
    <td style="text-align: justify">Ultramax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">64,000</td>
    <td style="text-align: center">March 2016</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">17</td>
    <td style="text-align: justify">Oday Marine LLC</td>
    <td style="text-align: justify">HN 1082 <font style="font: normal 10pt Times New Roman, Times, Serif"><i>(</i><font style="font-style: normal">tbn</font></font><font style="font: 10pt Times New Roman, Times, Serif"><i> Night Owl)</i></font></td>
    <td style="text-align: justify">Ultramax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">64,000</td>
    <td style="text-align: center">March 2016</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white; padding-right: 6pt">18</td>
    <td style="text-align: justify">Searay Maritime LLC</td>
    <td style="text-align: justify">HN 1083 <font style="font: normal 10pt Times New Roman, Times, Serif"><i>(</i><font style="font-style: normal">tbn</font></font><font style="font: 10pt Times New Roman, Times, Serif"><i> Early Bird)</i></font></td>
    <td style="text-align: justify">Ultramax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">64,000</td>
    <td style="text-align: center">April 2016</td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <TD STYLE="text-align: right; padding-right: 6pt">19</td>
    <td style="text-align: justify">Star Axe&nbsp;II LLC</td>
    <td style="text-align: justify">HN NE 197 (tbn <font style="font: normal 10pt Times New Roman, Times, Serif"><i>Star Lutas</i><font style="font-style: normal">) (Note 20)</font></font></td>
    <td style="text-align: justify">Ultramax</td>
    <TD STYLE="text-align: right; padding-right: 18pt">61,000</td>
    <td style="text-align: center">January 2016</td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Subject to a bareboat capital lease (Note 6)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(6)</TD><TD STYLE="text-align: justify">Newbuilding vessels
                                         agreed to be sold (Note 20) <FONT STYLE="background-color: yellow"></FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(7)</TD><TD STYLE="text-align: justify">Newbuilding vessel agreed to be sold and chartered back
under a capital lease (Note 6)</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Non-vessel owning subsidiaries at
December 31, 2015</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Wholly Owned Subsidiaries</B></FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Bulk Management Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Starbulk S.A.</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Bulk Manning LLC</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Bulk Shipmanagement Company (Cyprus) Limited</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Optima Shipping Limited</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Omas LLC </FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Synergy LLC </FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Oceanbulk Shipping LLC</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Oceanbulk Carriers LLC</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">International Holdings LLC</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unity Holding LLC</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Bulk (USA) LLC</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXI LLC (8)<SUP> </SUP></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXIV LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXVII LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXXI LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXIX LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXVIII LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXVI LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lamda LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXII LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Trident XXIII LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Alpha LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Beta LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Ypsilon LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Mega LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Star Big LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gravity Shipping LLC (8)</FONT></TD></TR>
<TR STYLE="background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">White Sand Shipping LLC (8)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Premier Voyage LLC (8)</FONT></TD></TR>
</TABLE>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(8)</TD><TD STYLE="text-align: justify">Owning companies of vessels which have been sold and currently
have no operations</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Below is the list of
the vessels which were under commercial and technical management by Star Bulk&#146;s wholly owned subsidiary, Starbulk S.A., during
the year ended December 31, 2014. For each vessel, Starbulk S.A. received a fixed management fee of $0.75 per day. Only the vessel
<I>Serenity I</I>, listed in the below table, was under Starbulk S.A&#146;s commercial and technical management during the year
ended December 31, 2015. As of October 1, 2015, the management fee that the Company received for Serenity I was changed to $0.50
per day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vessel Owning Company</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vessel
Name</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DWT&nbsp;</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Effective
Date</P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of Management</P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Agreement</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Year Built</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Global Cape Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Kymopolia</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">176,990</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">January&nbsp;30, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">OOCAPE1 Holdings LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Obelix</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">181,433</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">October&nbsp;19, 2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pacific Cape Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Pantagruel</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">180,181</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">October&nbsp;24, 2013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sea Cape Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Big Bang</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">174,109</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">August&nbsp;30, 2013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2007</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sky Cape Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Big Fish</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">177,643</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">October&nbsp;18, 2013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2004</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Majestic Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Madredeus</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">February&nbsp;4, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nautical Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Amami</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">98,681</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">February&nbsp;4, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2011</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Grain Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Pendulum</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">82,619</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">February&nbsp;17, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mineral Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Mercurial Virgo</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">81,545</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">February&nbsp;17, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2013</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Adore Shipping Corp.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Renascentia</I>
    (11)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">74,732</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">June 20, 2013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1999</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hamon Shipping Inc</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Marto</I> (12)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">74,470</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">August&nbsp;2, 2013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2001</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Glory Supra Shipping LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Strange Attractor</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">55,742</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">September&nbsp;24, 2013</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2006</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCECFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Premier Voyage LLC (10)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Maiden Voyage</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">58,722</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">September&nbsp;28, 2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2012</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Serenity Maritime Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Serenity I</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">53,688</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">June&nbsp;11, 2011</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2006</FONT></TD></TR>
</TABLE>
<P></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(10)</TD><TD STYLE="text-align: justify">These companies were subsidiaries of Oceanbulk and related
parties to the Company (please refer to Note 3), which became wholly owned subsidiaries following the completion of the Merger
on July&nbsp;11, 2014, when the respective management agreements were terminated.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(11)</TD><TD STYLE="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>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(12)</TD><TD STYLE="text-align: justify">On July&nbsp;3, 2014, the Company received a notice of
termination of the management agreement for this vessel. The management agreement was terminated upon the vessel&#146;s delivery
to its new managers, on August&nbsp;20, 2014. The Company received management fees for a period of three months following the
termination date, in accordance with the terms of the management agreement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Below is the vessel which
was chartered in as part of the sale and leaseback transaction that the Company has entered into for the previously owned vessel
Maiden Voyage, which is currently named <I>Astakos</I> (Note 5).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Vessel Name</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Type</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>DWT</U></B></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Year Built</U></B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Astakos</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Supramax</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">58,722</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2012</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total dwt:</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>58,722</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Basis of Presentation and General Information &ndash;
(continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No charterer accounted for more than 10%
of the Company&#146;s voyage revenue in 2015. Charterers who individually accounted for more than 10% of the Company&#146;s voyage
revenues during the years ended December 31, 2013, 2014 are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Charterer</B></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2013</B></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2015</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4%</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">B</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">34%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">The
outstanding accounts receivable balance as at December 31, 2015 of these charterers was $456.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Significant Accounting policies:</B></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>a)</I></B></TD><TD STYLE="text-align: justify"><B><I>Principles of consolidation:</I></B> The accompanying
consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United
States of America (&#147;U.S. GAAP&#148;), which include the accounts of Star Bulk and its wholly owned subsidiaries referred
to in Note 1 above. All intercompany balances and transactions have been eliminated in the consolidation.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Star Bulk as the holding company
determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest
entity or a variable interest entity. Under ASC 810 &#147;Consolidation&#148;, a voting interest entity is an entity in which
the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity
holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions.
Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of
the voting interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">A variable interest entity (&#147;VIE&#148;)
is an entity as defined under ASC 810-10, which in general either does not have equity investors with voting rights or has equity
investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial
interest in a VIE is present when a company absorbs a majority of an entity&#146;s expected losses, receives a majority of an
entity&#146;s expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary,
is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to
determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in
its consolidated financial statements. As of December 31, 2013, 2014 and 2015, no such interest existed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>b)</I></B></TD><TD STYLE="text-align: justify"><B><I>Equity method investments: </I></B>Investments in the equity of entities over which the Company
exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this
method, the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses
of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates
whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value
might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an
earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the
investment. When the Company&#146;s share of losses in an entity accounted for by the equity method equals or exceeds its interest
in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made
payments on behalf of the entity.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0"></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD><B>Significant Accounting policies  &ndash;
(continued):</B></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>c)</I></B></TD><TD STYLE="text-align: justify"><B><I>Use of estimates: </I></B>The preparation of the accompanying consolidated financial statements
in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates
under different assumptions or conditions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>d)</I></B></TD><TD STYLE="text-align: justify"><B><I>Comprehensive income/(loss): </I></B>The statement of comprehensive income/(loss) presents
the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources.
It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to
shareholders. Reclassification adjustments are presented out of accumulated other comprehensive income/(loss) on the face of
the statement in which the components of other comprehensive income/(loss) are presented or in the notes to the financial statements.
The Company follows the provisions of ASC 220 &#147;Comprehensive Income&#148;, and presents items of net income/(loss), items
of other comprehensive income/(loss) (&#147;OCI&#148;) and total comprehensive income/(loss) in two separate and consecutive
statements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>e)</I></B></TD><TD STYLE="text-align: justify"><B><I>Concentration of credit risk: </I></B>Financial instruments, which potentially subject the
Company to significant concentrations of credit risk, consist principally of cash and cash equivalents and restricted cash, trade
accounts receivable and derivative contracts (including freight derivatives, bunker derivatives and interest rate swaps). The Company&#146;s
policy is to place cash and cash equivalents, and restricted cash with financial institutions evaluated as being creditworthy and
are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance
by counter parties to derivative instruments. To decrease this risk, the Company limits its exposure in over-the-counter transactions
by diversifying among counter parties with high credit ratings, and selects freight derivatives, if any, that clear through the
London Clearing House. The Company performs periodic evaluations of the relative credit standing of those financial institutions.
In addition the Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers&#146;
financial condition.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>f)</I></B></TD><TD STYLE="text-align: justify"><B><I>Foreign currency transactions:</I></B> The functional currency of the Company is the U.S.
Dollar since its vessels operate in the international shipping markets, and therefore primarily transact business in U.S. Dollars.
The Company&#146;s books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period
are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance
sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the
period-end exchange rates. Resulting gains or losses are included in &#147;Interest and other income&#148; in the accompanying
consolidated statements of operations.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>g)</I></B></TD><TD STYLE="text-align: justify"><B><I>Cash and cash equivalents:</I></B> The Company considers highly liquid investments such as
time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>h)</I></B></TD><TD STYLE="text-align: justify"><B><I>Restricted cash</I>:
                                         </B>Restricted cash represents minimum cash deposits or cash collateral deposits required
                                         to be maintained with certain banks under the Company&#146;s borrowing arrangements,
                                         which are legally restricted as to withdrawal or use. In the event that the obligation
                                         to maintain such deposits is expected to be terminated within the next twelve months,
                                         these deposits are classified as current assets. Otherwise, they are classified as non-current
                                         assets.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>i)</I></B></TD><TD STYLE="text-align: justify"><B><I>Trade accounts receivable, net: </I></B>The amount shown as Trade accounts receivable, net,
at each balance sheet date, includes estimated amounts recovered from each voyage or time charter net of any provision for doubtful
debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables.
As of December 31, 2014 and 2015, provision for doubtful receivables was nil.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD><B>Significant Accounting policies &ndash;
(continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>j)</I></B></TD><TD STYLE="text-align: justify"><B><I>Inventories:</I></B> Inventories consist of consumable lubricants and bunkers, which are
stated at the lower of cost or market value. Cost is determined by the first in, first out method.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>k)</I></B></TD><TD STYLE="text-align: justify"><B><I>Vessels, net: </I></B>Vessels are stated at cost, which consists of the purchase price and
any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures
to prepare the vessel for its initial voyage. Any subsequent expenditure, when it does not extend the useful life of the vessel,<FONT STYLE="background-color: white">
</FONT>increase the earning capacity or improve the efficiency or safety of the vessel, is expensed as incurred.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify">The cost of each of the Company&#146;s vessels is depreciated beginning when the vessel is ready
for its intended use, on a straight-line basis over the vessel&#146;s remaining economic useful life, after considering the estimated
residual value (vessel&#146;s residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton).
Management estimates the useful life of the Company&#146;s vessels to be 25 years from the date of initial delivery from the shipyard.
When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted
at the date such regulations are adopted.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Effective as of January&nbsp;1,
2015, following management&#146;s reassessment of the residual value of the Company&#146;s vessels, the Company increased the
estimated scrap rate per light weight tonnage 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 change in this accounting estimate, which pursuant to ASC 250 &#147;Accounting
Changes and Error Corrections&#148; was applied prospectively and did not require retrospective application, decreased the depreciation
expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>l)</I></B></TD><TD STYLE="text-align: justify"><B><I>Advances for vessels under construction:</I></B> Advances made to shipyards during construction
periods are classified as &#147;Advances for vessels under construction and acquisition of vessels&#148; until the date of delivery
and acceptance of the vessel, at which date they are reclassified to &#147;Vessels and other fixed assets, net&#148;. Advances
for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and
other expenses directly related to the construction of the vessel or the preparation of the vessel for its initial voyage. Financing
costs incurred during the construction period of the vessels are also capitalized and included in the vessels&#146; cost.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>m)</I></B></TD><TD STYLE="text-align: justify"><B><I>Fair value of above/below market acquired time charter:</I> </B> The Company values any asset
or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below
market acquired time charters is determined by comparing the existing charter rates in the acquired time charter agreements with
the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. Such intangible
asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>n)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Impairment of long-lived assets:
</I></B>The Company follows guidance related to the Impairment or Disposal of long-lived assets which addresses financial accounting
and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable
intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the
carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges,
expected to be generated by the use and eventual disposition of the asset is less than its carrying amount, the Company should
evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. </FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market
data and taking into consideration agreed sale prices and third party valuations.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD><B>Significant Accounting policies &ndash;
(continued):</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In this respect, the
management regularly reviews the carrying amount of the vessels, including newbuilding contracts, on a vessel-by-vessel
basis, when events and circumstances indicate that the carrying amount of the vessels or newbuilding contracts might not be
recoverable (such as vessel sales and purchases, business plans, obsolescence or damage to the asset and overall market
conditions). When impairment indicators are present, the Company compares undiscounted cash flows to the carrying values of
the Company&#146;s vessels to determine if the assets are impaired. In developing its estimates of future undiscounted net
operating cash flows, the Company makes assumptions and estimates about vessels&#146; future performance, with the
significant assumptions being related to charter rates, ship operating expenses, vessels&#146; residual value, fleet
utilization and the estimated remaining useful lives of the vessels, assumed to be 25 years from the delivery of the vessel
from the shipyard. These assumptions are based on current market conditions, historical industry and Company specific trends,
as well as future expectations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The undiscounted projected net
operating cash flows are determined by considering the charter revenues from existing time charters for the fixed vessel days and
an estimated daily time charter equivalent rate for the unfixed days over the estimated remaining economic life of each vessel,
net of brokerage and address commissions. Estimates of the daily time charter equivalent for the unfixed days are based on the
current Forward Freight Agreement (&#147;FFA&#148;) rates, for the first three-year period, and historical average rate levels
of similar size vessels for the period thereafter. The expected cash inflows from charter revenues are based on an assumed fleet
utilization rate of approximately 98% for the unfixed days, taking into account that assumed charter rates are based on time charter
equivalent rates, which include the ballast and laden portion of each relevant voyage. In assessing expected future cash outflows,
management forecasts vessel operating expenses, which are based on the Company&#146;s internal budget for the first annual period
and thereafter assume an annual inflation rate of 3% (escalating during the first three-year period), as well as vessel expected
maintenance costs (for dry docking and special surveys). The estimated salvage value of each vessel is $0.3 per light weight ton,
in accordance with the Company&#146;s vessel depreciation policy. The Company uses a probability weighted approach for developing
estimates of future cash flows used to test its vessels for recoverability when alternative courses of action are under consideration
(i.e. sale or continuing operation of a vessel). If the Company&#146;s estimate of undiscounted future cash flows for any vessel
is lower than the vessel&#146;s carrying value, the carrying value is written down to the vessel&#146;s fair market value with
a charge recorded in earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Using the framework for estimating
projected undiscounted net operating cash flows described above, the Company completed its impairment analysis for the years ended
December 31, 2013, 2014 and 2015, for those operating vessels and newbuildings whose carrying values were above their respective
market values. For 2013 and 2014, no asset impairment was necessary. An impairment loss of $321,978 was recognized for the year
ended December 31, 2015, which resulted primarily from the Company&#146;s actual and intended vessel sales that are further discussed
in Notes 5 and 6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Significant Accounting policies &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>o)</I></B></TD><TD STYLE="text-align: justify"><B><I>Vessels held for sale: </I></B>It is the Company&#146;s policy to dispose of vessels when
suitable opportunities occur. The Company classifies a vessel as being held for sale when all of the following criteria, enumerated
under ASC 360 &#147;Property, Plant, and Equipment&#148;, are met: (i) management has committed to a plan to sell the vessel;
(ii) the vessel is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions
required to complete the plan to sell the vessel have been initiated; (iv) the sale of the vessel is probable, and transfer of
the asset is expected to qualify for recognition as a completed sale within one year; (v) the vessel is being actively marketed
for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate
that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Vessels classified as held for
sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded
under &#147;Impairment loss&#148; in the accompanying consolidated statement of operations. The vessels are not depreciated once
they meet the criteria to be classified as held for sale. At December 31, 2014 and 2015, there were no vessels that met the criteria
to be classified as held for sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>p)</I></B></TD><TD STYLE="text-align: justify"><B><I>Financing costs:</I></B> Fees paid to lenders or required to be paid to third parties on
the lenders&#146; behalf for obtaining new loans, senior notes or for refinancing or amending existing loans, are recorded as
deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the
duration of the relevant loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in
the period in which the repayment or refinancing is made, subject to the guidance regarding <I>Debt Extinguishment</I>. Any unamortized
balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit
facilities refinanced is deferred and amortized over the term of the relevant credit facility in the period in which the refinancing
occurs<I>.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>q)</I></B></TD><TD STYLE="text-align: justify"><B><I>Pension indemnities: </I></B>Administrative employees are covered by state-sponsored pension
funds of Greece. Both employees and the Company are required to contribute a portion of the employees&#146; gross salary to the
fund. The related expense is recorded under &#147;General and administrative expenses&#148; in the accompanying consolidated
statements of operations and the corresponding liability at each period end is reflected within &#147;Accounts payable&#148;
in the accompanying consolidated balance sheets. Upon retirement, the state-sponsored pension funds are responsible for paying
the employees retirement benefits without recourse to the Company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Significant Accounting policies &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>r)</I></B></TD><TD STYLE="text-align: justify"><B><I>Stock incentive plan awards: </I></B>Stock based
compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for
their services, and is included in &#147;General and administrative expenses&#148; in the consolidated statements of operations.
The shares are measured at their fair value equal to the market value of the Company&#146;s common stock on the grant date. The
shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such
shares is expensed on the grant date. Guidance related to stock compensation describes two generally accepted methods of recognizing
expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the &#146;&#145;accelerated
method&#146;&#146;, which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the
costs of the award and 2) the &#146;&#146;straight-line method&#146;&#146; which treats such awards as a single award and
results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting
condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated
method.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The fair value of share options
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>s)</I></B></TD><TD STYLE="text-align: justify"><B><I>Dry docking and special survey expenses: </I></B>Dry docking and special survey expenses
are expensed when incurred.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>t)</I></B></TD><TD STYLE="text-align: justify"><B><I>Accounting for revenue and related expenses: </I></B>The Company generates its revenues from
charterers for the charterhire of its vessels under time charter agreements, where a contract is entered into for the use of a
vessel for a specific period of time and a specified daily charterhire rate, or voyage charter agreements, where a contract is
made in the spot market for the use of a vessel for a specific voyage at a specified freight rate per ton.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Under time charter agreements,
voyage costs, such as fuel and port charges are borne and paid by the charterer. Company&#146;s time charter agreements are classified
as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate
is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured.
Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with
guidance related to leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Revenue from voyage charter agreements
is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne
and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel
owner when loading or discharging time exceeds the stipulated time in the voyage charter agreements and is recognized when an arrangement
exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue
includes cash received prior to the balance sheet date and is related to revenue to be earned after such date. The portion of the
deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any)
as long term liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Vessel operating expenses include
crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs
of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Payments
in advance for services are recorded as prepaid expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Significant Accounting policies &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Voyage expenses consist of bunker
consumption, port expenses and agency fees related to the voyage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Brokerage commissions are paid
by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses
and vessel operating expenses are recognized as incurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Expenses related to the chartering-in
of vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage, except for the hire expense
for chartering-in the respective vessels, which is included within &#147;Charter in hire expense&#148; in the consolidated statement
of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>u)</I></B></TD><TD STYLE="text-align: justify"><B><I>Fair value measurements: </I></B>The Company follows the provisions of ASC 820, &#147;Fair
Value Measurements and Disclosures&#148; that defines and provides guidance as to the measurement of fair value. ASC 820 creates
a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest
priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the
reporting entity&#146;s own data. Under the standard, fair value measurements are separately disclosed by level within the fair
value hierarchy (Note 19).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>v)</I></B></TD><TD STYLE="text-align: justify"><B><I>Earnings/ (loss)
per share:</I></B> Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings
or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average
number of common shares outstanding and vested during the period. Diluted earnings per share reflect the potential dilution assuming
that common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and the hypothetical
proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to
purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note
14).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>w)</I></B></TD><TD STYLE="text-align: justify"><B><I>Segment reporting:</I></B> The Company reports financial information and evaluates its operations
and operating results by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of
charter. As a result, management, including the Chief Operating Officer, who is the chief operating decision maker, reviews operating
results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under
one reportable segment, that of operating dry bulk vessels. Furthermore, when the Company charters a vessel to a charterer, the
charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure
of geographic information is impracticable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>x)</I></B></TD><TD STYLE="text-align: justify"><B><I>Accounting for leases:
                                         </I></B>Leases of assets under which substantially all the risks and rewards of ownership
                                         are effectively retained by the lessor are classified as operating leases. Lease payments
                                         under an operating lease are recognized as an expense on a straight-line method over
                                         the lease term. As of December 31, 2015, the Company held no operating lease arrangements
                                         acting as lessee other than its office leases and an operating lease arrangement for
                                         one Supramax vessel (Note 5).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Leases of vessels are classified
as capital leases when they satisfy the criteria for capital lease classification under ASC 840, &#147;Leases&#148;. As of December
31, 2015 the Company was the lessee under certain capital lease arrangements as further discussed in Notes 5 and 6. 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 incurred under a capital lease is included within &#147;Interest and finance costs&#148;
in the consolidated statement of operations. The depreciation of vessels under capital lease is included within &#147;Depreciation&#148;
in the consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">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, vessels under capital lease are depreciated on a straight-line basis
over the term of the lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Significant Accounting policies &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>y)</I></B></TD><TD STYLE="text-align: justify"><B><I>Derivatives:</I></B>
                                         The Company enters into derivative financial instruments to manage risk related to fluctuations
                                         of interest rates. In case the instruments are eligible for hedge accounting, at the
                                         inception of a hedge relationship, the Company formally designates and documents the
                                         hedge relationship to which the Company wishes to apply hedge accounting and the risk
                                         management objective and strategy undertaken for the hedge. The documentation includes
                                         identification of the hedging instrument, the hedged item or transaction, the nature
                                         of the risk being hedged and how the entity will assess the hedging instrument&#146;s
                                         effectiveness in offsetting exposure to changes in the hedged item&#146;s cash flows
                                         attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability
                                         in cash flows that is attributable to a particular risk associated with a recognized
                                         asset or liability, or a highly probable forecasted transaction that could affect profit
                                         or loss. Such hedges are expected to be highly effective in achieving offsetting changes
                                         in cash flows and are assessed at each reporting date to determine whether they actually
                                         have been highly effective throughout the financial reporting periods for which they
                                         were designated. All derivatives are recorded on the balance sheet as assets or liabilities
                                         and are measured at fair value. For derivatives designated as cash flow hedges, the effective
                                         portion of the changes in their fair value is recorded in Accumulated other comprehensive
                                         income / (loss) and is subsequently recognized in earnings, under &#147;Interest and
                                         finance costs&#148; when the hedged items impact earnings, while the ineffective portion,
                                         if any, is recognized immediately in current period earnings under &#147;Gain / (Loss)
                                         on derivative financial instruments, net&#148;.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The changes in the fair value
of derivatives not qualifying for hedge accounting are recognized in earnings. The Company discontinues cash flow hedge accounting
if the hedging instrument expires or is sold, terminated or exercised and it no longer meets all the criteria for hedge accounting
or if the Company de-designates the instrument as a cash flow hedge. At that time, any cumulative gain or loss on the hedging instrument
recognized in equity remains in equity until the forecasted transaction occurs or until it becomes probable of not occurring. When
the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in earnings. If a hedged
transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is reclassified to earnings for
the year. Following the hedging designations made during the third quarter of 2014 (Note 19), all of the Company&#146;s interest
rates swaps effective as of December 31, 2014 were designated as accounting hedges. Only four out of the nine of the Company&#146;s
interest rate swaps effective as of December 31, 2015 remained designated as accounting hedges as of that date. No hedge accounting
was applied in prior periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>z)</I></B></TD><TD STYLE="text-align: justify"><B><I>Recent accounting
                                         pronouncements &ndash; not yet adopted:</I></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Revenue
from Contracts with Customers (Topic 606):</I></B> On May 28, 2014, the FASB issued Accounting Standards
Update (&#147;ASU&#148;) 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 (Topic 606)</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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"><B><I>Presentation
of Financial Statements - Going Concern:</I></B> In August 2014, the FASB issued ASU 2014-15, <I>Presentation
of Financial Statements - Going Concern</I>. ASU 2014-15 provides guidance about management&rsquo;s responsibility to
evaluate whether there is substantial doubt about an entity&rsquo;s ability to continue as a going concern and to provide
related footnote disclosures. ASU 2014-15 requires an entity&rsquo;s management to evaluate at each reporting period based on
the relevant conditions and events that are known at the date when financial statements are issued, whether there are
conditions or events, that raise substantial doubt about the entity&rsquo;s ability to continue as a going concern within one
year after the date that the financial statements are issued and to disclose the necessary information. The guidance is
effective for annual periods ending after December&nbsp;15, 2016, and for annual periods and interim periods thereafter.
Early application is permitted. The adoption of this ASU is not expected to have a material effect on the Company&rsquo;s
consolidated financial statements and accompanying notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Significant Accounting policies &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Simplifying
the Presentation of Debt Issuance Costs:</I></B> In April&nbsp;2015, the FASB issued ASU No. 2015-03, <I>Interest&mdash;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 existing 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&#146;s
financial statements and accompanying notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"><B><I>Consolidation (Topic
810) - Amendments to the Consolidation Analysis:</I></B> In February&nbsp;2015, the FASB issued ASU 2015-02, &ldquo;Consolidation
(Topic 810) - Amendments to the Consolidation Analysis&rdquo;, which provides guidance for reporting entities that are required
to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject
to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods,
and interim periods within those annual periods, beginning after December&nbsp;15, 2015. Early adoption is permitted. The Company
is currently in the process of evaluating the impact of the adoption of ASU 2015-02 on the consolidated financial statements.&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Technical
Corrections and Improvements:</I></B> In June&nbsp;2015, FASB issued ASU No. 2015-10, <I>Technical Corrections and Improvements.
</I>The amendments in ASU 2015-10 cover a wide range of Topics in the ASC. The amendments in this update 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 ASU 2015-10, 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&#146;s end as well as the date or period that
the measurement was taken. Transition guidance varies based on the amendments in ASU 2015-10. The amendments that require transition
guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December
15, 2015, and early adoption of those amendments is permitted, including adoption in an interim period. While the Company has
not yet adopted the amendments of ASU 2015-10 that require transition guidance, their adoption is not expected to have a material
effect on the Company&#146;s financial statements and accompanying notes. All other amendments were effective upon the issuance
of ASU 2015-10. The adoption of those amendments has not had a material effect on the Company&#146;s financial statements and
accompanying notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Simplifying
the Measurement of Inventory:</I></B><I> </I>In July 2015, the FASB issued ASU No. 2015-11, &#147;<I>Simplifying the measurement
of inventory</I>&#148;. ASC 330, &#147;Inventory&#148;, 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 ASU 2015-11 require an entity to measure inventory within the scope of ASU 2015-11 at the lower of cost
and net realizable value. &nbsp;For public business entities, the amendments are effective for fiscal years beginning after December
15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 are to be applied prospectively, with
earlier application permitted as of the beginning of an interim or annual reporting period. While the Company has not yet adopted
ASU 2015-11, its adoption is not expected to have a material effect on the Company&#146;s financial statements and accompanying
notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Leases:
</I></B>In February 2016, the FASB issued Accounting Standards Update No. 2016-02, &#147;Leases (Topic 842)&#148;. ASU 2016-02
will apply to both types of leases &ndash; capital (or finance) leases and operating leases. According to the new Accounting Standard,
lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all
leases with term of more than 12 months. ASU 2016 &ndash; 02 is effective for fiscal years beginning after December 15, 2018, including
interim periods within those fiscal years. Early application is permitted. The Company is currently assessing the impact that adopting
this new accounting guidance will have on its consolidated financial statements and footnotes disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Transactions and balances with related
parties are analyzed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify">Balance Sheet</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%; text-align: left">Oceanbulk Maritime S.A. and its affiliates (d)</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">241</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">1,209</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Product Shipping &amp; Trading S.A (f)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">245</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,209</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Interchart Shipping Inc. (a)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Combine Marine Ltd (c)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Oceanbulk Maritime S.A. and its affiliates (d)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Management and Directors Fees (b)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">462</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">315</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Managed Vessels of Oceanbulk Shipping LLC (e )</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Oceanbulk Sellers (Note 17.2)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,689</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">50</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total Liabilities</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,166</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">422</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Excel Vessel Bridge Facility &ndash; current portion (h)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,168</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Excel Vessel Bridge Facility &ndash; non current portion (h)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">47,993</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total Excel Vessel Bridge Facility<font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">56,161</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 11%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 11%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Capitalized Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Advances for vessels under construction and acquisition of vessels</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (d)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,038</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,318</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 11%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 11%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 11%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Statements of Operations</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: red; font-style: italic; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="color: red; font-style: italic; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="color: red; font-style: italic; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="color: red; font-style: italic; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="color: red; font-style: italic; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="color: red; font-style: italic; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: red; font-style: italic; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Commission on sale of vessel-Oceanbulk (d)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(90</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Executive directors consultancy fees (b)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(528</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,516</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(633</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Non-executive directors compensation (b)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(114</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(191</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(160</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Office rent - Combine Marine Ltd. (c )</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(41</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(42</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Voyage expenses-Interchart (a)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(773</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,997</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,350</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Management fee expense - Oceanbulk Maritime S.A. (d)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(158</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Management fee expense - Maryville Maritime Inc. (j)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(35</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(451</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest on Excel Vessel Bridge Facility (h)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,659</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(220</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Management fee income - Oceanbulk Maritime S.A. (d)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Management fee income - Managed Vessels of Oceanbulk Shipping LLC (e )</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">823</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,390</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Management fee income Product Shipping &amp; Trading S.A. (f)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(a)</B></TD><TD STYLE="text-align: justify"><B>Interchart Shipping Inc. or Interchart: </B>On February 25, 2014, the Company acquired 33% of
the total outstanding common stock of Interchart for total consideration of $200 in cash and 22,598 of the Company&#146;s common
shares. The common shares were issued on April&nbsp;1, 2014, and the fair value per share of $14.51 was determined by reference
to the per share closing price of the Company&#146;s common shares on the issuance date. The ownership interest was purchased
from an entity affiliated with family members of Company&#146;s Chief Executive Officer, including the Company&#146;s former
director Mrs. Milena-Maria Pappas. This transaction is accounted for as an equity method investment.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On February 25, 2014, the Company
also entered into a services agreement (the &#147;Services Agreement&#148;) with Interchart, for chartering, brokering and commercial
services for all the Company&#146;s vessels for an annual fee of &euro;500,000 ($545, using the exchange rate as of December 31,
2015, which was $1.09 per euro). This fee is adjustable for changes in the Company&#146;s fleet pursuant to the terms of the Services
Agreement. Before the Services Agreement, Interchart acted as chartering broker of all the Company&#146;s vessels on an agreed
upon basis. Under the Services Agreement, all previously agreed upon brokerage commissions due to Interchart were cancelled retroactively
from January 1, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In November 2014, the Company entered
into a new services agreement with Interchart for chartering, brokering and commercial services for all of the Company&#146;s
vessels for a monthly fee of $275, with a term until March 31, 2015, which upon expiry was immediately renewed until December 31,
2016. The agreement is effective from October 1, 2014, and on the same date the previous agreement dated February 25, 2014, was
terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">During the years ended December
31, 2013, 2014 and 2015 the brokerage commissions charged by Interchart were $773, $1,997 and $3,350, respectively, and are included
in &#147;Voyage expenses&#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the
Company had outstanding payables of $6 and $8, respectively, to Interchart.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(b)</B></TD><TD STYLE="text-align: justify"><B>Management and Directors Fees: </B>During 2011 the Company entered into consulting agreements
with companies owned and controlled by each of the then Chief Executive Officer, Chief Financial Officer and Chief Operating Officer.
These agreements had a term of three years unless terminated earlier in accordance with their terms, except for the consultancy
agreement with the entity controlled by the Company&#146;s then Chief Operating Officer which provided for an indefinite term
(terminable by either party with one month&#146;s notice). In addition, on May 3, 2013, the Company entered into separate renewal
consulting agreements with the companies controlled by the Company&#146;s then Chief Executive Officer and Chief Financial Officer.
Additionally, pursuant to the aforementioned agreements, the entities controlled by the Company&#146;s then Chief Executive Officer
and Chief Financial Officer were entitled to receive an annual discretionary bonus, as determined by the Company&#146;s Board
of Directors in its sole discretion. Finally, the entity controlled by the then Chief Executive Officer was entitled to receive
a minimum guaranteed incentive award of 28,000 shares of common stock. These shares vested in three equal annual installments,
the first installment of 9,333 shares vested on February 7, 2012, the second installment of 9,333 shares vested on February 7,
2013 and the last installment of 9,334 shares vested on February 7, 2014. The minimum guaranteed incentive award of 28,000 shares
of the Company&#146;s stock was also renewed as part of the renewal of the consultancy agreement incurred between the Company
and the company controlled by the former Chief Executive Officer with the new shares vesting in three equal annual installments,
the first installment of 9,333 shares would vest on May 3, 2014, the second installment of 9,333 shares vested on May 3, 2015 and
the last installment of 9,334 shares would vest on May 3, 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

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<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="text-align: left; width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties &ndash; (continued):</B></TD>
</TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In connection with the July
2014 Transactions, the Company&#146;s former Chief Executive Officer resigned as Chief Executive Officer and remains with the
Company as Non-Executive Chairman. On July 31, 2014, the Company entered into an agreement to terminate the consultancy
agreement with the company owned by the former Chief Executive Officer and made a severance payment of &euro;664,000
(approximately $891, using the exchange rate as of July 31, 2015, which was $1.34 per euro) of cash and 168,842 common
shares, which were issued on the same date. As a result of the termination agreement, the second and the third installments
of the former Chief Executive Officer&#146;s minimum guaranteed incentive award, under his renewed consultancy agreement, of
9,333 and 9,334, which would have been vested on May 3, 2015 and 2016, respectively, were cancelled. In addition, in
connection with the July 2014 Transactions, the then Chief Operating Officer of the Company was appointed as Company&#146;s
Executive Vice President-Technical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Following the completion of the
Merger, on December 17, 2014, the Company entered into consulting agreements with companies owned and controlled by each one of
the new Chief Operating Officer and the new co-Chief Financial Officer. These agreements have a term of three years unless terminated
earlier in accordance with their terms. Pursuant to the corresponding agreements, the entities controlled by the new Chief Operating
Officer and the new co-Chief Financial Officer are entitled to receive an annual discretionary bonus, as determined by the Company&#146;s
Board of Directors in its sole discretion. On May 19, 2015, the Company entered into an addendum to the consultancy agreements
with the companies owned and controlled by each one of the new Chief Operating Officer and the co-Chief Financial Officers, amending
the consultancy fee payable by the Company, effective as of January 1, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Pursuant to all aforementioned
agreements, effective as of December 31, 2015, the Company is required to pay an aggregate base fee at an annual rate of not less
than $629 (this amount is the sum of all consulting fees in USD and Euro, using the exchange rate as of December 31, 2015, which
was $1.09 per euro), under the relevant consultancy agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">The expenses related to the Company&#146;s
executive officers for the years ended December 31, 2013, 2014 and 2015, including the severance cash payment in 2014 to the Company&#146;s
former Chief Executive Officer were $528, $1,516 and $633, respectively, and are included under &#147;General and administrative
expenses&#148; in the accompanying consolidated statements of operations. The related expenses of non-executive directors for
the years ended December 31, 2013, 2014 and 2015 were $114, $191 and $160, respectively, and are included under &#147;General
and administrative expenses&#148; in the accompanying consolidated statements of operations. As of December&nbsp;31, 2014 and
2015, the Company had outstanding payables of $462 and $315, respectively, to its executive officers and directors and non-executive
directors, representing unpaid consulting fees and unpaid fees for their participation in the Company&#146;s Board of Directors
and other special committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(c)</B></TD><TD STYLE="text-align: justify"><B>Combine Marine Ltd.: </B>On January 1, 2012, Starbulk S.A., entered into a one year lease agreement
for office space with Combine Marine Ltd., a company controlled by one of the then Company&#146;s directors, Mrs. Milena - Maria
Pappas and by Mr. Alexandros Pappas, both of whom are children of Mr. Petros Pappas, the Company&#146;s current Chief Executive
Officer and then Company&#146;s Chairman. The lease agreement provides for a monthly rental of &euro;2,500 (approximately $3,
using the exchange rate as of December 31, 2015, which was $1.09 per euro). On January 1, 2013, the agreement was renewed, and,
unless terminated by either party, it will expire in January 2024. The related rent expense for the years ended December 31, 2013,
2014 and 2015 was $41, $42 and $35, respectively, and is included under &#147;General and administrative expenses&#148; in the
accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had outstanding receivables of
$0 and $9, respectively, from Combine Marine Ltd.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Oceanbulk Maritime S.A.: </B>Oceanbulk Maritime S.A. (&#147;Oceanbulk Maritime&#148;) is a
ship management company controlled by the Company&#146;s former director Mrs. Milena-Maria Pappas. During the years ended December
31, 2013, 2014 and 2015, the Company paid to Oceanbulk Maritime a brokerage commission of $90, $0 and $0 relating to the sale of
certain of its vessels.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On November 25, 2013, the Company&#146;s
Board of Directors approved a commission payable to Oceanbulk Maritime with respect to its involvement in the negotiations with
the shipyards for nine of the Company&#146;s contracted newbuilding vessels (Note 6). The agreement provides for a commission
of 0.5% of the shipbuilding contract price for two newbuilding Capesize vessels (HN 1338 (tbn <I>Star Aries</I>) and HN 1339 (<I>Star
Taurus</I>)) and three newbuilding Newcastlemax vessels (HN 1342 (tbn <I>Star Gemini</I>), HN 1343 (tbn <I>Star Leo</I>) and HN
NE 198 (tbn <I>Star Poseidon</I>)) and a flat fee of $200 per vessel for four newbuilding Ultramax vessels <I>Star Aquarius </I>(ex-HN
5040), <I>Star Pisces </I>(ex-HN 5043), <I>Star Antares </I>(ex-HN NE 196) and HN NE 197 (tbn <I>Star Lutas</I>)), for a total
commission of $2,077. The Company agreed to pay the commission in four equal installments. The first two installments were paid
in cash, while the remaining two installments will be paid in the form of common shares, the number of which will depend on the
price of the Company&#146;s common shares on the date of the two remaining installments. The first and the second installments
of $519, each, were paid in cash in December 2013 and in April 2014, respectively. On October 28, 2015, the Company issued 171,171
shares representing the third installment, the fair value per share was determined by reference to the per share closing price
of the Company&#146;s common shares on the issuance date. An amount of $1,038 and $280 was capitalized to &#147;Advances for
vessel under construction and acquisition of vessels&#148; during the years ended December 31, 2014 and 2015, respectively. The
last installment is due in April 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On March 22, 2014, Starbulk S.A.
entered into an agreement with Oceanbulk Maritime, under which certain management services, including crewing, purchasing, arranging
insurance, vessel telecommunications and master general accounts supervision, were provided to certain dry bulk vessels under the
management of Oceanbulk Maritime up to December 31, 2014. Pursuant to the terms of this agreement, Starbulk S.A. received a fixed
management fee of $0.17 per day, per vessel, which as of June 1, 2014, was changed to $0.11 per day, per vessel, based on an addendum
signed on May 22, 2014. The related income for the year ended December 31, 2014, was $188 and was included under &#147;Management
fee income&#148; in the accompanying consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties &ndash; (continued):</B>&nbsp;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Oceanbulk Maritime S.A. &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In addition, prior to the Merger,
Oceanbulk and the Pappas Companies had entered into a management agreement with Oceanbulk Maritime and its affiliates pursuant
to which Oceanbulk Maritime provided commercial and administrative services to Oceanbulk and the Pappas Companies. Following the
completion of the Merger on July 11, 2014, this management agreement with Oceanbulk Maritime was terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Further, following the completion
of the Merger and the Pappas Transaction, the Company owns the vessels <I>Magnum Opus</I> and <I>Tsu Ebisu</I>, which were managed
by Oceanbulk Maritime prior to the Merger and continued to be managed by Oceanbulk Maritime after the Merger, until September and
August 2014, respectively. The related expense for the year ended December 31, 2014, was $158 and is included under &#147;Management
fee expense&#148; in the accompanying consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Oceanbulk Maritime provided performance
guarantees under the bareboat charter agreements relating to the shipbuilding contracts for the vessels <I>Roberta </I>(ex-HN 1061),
<I>Laura </I>(ex-HN 1062), <I>Idee Fixe</I> (ex-HN 1063) and <I>Kaley (</I>ex-HN 1064). Such performance guarantees had been counter-guaranteed
by Oceanbulk Carriers. Following the completion of the Merger, in September, 2014, Star Bulk provided counter-guarantees to Oceanbulk
Maritime S.A. in exchange for the counter-guarantees provided by Oceanbulk Carriers. The vessels were delivered to the Company
in 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">In addition, Oceanbulk Maritime
also provided performance guarantees under the shipbuilding contracts for the vessels <I>Deep Blue </I>(ex-HN 5017), HN 5055-JMU
(tbn <I>Behemoth</I>), HN 5056-JMU (tbn <I>Megalodon</I>), <I>Honey Badger </I>(ex-HN NE 164), <I>Wolverine </I>(ex-HN NE 165),
<I>Gargantua </I>(ex-HN NE 166), <I>Goliath </I>(ex-HN NE 167) and <I>Maharaj </I>(ex-HN NE 184). Prior to the Merger, all of
the performance guarantees were counter-guaranteed by Oceanbulk Shipping. Following the completion of the Merger, on September
20, 2014 Star Bulk provided counter-guarantees to Oceanbulk Maritime in exchange for the counter-guarantees provided by Oceanbulk
Shipping. These vessels were delivered to the Company in early 2016 at which time the aforementioned guarantees terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">As of December 31, 2014 and 2015,
the Company had outstanding receivables of $241 and $1,209 from Oceanbulk Maritime and its affiliates, respectively. The outstanding
balance as of December 31, 2015 includes an amount of $850, which represents supervision cost for certain newbuilding vessels
managed by Oceanbulk Maritime and paid by the Company. In addition, as of December 31, 2015 the Company had an outstanding
payable of $33 to Oceanbulk Maritime and its affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(e)</B></TD><TD STYLE="text-align: justify"><B>Managed vessels of Oceanbulk Shipping:</B> Prior to the Merger,<B> </B>Starbulk S.A. had entered
into vessel management agreements with certain ship-owning companies owned and controlled by Oceanbulk Shipping (Note 1). Pursuant
to the terms of these agreements, Starbulk S.A. received a fixed management fee of $0.75 per day, per vessel. These management
agreements were terminated on July 11, 2014, the date the Merger closed. The related income for the years ended December 31, 2013
and 2014, was $823 and $1,390, respectively, and is included under &#147;Management fee income&#148; in the accompanying consolidated
statements of operations. As of December 31, 2014 and 2015, the Company had an outstanding payable of $9 and $7, respectively,
to Maiden Voyage LLC, previous owner of the vessel <I>Maiden Voyage, </I>one of the vessels of Oceanbulk Shipping<I>.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties &ndash; (continued):</B>&nbsp;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(f)</B></TD><TD STYLE="text-align: justify"><B>Product Shipping &amp; Trading S.A.: </B>Product Shipping &amp; Trading S.A. is an entity controlled
by family members of the Company&#146;s ex-Chairman and current Chief Executive Officer, Mr. Petros Pappas. On June 7, 2013, Starbulk
S.A. entered into an agreement with Product Shipping &amp; Trading S.A., under which the Company provided certain management services
including crewing, purchasing and arranging insurance to the vessels under the management of Product Shipping &amp; Trading S.A.
Pursuant to the terms of this agreement, Starbulk S.A. received a fixed management fee of $0.13 per day, per vessel. In October,
2013 the Company decided to gradually cease providing the above mentioned services to the vessels managed by Product Shipping &amp;
Trading S.A., except for arranging insurance services, and as a result, the management fee decreased to $0.02 per day, per vessel,
and effective July 1, 2014, the agreement was terminated. The related income for the years ended December 31, 2013 and 2014 was
$242 and $62, respectively, and is included under &#147;Management fee income&#148; in the accompanying consolidated statement
of operations. As of December 31, 2014 and 2015, the Company had outstanding receivables of $4 and $0, respectively, from Product
Shipping &amp; Trading S.A.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(g)</B></TD><TD STYLE="text-align: justify"><B>Oaktree Shareholder Agreement:
                                         </B>As a result of the Merger, on July 11, 2014, Oaktree became the beneficial owner
                                         of approximately 61.3% of the Company&#146;s then outstanding common shares. At the closing
                                         of the July 2014 Transactions, the Company and Oaktree entered into a shareholders agreement
                                         (the &#147;Oaktree Shareholders Agreement&#148;). Under the Oaktree Shareholders Agreement,
                                         Oaktree has the right to nominate four of the Company&#146;s nine directors so long as
                                         it beneficially owns 40% or more of the Company&#146;s outstanding voting securities.
                                         The number of directors able to be designated by Oaktree is reduced to three directors
                                         if Oaktree beneficially owns 25% or more but less than 40% of the Company&#146;s outstanding
                                         voting securities, to two directors if Oaktree beneficially owns 15% or more but less
                                         than 25%, and to one director if Oaktree beneficially owns 5% or more but less than 15%.
                                         Oaktree&#146;s designation rights terminate if it beneficially owns less than 5% of the
                                         Company&#146;s outstanding voting securities. Therefore, in July&nbsp;2014 and in connection
                                         with the July 2014 Transactions, the Company&#146;s Board of Directors, increased the
                                         number of directors constituting the Board of Directors to nine and, following the resignation
                                         of Mrs. Milena - Maria Pappas, appointed Mr. Rajath Shourie, Ms. Emily Stephens, Ms.
                                         Ren&eacute;e Kemp and Mr. Stelios Zavvos as directors. Following these changes in the
                                         composition of the Board of Directors, the four individuals designated by Oaktree to
                                         be Company&#146;s directors were Messrs. Pappas and Shourie and Mses. Stephens and Kemp
                                         in accordance with the provisions of the Oaktree Shareholders Agreement. On February
                                         17, 2015, Mr. Shourie and Ms. Stephens were replaced by Mr. Mahesh Balakrishnan and Ms.
                                         Jennifer Box, respectively. As further disclosed in Note 20, on March 14, 2016,
                                         Ms. Ren&eacute;e Kemp stepped down from the Company&rsquo;s Board of Directors. The
                                         three directors currently designated by Oaktree are Messrs. Pappas and Balakrishnan
                                         and Ms. Box, while Oaktree retains the right to name an additional director
                                         under the Oaktree Shareholders Agreement. Under the Oaktree Shareholders Agreement,
                                         with certain limited exceptions, Oaktree effectively cannot vote more than 33% of the
                                         Company&#146;s outstanding common shares (subject to adjustment under certain circumstances).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(h)</B></TD><TD STYLE="text-align: justify"><B>Excel Transactions: </B>As discussed in detail in Note 1, on August 19, 2014, the Company entered
into the Excel Transactions. The principal shareholders of Excel are Oaktree and Angelo Gordon, none of which though, on its own,
is deemed to have control on Excel&#146;s strategy and operations either by means of holding equity interests, control of Excel&#146;s
board of directors or other type of arrangement indicating a parent-subsidiary relationship. Therefore the Company concluded that
the Excel Transactions were not transactions under common control. Nevertheless, due to Oaktree&#146;s relationship with the Company
and the relationship of Oaktree to Excel, the Company concluded that the Excel Transactions, including the acquisition of the Excel
Vessels and the conclusion of the Excel Vessel Bridge Facility (Note 8), should be treated as related party transactions for purposes
of its financial statements presentation and disclosure. The Excel Vessel Bridge Facility was fully repaid in January 2015. Interest
expense incurred for the years ended December 31, 2014 and 2015, amounted to $1,659 and $220, respectively.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="text-align: left; width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Transactions with Related Parties &ndash; (continued):</B></TD>
</TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(i)</B></TD><TD STYLE="text-align: justify"><B>Acquisition of Heron Vessels: </B>Following the completion of the Merger, pursuant to the provisions
of the Merger Agreement relating to the Heron Vessels, and in accordance with the agreement among Oceanbulk Shipping, ABY Group
and Heron, dated September 5, 2014, with respect to the conversion of the Heron Convertible Loan, the governance of Heron and the
distribution of some of its vessels to its investors, as further discussed in Note 1, on November 11, 2014, the Company entered
into two separate agreements to acquire from Heron the vessels <I>Star Gwyneth (ex-ABYO Gwyneth</I>) and <I>Star Angelina (ex-ABYO
Angelina)</I>, which were delivered to the Company on December 5, 2014 (Note 5).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 31.5pt"><B>(j)</B></TD><TD STYLE="text-align: justify"><B>Management agreement
                                         with Maryville Maritime Inc.:</B> Three of the Excel Vessels (<I>Star Martha (ex Christine)</I>,
                                         <I>Star Pauline (ex Sandra)</I> and <I>Star Despoina (ex Lowlands Beilun)</I>, which
                                         were acquired with attached time charters, were managed by Maryville Maritime Inc. (&#147;Maryville&#148;),
                                         a subsidiary of Excel. As described in Note 3.h above, due to Oaktree&#146;s relationship
                                         with Excel, the Company concluded that the management agreement with Maryville should
                                         be treated as a related party transaction for purposes of its financial statements presentation
                                         and disclosure. Maryville managed two of the vessels until August 2015 and one until
                                         November 2015, when each of their existing time charters expired. The Company paid Maryville
                                         a monthly fee of $17.5 per vessel. Total management fee expense to Maryville for the
                                         years ended December 31, 2014 and 2015 was $35 and $451, respectively and is included
                                         in &#147;Management fees&#148; in the accompanying consolidated statements of operations.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD><B>Inventories:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts shown in the accompanying consolidated
balance sheets are analyzed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 26%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lubricants</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 26%; text-align: right">6,853</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 26%; text-align: right">7,438</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bunkers</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,515</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,809</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,368</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,247</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>5.</B>&#9;<B>Vessels and other fixed assets, net:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
amounts in the accompanying consolidated balance sheets are analyzed as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Cost</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; color: Black; text-align: left">Vessels</TD><TD STYLE="width: 8%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 12%; color: Black; text-align: right">1,641,603</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 12%; color: Black; text-align: right">2,025,688</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Other fixed assets</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="color: Black; text-align: right; border-bottom: Black 1pt solid">1,683</TD><TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="color: Black; text-align: right; border-bottom: Black 1pt solid">1,810</TD><TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Total cost</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">1,643,286</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">2,027,498</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left; padding-bottom: 1pt">Accumulated depreciation</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(201,435</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(269,946</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Vessels and other fixed assets, net</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,441,851</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">1,757,552</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Vessels acquired / disposed during
the year ended December 31, 2013</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 14, 2013, the Company entered
into an agreement with a third party to sell the vessel <I>Star Sigma</I>. The vessel was delivered to its buyers on April 10,
2013. The resulted loss from this sale of $87 is included under &#147;Loss on sale of vessel&#148; in the accompanying consolidated
statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 5, 2013, the Company entered
into two agreements to acquire from two unaffiliated third parties, one 61,462 dwt Ultramax vessel, <I>Star Challenger</I>, built
2012 and one 61,455 dwt Ultramax vessel, <I>Star Fighter</I>, built 2013. The vessels were delivered to the Company on December
12, 2013 and December 30, 2013, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Vessels acquired / disposed during
the year ended December 31, 2014</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 98,000 dwt Post-Panamax
vessels, <I>Star Vega</I> and <I>Star Sirius</I>, built 2011. The vessels <I>Star Vega</I> and <I>Star Sirius</I>, were delivered
to the Company on February 13, 2014 and March 7, 2014, respectively. The vessels, upon their delivery, were chartered back to Glocal
for a daily rate of $15, at least until June 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B>Vessels and other fixed assets, net &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the completion of the Merger
and the Pappas Transaction discussed in Note 1, the Company became the owner of 13 operating vessels (refer to relevant table in
Note 1), the fair value of which following the purchase price allocation was estimated at $426,000 (based on Level 2 inputs of
the fair value hierarchy). In addition, on July 22, 2014 and on September 19, 2014, the Company took delivery of the vessels <I>Peloreus
</I>and <I>Leviathan</I>, respectively, two Capesize vessels with a capacity of 182,000 dwt each, built by the Japan Marine United
Corporation, or JMU shipyard. The newbuilding contracts for those vessels had been acquired by the Company as part of the Merger.
The delivery installment payment of $34,625 for each vessel was partially financed by $32,500 drawn for each vessel under a loan
facility with Deutsche Bank AG (Note 8), and the remaining amount of $2,125, for each vessel, was financed by existing cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Excel Transactions discussed
in Note 1, as of December 31, 2014, 28 out of the 34 Excel Vessels had been transferred to the Company, for an aggregate consideration
of 25,659,425 common shares (based on Level 1 inputs of the fair value hierarchy) and $248,751 in cash, or a total cost of $501,535,
including time charters attached (Note 7). The Company used cash on hand, together with borrowings under various credit facilities,
to pay the cash consideration for the Excel Vessels, as further discussed in Note 8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As further discussed in Note 3, on November
11, 2014, the Company entered into two separate agreements with Heron to acquire the vessels <I>Star Gwyneth </I>(<I>ex-ABYO Gwyneth</I>)
and <I>Star Angelina </I>(<I>ex-ABYO Angelina</I>), which were delivered to the Company on December 5, 2014. The cost for the acquisition
of these vessels was determined based on the fair value of the 2,115,706 common shares issued on July 11, 2014, in connection with
the Heron Transaction, of $25,080 (Level 1) and the amount of $25,000 financed by the Heron Vessels Facility (Note 8), according
to the provisions of the Merger Agreement with respect to these acquisitions, as further discussed in Note 17.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 17, 2014, the Company entered
into an agreement with a third party to sell the vessel <I>Star Kim</I>, one of the Excel Vessels, at market terms which also approximated
the vessel&#146;s net book value. The vessel did not meet the &#145;held-for-sale&#146; classification criteria as of December
31, 2014, as it was not considered available for immediate sale in its present condition. The sale was completed on January 21,
2015 when the vessel was delivered to its new owner. As of December 31, 2014, the Company had received an advance payment from
the buyers amounting to $1,100, which is included under &#147;Advances from sale of vessel&#148; in the accompanying consolidated
balance sheet as of December 31, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Vessels acquired / disposed during
the year ended December 31, 2015</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>Delivery of newbuilding
vessels:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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 (Note 8).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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 the <I>Honey Badger</I> and the <I>Wolverine</I> under the Sinosure Facility (Note 8).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B>Vessels and other fixed assets, net &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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 with Jiangsu Yangzijiang Shipbuilding Co. Ltd. (&#147;New Yangzijiang&#148;). As further
discussed below, the Company accounts for these bareboat charter agreements as capital leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On April 2, 2015, the Company took delivery of the Newcastlemax vessel <I>Gargantua</I> (ex-HN 166). On July 15, 2015, the
Company took delivery of the Newcastlemax vessels Goliath (ex-HN 167) and Maharaj (ex-HN 184). The delivery installments of $113,046
were partially financed by $93,000 drawn down under the DNB-SEB-CEXIM $227,500 Facility (Note 8), and the remaining amount was
financed by using existing cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(v)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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 (Note 8), and the remaining amount
was financed by using existing cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(vi)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On July 22, 2015 and on August 7, 2015, the Company took delivery of the Ultramax vessels <I>Star Aquarius</I> (ex-HN 5040)
and <I>Star Pisces</I> (ex-HN5043). The delivery installments of $20,359 and $20,351, respectively, were partially financed by
$15,237 drawn under the NIBC $32,000 Facility (Note 8) for each vessel, and the remaining amount was financed by using existing
cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(vii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On October 9, 2015, the Company took delivery of the Ultramax vessel <I>Star Antares</I> (ex-HN 196). The delivery installment
of $19,770 was partially financed by $16,738 drawn under the Sinosure Facility (Note 8), and the remaining amount was financed
by using existing cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>Acquisition of secondhand
vessels</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">During the year ended
December 31, 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>Sale of vessels</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">During 2015 and early
2016, the Company entered into various separate agreements with third parties to sell 16 of the Company&#146;s vessels (<I>Star
Big, Star Mega, Maiden Voyage, Star Natalie, Star Tatianna, Star Christianna, Star Monika, Star Julia, Star Nicole, Rodon, Star
Claudia, Indomitable, Magnum Opus, Tsu Ebisu, Deep Blue and Obelix)</I>. Of these vessels, 12 were delivered to their purchasers
in 2015, while the remaining four (<I>Indomitable, Magnum Opus, Tsu Ebisu, and Deep Blue</I>) were delivered to their purchasers
in 2016 (Note 20). None of these four vessels met the &#145;held-for-sale&#146; classification criteria as of
December 31, 2015, as none of them were considered available for immediate sale in their present condition at that date. In addition,
as discussed above, in late December 2014 the Company agreed to sell the vessel <I>Star Kim</I>, which was delivered to its owner
in early 2015. As part of these sales (other than the sale of the vessel <I>Maiden Voyage</I> which is separately discussed below),
the Company recognized a net loss on sale of $20,585, which is separately reflected in the accompanying statement of operations
for the year ended December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B>Vessels and other fixed assets, net &ndash; (continued):</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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
(currently named <I>Astakos</I>) was leased back to the Company under a time charter for two years. The vessel was delivered
to its new owner on September 15, 2015 and the Company became the charterer of the vessel on the same date. The lease back
did not meet the lease classification test for a capital lease and is accounted for as operating lease. Pursuant to the
applicable accounting guidance for sale and lease back transactions, the net gain from the sale of <I>Maiden Voyage</I> of
$148 was deferred and is being amortized in straight line over the lease term. The net book value of this deferred gain as of
December 31, 2015 is $126 and is reflected within &#147;Other non-current liabilities&#148; in the accompanying consolidated
balance sheet, while amortization of this deferred gain as of December 31, 2015 is $22 and is included within
&#147;Charter-In Hire expenses&#148; in the accompanying consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><I>Capital leases</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On May&nbsp;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. 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. 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;). 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, is 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. After each
vessel&#146;s delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period
prices. 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 year ended December
31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Based on applicable accounting
guidance, the Company determined that the bareboat charters should be classified as capital leases. As a result, in accordance
with the applicable capital lease accounting guidance, the Company recorded a financial liability and a financial asset equal to
the present value of the minimum lease payments at the time of the vessel&#146;s delivery, when the term of the lease was deemed
to begin. The net book value of these vessels (which includes the upfront fees paid by the Company until the delivery of the vessel,
net of accumulated depreciation) recorded as of December 31, 2015 is reflected within &#147;Vessels and other fixed assets, net&#148;
in the accompanying consolidated balance sheet. The charge resulting from amortization of these leased assets is included within
&#147;Depreciation expense&#148; in the accompanying consolidated statement of operations. The interest expense on the financial
liability related to these capital leases as of December 31, 2015 was $3,088 and is included within &#147;Interest and finance
costs&#148; in the accompanying consolidated statement of operations. As of December 31, 2015 the net book value of the vessels
was $120,992, with accumulated amortization of $3,056.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B>Vessels and other fixed assets, net &ndash; (continued):</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The principal payments
required to be made after December 31, 2015, for the outstanding capital lease obligations, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Years</B></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Amount</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2016</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,640</FONT></TD></TR>
<TR>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2017</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,640</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2018</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,640</FONT></TD></TR>
<TR>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2019</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,437</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2020</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,370</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2021 and thereafter</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">51,832</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total capital lease minimum payments</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>101,559</B></FONT></TD></TR>
<TR>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excluding bareboat interest </FONT></TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">22,039</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total lease commitments</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>79,520</B></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lease commitments &ndash; current portion</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,490</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lease commitments &ndash; non-current portion</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,030</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Impairment Analysis</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the decline in charter rates
and vessel values during the previous years and since market expectations for future rates were low and vessel values were unlikely
to increase to the high levels of 2008, the Company reviewed the recoverability of the carrying amount of its vessels in 2013,
2014 and 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#146;s impairment analysis
for 2013 and 2014 indicated that the carrying amount of the Company&#146;s vessels was recoverable, and therefore the Company
concluded that no impairment charge was necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the sales agreed in 2015 and
2016, as discussed above and in Notes 6 and 20 below, the Company recognized an impairment loss of $219,400. In addition, in light
of the continued economic downturn and the prevailing conditions in the shipping industry, as of December 31, 2015, the Company
performed an impairment analysis for each of its operating vessels and newbuildings whose carrying value was above its market value.
Based on the Company&#146;s impairment analysis framework described in Note 2(n) above, the future undiscounted projected net
operating cash flows for certain of its vessels over their operating life were below their carrying value. In estimating each vessel&#146;s
projected cash flows, the Company also took into consideration the possibility of a sale of certain additional operating vessels
and newbuildings (with a net book value as of December 31, 2015 of $119,591), to the extent that attractive sale prices will be
attainable. After completing its impairment analysis, the Company recognized an additional impairment loss of $102,578.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The total impairment charge for the year
ended December 31, 2015 is separately reflected in the accompanying consolidated statement of operations (Note 19).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD><B>Advances for vessels under construction and</B> <B>acquisition of vessels:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts shown in the accompanying consolidated
balance sheets are analyzed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left">Pre-delivery yard installments and fair value adjustment (Note 1)</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">408,870</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">65,009</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Bareboat capital leases &ndash; upfront hire &amp; handling fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,467</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,428</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Capitalized interest and finance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,654</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,301</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other capitalized costs (Note 3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,542</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,172</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Advances for secondhand vessels</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">79</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">454,612</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">127,910</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As summarized in the relevant table of
Note 1, as of December 31, 2015, the Company was party to 19 newbuilding contracts or lease arrangements (as further discussed
below) for the construction of dry bulk carriers of various types, 11 of which were assumed as part of the Merger and the Pappas
Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2015, the Company entered into separate
agreements with third parties to sell upon their delivery from the shipyard the newbuilding vessels <I>Behemoth,</I> <I>Bruno Marks,
Jenmark, Star Aries</I> and <I>Star Taurus</I>. The first two of these vessels were delivered to purchasers in January 2016, upon
their delivery to the Company, while the remaining three will be delivered by the end of April 2016. In early 2016, the Company
entered into an agreement to sell upon its delivery from the shipyard the newbuilding vessel <I>Megalodon</I> (ex-HN 5056). The
vessel was delivered to its new owners in January 2016. None of these vessels met the &#145;held-for-sale&#146; classification
criteria as of December 31, 2015, as none of them was considered available for immediate sale in its present condition at that
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2015 and in early 2016 the Company
reached an agreement in principle with certain shipyards to defer the delivery and reduce the purchase price of certain newbuilding
vessels. The estimated delivery dates disclosed in the tables of Note 1 take effect of these negotiations. These agreements are
subject to execution of final documentation by both parties. The aggregate agreed reduction to the purchase price was $64,508.
In addition, an amount of $187,695, regarding capital expenditures due in 2016, was deferred to 2017 and 2018. Taking into effect
the outcome of these negotiations, as of December 31, 2015, the total aggregate remaining contracted price for the 19 newbuilding
vessels plus agreed extras was $619,223, of which $431,527 is payable during the next twelve months ending December
31, 2016, and the remaining $113,366 and $74,330 is payable during the years ending December 31, 2017 and 2018, respectively.
An amount of $84,600, $77,100 and $38,400, respectively, will be financed through bareboat capital lease arrangements, as discussed
below, the commitments of that are reflected in Note 17.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD><B>Advances for vessels under construction and</B> <B>acquisition of vessels &ndash; (continued):</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Capital leases</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 &#147;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 $43,200 and $40,000, respectively, 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.<SUP> </SUP>In addition, the Company will pay an 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 due
one year later was paid in 2015. 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 $12,960
and $12,000, 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, following the completion
of the Merger and the Pappas Transactions the Company also assumed bareboat charters with respect to five newbuilding vessels
being built at SWS for subsidiaries of Oceanbulk at the time of the Merger. On December 27, 2013, subsidiaries of Oceanbulk 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. As of December 31, 2015, the Company expects that only three of these vessels will still be delivered. 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 ranging from $40,000, to $43,200 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. In addition, the Company will pay for the three newbuilding
vessels an aggregate amount of $1,008 for agreed extra costs. After each vessel&#146;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 ranging from $12,000 to $12,960.
Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the
three vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD><B>Advances for vessels under construction and</B> <B>acquisition of vessels &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Capital leases</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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,
$15,669 paid up to December 31, 2015, representing upfront hire and handling fees for the newbuilding vessels, including those
vessels delivered during this period, has been capitalized and is included under &#147;Advances for vessels under construction
and acquisition of vessels&#148;. 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. At that time,
the Company will recognize the appropriate financial liability and financial asset in accordance with the applicable capital lease
accounting guidance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 31, 2015, the Company entered
into a non-binding term sheet for the sale of one of its newbuilding contract (HN 1343 (tbn <I>Star Leo</I>)) and a 10-year lease
back arrangement with CSSC, in order to finance up to $40,000 for the vessel&#146;s delivery installment. The final agreements,
which include the memorandum of agreement and bareboat lease agreement, are expected to be signed in March 2016.
Pursuant to the terms of the bareboat charter, the Company will pay a fixed bareboat charter hire rate payable monthly plus a
variable amount. In addition, the Company will also pay $500 representing handling fees in two installments. Under the terms of
the bareboat charter, the Company has the option to purchase the vessel at any time, such option being exercisable on a monthly
basis against pre-determined, amortizing-during-the-charter-period prices, while it has a respective obligation of purchasing
the vessel at the expiration of the bareboat term at a purchase price of $12,060. Upon the earlier of the exercise of the purchase
options or the expiration of the bareboat charter, the Company will own the vessel. Based on applicable accounting guidance, the
Company determined that the bareboat charter for HN 1343 (tbn <I>Star Leo</I>) should be classified at the time of the beginning
of the lease (i.e. at the delivery of the vessel expected in January 2018) as capital lease. The Company is deemed to retain substantially
all of the benefits and risks incident to the ownership of the sold vessel. Accordingly, the sale-leaseback transaction is merely
a financing and will be accounted for as such upon the delivery of the vessel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2015,
the Company agreed to reassign the leases for two newbuilding vessels back to the vessels&#146; owner for a one-time refund
to the Company of $5,800 each.<SUP> </SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>7.</B></TD><TD><B>Fair value of Above Market Acquired Time Charters:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During 2011, the Company acquired two second-hand
Capesize vessels, <I>Star Big</I> and <I>Star Mega</I>, with existing time charter contracts. Upon their delivery, the Company
evaluated the attached charter contracts by comparing the charter rates in the acquired time charter agreements with the market
rates for equivalent time charter agreements prevailing at the time the foregoing vessels were delivered and recognized an asset
of $23,065. 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 terminated early, and
the unamortized balance of $2,114, at June 30, 2015, was written-off. Such amount is reflected under &#147;Loss on time charter
agreement termination&#148; in the accompanying consolidated statement of operations for the year ended December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the Merger in July 2014, a $1,967
intangible asset was recognized corresponding to a fair value adjustment for two favorable time charters under which Oceanbulk
was the lessor at the time of acquisition, with respect to vessels <I>Amami </I>and <I>Madredeus,</I> as further discussed in Note
1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, for three Excel Vessels <I>Star
Martha (ex Christine)</I>, <I>Star Pauline (ex Sandra)</I> and <I>Star Despoina (ex Lowlands Beilun)</I>, which were transferred
to the Company subject to existing charters, the Company recognized an asset of $8,076, since it determined that the respective
charters were favorable comparing to the existing charter rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the years ended December 31, 2013,
2014 and 2015, the amortization of fair value of the above market acquired time charters amounted to $6,352, $6,113 and $9,540,
respectively, and is included under &#147;Voyage revenues&#148; in the accompanying consolidated statements of operations. The
accumulated amortization of these above market time charters as of December 31, 2014 and 2015 was $21,200 and $30,740, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amount of the above market
acquired time charters amounting to $254 as of December 31, 2015 will be amortized on a straight line basis to revenues through
the end of the corresponding charter parties, over a weighted-average period of 0.28 years as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 66%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Year</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Amount</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2016</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">254</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>254</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD><B>Long-term debt:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below presents outstanding amounts
under the Company&#146;s bank loans and notes as of December 31, 2014 and 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 65%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 4%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
    <TD NOWRAP STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 3%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2015</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Commerzbank $120,000 and $26,000 facilities</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">74,680</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">44,417</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Credit Agricole Corporate and Investment Bank $70,000 facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">54,968</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">51,028</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ABN AMRO Bank N.V. $31,000 facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,800</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">HSH Nordbank AG $64,500 facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">29,600</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">22,047</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">HSH Nordbank AG $35,000 facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,187</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">30,771</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deutsche Bank AG $39,000 facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,660</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,540</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ABN $87,458 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">76,689</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">55,158</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deutsche Bank $85,000 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">82,708</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">77,042</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">HSBC $86,600 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">83,490</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">77,270</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CEXIM $57,360 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">HSBC $20,000 Dioriga Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,300</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">17,900</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">NIBC $32,000 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">29,966</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">BNP $32,480 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">32,480</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">30,331</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excel Vessel Bridge Facility </FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">56,161</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">DVB $24,750 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,750</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">21,150</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excel Vessel CiT Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">30,000</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sinosure Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">52,165</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Citi Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">51,478</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">80,554</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Heron Vessels Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,567</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">21,589</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">DNB $120,000 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">88,275</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">98,051</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">DVB $31,000 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">27,727</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">DNB&ndash;SEB&ndash;CEXIM $227,500 Facility</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">91,032</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.00% 2019 Notes</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50,000 </FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">50,000</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>861,793</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>911,738</B></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>a)</B></TD><TD><B>Commerzbank $120,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 27, 2007, the Company entered
into a loan agreement with Commerzbank AG for up to $120,000, in order to partially finance the acquisition cost of the vessels,
<I>Star Gamma</I>, <I>Star Delta</I>, <I>Star Epsilon</I>, <I>Star Zeta</I>, and <I>Star Theta</I> (the &#147;Commerzbank $120,000
Facility&#148;). The Commerzbank $120,000 Facility is secured by a first priority mortgage over the financed vessels. The Commerzbank
$120,000 Facility was amended in June and December 2009. As amended, the Commerzbank $120,000 Facility had two tranches. One tranche
of $50,000 was repayable in 28 consecutive quarterly installments, which commenced in January 2010, consisting of (i) the first
four installments of $2,250 each, (ii) the next 13 installments of $1,000 each and (iii) the remaining 11 installments of $1,300
each, with a final balloon payment of $13,700 payable along with the last installment. The second tranche of $70,000 was repayable
in 28 consecutive quarterly installments, which commenced in January 2010, consisting of (i) the first four installments of $4,000
each and (iii) the remaining 24 installments of $1,750 each, with a final balloon payment of $12,000 payable together with the
last installment. The repayment schedule was modified to make the entire amount outstanding under the Commerzbank $120,000 Facility
payable in October, 2016, as described further below under &#147;Supplemental Agreements &ndash; Commerzbank $120,000 and $26,000
Facilities.&#148;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>b)</B></TD><TD><B>Commerzbank $26,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 3, 2010, the Company entered
into a loan agreement with Commerzbank AG for up to $26,000 in order to partially finance the acquisition cost of the vessel, <I>Star
Aurora</I> (the &#147;Commerzbank $26,000 Facility&#148;)<I>.</I> The Commerzbank $26,000 Facility was secured by a first priority
mortgage over the financed vessel. As described below, under &#147;Supplemental Agreements - Commerzbank $120,000 and $26,000
Facilities,&#148; the Commerzbank $26,000 was fully repaid in June 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>Restructuring Agreement
- Commerzbank $120,000 and $26,000 Facilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December&nbsp;17, 2012, the Company
executed a commitment letter with Commerzbank to amend the Commerzbank $120,000 Facility and the Commerzbank $26,000 Facility.
The definitive documentation for the supplemental agreement (the &#147;Commerzbank Supplemental&#148;) was signed on July&nbsp;1,
2013. Pursuant to the Commerzbank Supplemental, the Company paid Commerzbank a flat fee of 0.40% of the combined outstanding loans
under the two facilities and agreed, subject to certain conditions, to (i) amend some of the covenants governing the two facilities,
(ii)&nbsp;prepay an amount of $2,000, pro rata against the balloon payments of each facility, (iii)&nbsp;raise $30,000 in equity
(which condition was satisfied after the completion of the Company&#146;s rights offering in July 2013 (Note 9)) and (iv)&nbsp;increase
the loan margins. In addition, Commerzbank agreed to defer 60% and 50% of the quarterly installments for the years ended December&nbsp;31,
2013 and 2014 (the &#147;Deferred Amounts&#148;), to the balloon payments or to a payment in accordance with a semi-annual cash
sweep mechanism; under which all earnings of the mortgaged vessels after operating expenses, dry docking provision, general and
administrative expenses and debt service, if any, will be used as repayment of the Deferred Amounts. The Company was not permitted
to pay any dividends as long as Deferred Amounts are outstanding and/or until original terms are complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 30, 2015, the Company and Commerzbank
AG signed a second supplemental agreement (the &#147;Commerzbank Second Supplemental&#148;). Under the Commerzbank Second Supplemental,
the Company agreed to (i)&nbsp;prepay an amount of $3,000, (ii)&nbsp;amend some of the covenants governing this facility, and (iii)
change the repayment date for the Commerzbank $26,000 Facility from September 7, 2016 to July 31, 2015. The Company fully repaid
the Commerzbank $26,000 Facility in June 2015, and the vessels <I>Star Aurora</I> and <I>Star Zeta</I> were released from the vessel
mortgage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company and Commerzbank
AG signed a third supplemental agreement (the &#147;Commerzbank Third Supplemental&#148;). Under the Commerzbank Third Supplemental,
the Company and Commerzbank AG agreed to (i) defer the installment payments under the Commerzbank $120,000 Facility, until the
full repayment in late October, 2016, (ii) add as additional collateral the vessel <I>Star Iris, </I>and<I> </I>(iii)&nbsp;amend
some of the covenants governing this facility (Note 20).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>c)</B></TD><TD><B>Credit Agricole $70,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January&nbsp;20, 2011, the Company entered
into a loan agreement with Credit Agricole Corporate and Investment Bank for a term loan up to $70,000 (the &#147;Credit Agricole
$70,000 Facility&#148;)<I> </I>to partially finance the construction cost of the two newbuilding vessels, <I>Star Borealis</I>
and <I>Star Polaris, </I>which were delivered to the Company in 2011. The Credit Agricole $70,000 Facility is secured by a first
priority mortgage over the financed vessels and is divided into two tranches. The Company drew down $67,275 under this facility.
The Credit Agricole $70,000 Facility is repayable in 28 consecutive quarterly installments, commencing three months after the delivery
of each vessel, of $485.4 and $499.7, respectively, and a final balloon payment payable at maturity, of $19,558.2 (due August&nbsp;2018)
and $20,134 (due November&nbsp;2018) for the <I>Star Borealis</I> and <I>Star Polaris </I>tranches, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
waiver letter with Credit Agricole Corporate and Investment Bank in order to revise some of the covenants contained in the loan
agreement for a period up to December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>d)</B></TD><TD><B>ABN AMRO Bank N.V. $31,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July&nbsp;21, 2011, the Company entered
into a senior secured credit facility with ABN AMRO Bank N.V. the &#147;ABN AMRO&#148;) for $31,000 (the &#147;ABN AMRO $31,000
Facility&#148;), to partially finance the acquisition cost of the vessels <I>Star Big</I> and <I>Star Mega</I>. The ABN AMRO $31,000
Facility was secured by a first priority mortgage over the financed vessels. The borrowers under the ABN AMRO $31,000 Facility
were the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. was the guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March&nbsp;16, 2012, the Company and
ABN AMRO amended the ABN AMRO $31,000 Facility under a first supplemental agreement (the &#147;ABN $31,000 First Supplemental&#148;).
On April&nbsp;2, 2013, the Company and ABN AMRO signed a second supplemental agreement (the &#147;ABN $31,000 Second Supplemental&#148;
and, together with the ABN First Supplemental, the &#147;ABN $31,000 Supplementals&#148;). Under the ABN $31,000 Supplementals,
the Company agreed, subject to certain conditions, to (i) revise the covenants governing this facility until December&nbsp;31,
2014, (ii)&nbsp;not pay dividends until December&nbsp;31, 2014 and (iii)&nbsp;increase the margin by 50 bps, beginning on March&nbsp;31,
2013, until the time the Company was able to raise at least $30,000 of additional equity (which condition was satisfied after the
completion of the Company&#146;s rights offering in July 2013 (Note 9)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 31, 2015, the Company and ABN
AMRO signed a third supplemental agreement (the &#147;ABN $31,000 Third Supplemental&#148;) and agreed to revise certain covenants
governing this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>e)</B></TD><TD><B>HSH Nordbank AG $64,500 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October&nbsp;3, 2011, the Company entered
into a $64,500&nbsp;secured term loan agreement (the &#147;HSH Nordbank $64,500&nbsp;Facility&#148;) with HSH Nordbank AG (&#147;HSH
Nordbank&#148;) to repay, together with cash on hand, certain existing debt. The borrowers under the HSH Nordbank $64,500&nbsp;Facility
are the vessel-owning subsidiaries that own the vessels <I>Star Cosmo, Star Kappa, Star Sigma, Star Omicron</I> and <I>Star Ypsilon</I>,
and Star Bulk Carriers Corp. is the guarantor. This facility consists of two tranches. The first tranche of $48,500 (the &#147;Supramax
Tranche&#148;) is repayable in 20 quarterly consecutive installments of $1,250 commencing in January&nbsp;2012 and a final balloon
payment of $23,500 payable at the maturity, in September, 2016. The second tranche of $16,000 (the &#147;Capesize Tranche&#148;)
was repayable in 12 consecutive, quarterly installments of $1,333, commencing in January&nbsp;2012 and matured in September&nbsp;2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD><B>Long-term debt &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>e)</B></TD><TD><B>HSH Nordbank AG $64,500 Facility &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 17, 2013, the Company and HSH Nordbank
signed a supplemental agreement (the &#147;HSH Nordbank $64,500 Supplemental&#148;). Under the HSH Nordbank $64,500&nbsp;Supplemental,
the Company agreed, subject to certain conditions, to (i) amend some of the covenants governing this facility until December 31,
2014, (ii) defer a minimum of approximately $3,500 payments from January&nbsp;1, 2013 until December&nbsp;31, 2014, (iii)&nbsp;prepay
an amount of $6,590 with pledged cash already held by HSH Nordbank, (iv)&nbsp;raise $20,000 in equity (which condition was satisfied
after the completion of the Company&#146;s rights offering in July 2013, (Note 9), (v) increase the loan margins from January
1, 2013 until December 31, 2014, (vi)&nbsp;include a semi-annual cash sweep mechanism, under which all earnings of the mortgaged
vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be
used as prepayment to the balloon payment of the Supramax Tranche, and (vii)&nbsp;not pay any dividends until December&nbsp;31,
2014 or later in case of a covenant breach. When the Company sold the vessel <I>Star Sigma </I>in April&nbsp;2013, the HSH Nordbank
$64,500 Supplemental also required the Company to use the proceeds from the sale to fully prepay the balance of the Capesize Tranche
and use the remaining vessel sale proceeds to prepay a portion of the Supramax Tranche. As a result, the next seven scheduled quarterly
installments commencing in April 2013 were reduced pro rata according to the prepayment from $813 to $224.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company and HSH Nordbank
signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>f)</B></TD><TD><B>HSH Nordbank AG $35,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February&nbsp;6, 2014, the Company entered
into a new $35,000 secured term loan agreement (the &#147;HSH Nordbank $35,000 Facility&#148;) with HSH Nordbank AG. The borrowings
under this new loan agreement were used to partially finance the acquisition cost of the vessels <I>Star Challenger </I>and <I>Star
Fighter.</I> The HSH Nordbank $35,000 Facility is secured by a first priority mortgage over the financed vessels. The borrowers
under the HSH Nordbank $35,000 Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers
Corp. is the guarantor. This facility matures in February&nbsp;2021 and is repayable in 28 equal, consecutive, quarterly installments,
commencing in May&nbsp;2014, of $312.5 and $291.7 for the <I>Star Challenger</I> and <I>Star Fighter</I>, respectively, and a final
balloon payment of $8,750 and $9,332.4, payable together with the last installments, for <I>Star Challenger </I>and <I>Star Fighter,</I>
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company and HSH Nordbank
signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>g)</B></TD><TD><B>Deutsche Bank AG $39,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March&nbsp;14, 2014, the Company entered
into a $39,000 secured term loan agreement with Deutsche Bank AG (the &#147;Deutsche Bank $39,000 Facility&#148;). The borrowings
under this loan agreement were used to partially finance the acquisition cost of the vessels <I>Star Sirius</I> and <I>Star Vega.
</I>The Deutsche Bank $39,000 Facility is secured by a first priority mortgage over the financed vessels. The borrowers under the
Deutsche Bank $39,000 Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. is
the guarantor.<I> </I>This facility consists of two tranches of $19,500 each and matures in March&nbsp;2021. Each tranche is repayable
in 28 equal, consecutive, quarterly installments of $390 each commencing in June&nbsp;2014, and a final balloon payment of $8,580
payable at maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company entered into
a supplemental letter with Deutsche Bank AG to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD><B>Long-term debt &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>h)</B></TD><TD STYLE="text-align: justify"><B>ABN $87,458 Facility</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August&nbsp;1, 2013, Oceanbulk Shipping
entered into a $34,458 credit facility with ABN AMRO, N.V. (the &#147;ABN AMRO $87,458 Facility&#148;) in order to partially
finance the acquisition cost of the vessels <I>Obelix</I> and <I>Maiden Voyage</I>. The loans under the ABN AMRO $87,458 Facility
were available in two tranches of $20,350 and $14,108. On August&nbsp;6, 2013, Oceanbulk Shipping drew down the available tranches.
On December&nbsp;18, 2013, the ABN AMRO $87,458 Facility was amended to add an additional loan of $53,000 to partially finance
the acquisition cost of the vessels <I>Big Bang, Strange Attractor, Big Fish</I> and<I> Pantagruel</I>. On December&nbsp;20, 2013,
Oceanbulk Shipping drew down the available tranches. The tranche under the ABN AMRO $87,458 Facility relating to vessel <I>Obelix</I>
matures in September&nbsp;2017, the one relating to vessel <I>Maiden Voyage </I>matures in August&nbsp;2018 and those relating
to vessels <I>Big Bang, Strange Attractor, Big Fish and Pantagruel, </I>mature in December&nbsp;2018. The tranches are repayable
in quarterly consecutive installments ranging between $248 to $550 and a final balloon payment for each tranche at maturity, ranging
between $2,500 and $12,813. The ABN AMRO $87,458 Facility is secured by a first-priority ship mortgage on the financed vessels
and general and specific assignments and was guaranteed by Oceanbulk Shipping LLC. Following the completion of the Merger, Star
Bulk Carriers Corp. replaced Oceanbulk Shipping as guarantor of the ABN AMRO $87,458 Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
supplemental letter with ABN AMRO to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August 2015, the tranche relating to
the vessel <I>Maiden Voyage </I>was fully repaid, following the sale of the vessel (Note 5).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2016, the Company entered
into an  agreement with a third party to sell the vessel <I>Obelix</I>, which is expected to be delivered to its new owners
by April 2016. In connection with this sale, the tranche relating to the vessel <I>Obelix</I> is expected to be repaid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.5in"><B>i) </B></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><B>Deutsche Bank $85,000 Facility</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May&nbsp;20, 2014, Oceanbulk Shipping
entered into a loan agreement with Deutsche Bank AG Filiale Deutschlandgeschaft for the financing of an aggregate amount of $85,000
(the &#147;Deutsche Bank $85,000 Facility&#148;), in order to partially finance the construction cost of the newbuilding vessels
<I>Magnum Opus</I>, <I>Peloreus </I>and<I> Leviathan</I>. Each tranche matures five years after the drawdown date. The applicable
tranches were drawn down concurrently with the deliveries of the financed vessels, in May, July&nbsp;and September&nbsp;2014, respectively.
Each tranche is subject to 19 quarterly amortization payments equal to 1/60th of the tranche amount, with the 20th payment equal
to the remaining amount outstanding on the tranche. The Deutsche Bank $85,000 Facility is secured by first priority cross-collateralized
ship mortgages on the financed vessels, and general and specific assignments and was originally guaranteed by Oceanbulk Shipping.
On July&nbsp;4, 2014, an amendment to the Deutsche Bank $85,000 Facility was executed in order to add ITF International Transport
Finance Suisse AG as a lender. On November 4, 2014, a supplemental letter was signed to replace Oceanbulk Shipping with Star Bulk
Carriers Corp. as guarantor of this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
supplemental letter with Deutsche Bank AG Filiale Deutschlandgeschaft to amend certain covenants governing this facility until
December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2016, the tranche relating to
the vessel <I>Magnum Opus </I>was fully repaid, following the sale of the respective vessel (Note 20).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD><B>Long-term debt &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 0.5in">j)</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><B> &#9; HSBC $86,600 Facility</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June&nbsp;16, 2014, Oceanbulk Shipping
entered into a loan agreement with HSBC Bank plc. (the &#147;HSBC $86,600 Facility&#148;) for the financing of an aggregate amount
of $86,600, to partially finance the acquisition cost of the second hand vessels <I>Kymopolia</I>, <I>Mercurial Virgo</I>, <I>Pendulum</I>,
<I>Amami</I> and <I>Madredeus</I>. The loan, which was drawn in June&nbsp;2014, matures in May&nbsp;2019 and is repayable in 20
quarterly installments, commencing three months after the drawdown, of $1,555 plus a balloon payment of $55,500 due together with
the last installment. The HSBC $86,600 Facility is secured by a first priority mortgage over the financed vessels and general and
specific assignments and was originally guaranteed by Oceanbulk Shipping. On September&nbsp;11, 2014, a supplemental agreement
to the HSBC $86,600 Facility was executed in order to replace Oceanbulk Shipping with Star Bulk Carriers Corp. as guarantor of
the HSBC $86,600 Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>k)</B></TD><TD><B>HSBC $20,000 Dioriga Facility</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April&nbsp;14, 2014, Dioriga Shipping
Co. entered into a loan agreement with HSBC Bank plc (the &#147;HSBC $20,000 Dioriga Facility&#148;) for $20,000 to partially
finance the construction cost of the vessel <I>Tsu Ebisu</I>, which was delivered in April&nbsp;2014. The HSBC $20,000 Dioriga
Facility matures in March&nbsp;2019 and is repayable in 20 quarterly installments of $350 each, commencing three months after the
drawdown, plus a balloon payment of $13,000 due together with the last installment. The HSBC $20,000 Dioriga Facility is secured
by a first priority mortgage over the financed vessel and general and specific assignments. On October&nbsp;3, 2014, a supplemental
agreement to the HSBC $20,000 Dioriga Facility was executed in order for Star Bulk Carriers Corp. to become the guarantor of the
HSBC $20,000 Dioriga Facility and to include covenants similar to those of the Company&#146;s other vessel financing facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 30, 2015, the Company entered into
second supplemental agreements with HSBC Bank plc to amend certain covenants included in the HSBC $86,600 Facility and HSBC $20,000
Dioriga Facility until December 31, 2016. In addition, the Company agreed to provide a first priority cross collateralized mortgage
over the financed vessels of the HSBC $86,600 Facility and the financed vessel of the HSBC $20,000 Dioriga Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2015, the Company entered
into separate agreement with third party to sell the vessel <I>Tsu Ebisu</I> (Note 20) and therefore the Dioriga $20.0
million Facility was fully repaid in January 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 0.5in">l)</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><B> &#9; CEXIM $57,360 Facility</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June&nbsp;26, 2014, Oceanbulk Shipping
entered into a loan agreement with the Export-Import Bank of China (the &#147;CEXIM $57,360 Facility&#148;) for the financing
of an aggregate amount of up to $57,360, which will be available in two tranches of $28,680 each, to partially finance the construction
cost of the two newbuilding Vessels <I>Bruno Marks</I> (ex-HN 1312) delivered in January 2016 and HN 1313 (tbn <I>Jenmark</I>),
with expected delivery in March 2016.&nbsp; Each tranche will mature ten years from the delivery of the last delivered financed
vessel and is repayable in 20 semi-annual installments of $1,147 plus a balloon payment of $5,736, with the first installment being
due on the first January&nbsp;21 or July&nbsp;21, six months after the delivery of each vessel. In December 2015, the Company entered
into separate agreements with third parties to sell the newbuilding vessels <I>Bruno Marks and Jenmark, </I>upon their delivery
to the Company (Note 6) and therefore the CEXIM $57,360 Facility was terminated without being drawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>m)</B></TD><TD><B>NIBC $32,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November&nbsp;7,&nbsp;2014, the Company
and NIBC Bank N.V. entered into an agreement with respect to a credit facility (the &#147;NIBC $32,000 Facility&#148;) for the
financing of an aggregate amount of up to $32,000, which is available in two tranches of $16,000, to partially finance the construction
cost of two newbuilding vessels, <I>Star Aquarius</I> (ex-HN 5040) and <I>Star Pisces</I> (ex-HN 5043). An amount of $15,237 for
each vessel was drawn in July and August 2015, concurrently with the delivery of the respective vessels to the Company. Each tranche
is repayable in consecutive quarterly installments of $255, commencing three months after the drawdown of each tranche, plus a
balloon payment of $9,633 and $9,888, for each of the two vessels, both due in November 2020. The NIBC $32,000 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
supplemental letter with NIBC Bank N.V to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>n)</B></TD><TD STYLE="text-align: justify"><B>BNP $32,480 Facility:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 3, 2014, Positive Shipping
Company, a subsidiary of Star Bulk following the completion of the Pappas Transaction, and BNP Paribas entered into an agreement
with respect to a credit facility (the &#147;BNP $32,480 Facility&#148;) for the financing of up to $32,500 to partially finance
the construction cost of its newbuilding vessel <I>Indomitable</I> (ex-HN 5016). An amount of $32,480 was drawn in December 2014,
in anticipation of the delivery of the <I>Indomitable</I> to the Company on January 8, 2015. The facility is repayable in 20 equal,
consecutive, quarterly principal payments of $537.2 each, with the first becoming due and payable three months from the drawdown
date and a balloon installment of $21,737 payable simultaneously with the 20<SUP>th </SUP>installment, which is due in December
2019. The BNP $32,480 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 3, 2015, the Company signed a supplemental
letter with BNP Paribas to amend certain covenants governing this facility from June 30, 2015 until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2015, the Company entered
into separate agreement with third party to sell the vessel <I>Indomitable</I>. In connection with this sale, the BNP $32.48
million Facility is expected to be repaid in March 2016 along with the delivery of the vessel to its new owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>o)</B></TD><TD STYLE="text-align: justify"><B>Excel Vessel Bridge Facility (Note 3 and Note 20):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 19, 2014, the Company, through
Unity Holdings LLC (&#147;Unity&#148;), a fully owned subsidiary, entered into a $231,000 Senior Secured Credit Agreement, among
Unity, as Borrower, the initial lenders named therein, as Initial Lenders, affiliates of Oaktree and Angelo Gordon as Lenders,
and Wilmington Trust National Association, as Administrative Agent. The Company used borrowings under the Excel Vessel Bridge Facility
to fund portion of the cash consideration for the Excel Vessels. The Excel Vessel Bridge Facility would mature in February 2016,
with mandatory repayments of $6,000, each due in March, June and September 2015. Unity, Star Bulk, and each individual vessel-owning
subsidiary of Unity were guarantors under the Excel Vessel Bridge Facility. As of December 31, 2014 an amount of $195,914 had been
drawn under the Excel Vessel Bridge Facility, of which an amount of $139,753 was prepaid from proceeds from the Citi Facility and
the DNB $120,000 Facility (discussed below), with such prepayment being applied in direct order of maturity according to the provisions
of the Excel Vessel Bridge Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2014, the classification
of the Excel Vessel Bridge Facility, in the accompanying balance sheet was made according to the repayment schedules of the Citi
Facility and DNB $120,000 Facility. On January 29, 2015, the Company fully prepaid and terminated the Excel Vessel Bridge Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>p)</B></TD><TD STYLE="text-align: justify"><B>DVB $24,750 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 30, 2014, the Company and DVB
Bank SE, Frankfurt entered into an agreement with respect to a credit facility (the &#147;DVB $24,750 Facility&#148;), to partially
finance the acquisition of 100% of the equity interests of Christine Shipco LLC, which is the owner of the vessel&nbsp;<I>Star
Martha</I>&nbsp;(ex-Christine), one of the 34 Excel Vessels. On October&nbsp;31, 2014, the Company drew $24,750 to pay Excel the
related cash consideration. The DVB $24,750 Facility is repayable in 24 consecutive, quarterly principal payments of $900 for each
of the first four quarters and of $450 for each of the remaining 20 quarters, with the first becoming due and payable three months
from the drawdown date, and a balloon payment of $12,150 payable simultaneously with the last quarterly installment, which is due
in October&nbsp;2020. The DVB $24,750 Facility is secured by a first priority pledge of the membership interests of the Christine
Shipco LLC and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
supplemental letter with DVB Bank SE, Frankfurt to amend certain covenants governing this facility until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>q)</B></TD><TD><B>Excel Vessel CiT Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December&nbsp;9, 2014, the Company entered
into a credit facility with CiT Finance LLC (the &#147;Excel Vessel CiT Facility&#148;) for an amount up to $30,000 to partially
finance the acquisition of 11 of the older Excel Vessels. The Excel Vessel CiT Facility is secured on a first-priority basis by
these 11 financed vessels, which consist of nine Panamax and two Handymax vessels (the &#147;Excel Collateral Vessels&#148;).
Pursuant to an intercreditor agreement executed among the lenders under the Excel Vessel Bridge Facility and Excel Vessel CiT Facility,
the Excel Collateral Vessels also secured the Excel Vessel Bridge Facility on a second-priority basis. On December&nbsp;10, 2014,
the Company drew $30,000 under the Excel Vessel CiT Facility. The borrowers under the Excel Vessel CiT Facility were the various
vessel-owning subsidiaries that own the Excel Collateral Vessels and Star Bulk Carriers Corp. was the guarantor. The Excel Vessel
CiT Facility would mature in December&nbsp;2016 and was subject to quarterly amortization payments of $500, commencing on March&nbsp;31,
2015, with a balloon payment equal to the outstanding amount under the Excel Vessel CiT Facility payable simultaneously with the
last quarterly installment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 10, 2015, the Company fully repaid
the Excel Vessel CiT Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>r)</B></TD><TD STYLE="text-align: justify"><B>Sinosure Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 22, 2014, the Company executed
a binding term sheet with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc (the &#147;Sinosure Facility&#148;)
for the financing of an aggregate amount of up to $156,453 to partially finance the construction cost of eight newbuilding vessels,
<I>Honey Badger (ex&ndash;HN NE 164)</I>, Wolverine (ex-HN NE 165), Star Antares (ex-HN NE 196), <I>Star Lutas</I> (ex-HN NE 197),
HN 1080 (tbn <I>Kennadi</I>), HN 1081 (tbn <I>Mackenzie</I>), HN 1082 (tbn <I>Night Owl</I>) and HN 1083 (tbn <I>Early Bird</I>)
(the &#147;Sinosure Financed Vessels&#148;). The financing under the Sinosure Facility is available in eight separate tranches,
one for each Sinosure Financed Vessel, and is credit insured (95%) by China Export &amp; Credit Insurance Corporation. The final
loan documentation for the Sinosure Facility was signed on February 11, 2015. Each tranche, which is documented by a separate
credit agreement, matures twelve years after each drawdown date and is repayable in 48 equal and consecutive quarterly installments.
The Sinosure Facility is secured by a first priority cross collateralized mortgage over the Sinosure Financed Vessels and general
and specific assignments and is guaranteed by Star Bulk Carriers Corp. The vessels <I>Honey Badger</I> and <I>Wolverine</I> were
delivered to the Company in February 2015. The vessel <I>Star Antares </I>was delivered to the Company in<I> </I>October 2015<I>.
</I>The vessels<I> Star Lutas </I>and <I>Kennadi</I> were delivered to the Company in early January 2016 and the vessel <I>Mackenzie
</I>was delivered to the Company in March 2016 (Note 20)<I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>r)</B></TD><TD STYLE="text-align: justify"><B>Sinosure Facility &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 2, 2015, the Company signed
a supplemental letter agreement with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc to amend certain covenants
governing the existing credit agreements from June 26, 2015 until December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>s)</B></TD><TD STYLE="text-align: justify"><B>Citi Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December&nbsp;22, 2014, the Company
entered into a credit facility with Citibank, N.A., London Branch (the &#147;Citi Facility&#148;) to provide financing in an
amount of up to $100,000, in lieu of the Excel Vessel Bridge Facility, in connection with the acquisition of vessels <I>Star Pauline
(ex&ndash;Sandra)</I>, <I>Star Despoina (ex&ndash;Lowlands Beilun)</I>, <I>Star Angie</I>, <I>Star Sophia</I>, <I>Star Georgia</I>,
<I>Star Kamila</I> and <I>Star Nina,</I> which are seven of the Excel Vessels the Company has acquired (the &#147;Citi Financed
Excel Vessels&#148;). The first tranche of $51,477.5 was drawn on December&nbsp;23, 2014, and the second tranche of $42,627.5
was drawn on January&nbsp;21, 2015. The Company used amounts drawn under the Citi Facility to repay portion of the Excel Vessel
Bridge Facility in respect of those Citi Financed Excel Vessels. The Citi Facility matures on December&nbsp;30, 2019. The Citi
Facility is repayable in 20 equal, consecutive, quarterly principal payments of $3,388, with the first installment due on March&nbsp;30,
2015 and a balloon installment of $26,349 payable simultaneously with the 20<SUP>th</SUP> quarterly installment. The Citi Facility
is secured by a first priority mortgage over the Citi Financed Excel Vessels and general and specific assignments and is guaranteed
by Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 30, 2015, the Company signed a
supplemental Agreement with Citibank, N.A., London Branch to amend certain covenants governing this agreement until December 31,
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt- (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>t)</B></TD><TD><B>Heron Vessels Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2014, the Company entered into
a secured term loan agreement with CiT Finance LLC (the &#147;Heron Vessels Facility&#148;), in the amount of $25,311, in order
to partially finance the acquisition cost of the two Heron Vessels, <I>Star Gwyneth</I> and <I>Star Angelina</I>. The drawdown
of the financed amount incurred in December 2014, when the Company took delivery of the Heron Vessels. The facility matures on
June 30, 2019, and is repayable in 19 equal consecutive, quarterly principal payments of $744.4 (with the first becoming due and
payable on December 31, 2014), and a balloon installment payable at maturity equal to the then outstanding amount of the loan.
The facility is secured by a first priority mortgage over the financed vessels and general and specific assignments and is guaranteed
by Star Bulk Carrier Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 1, 2015, the Company signed a supplemental
letter with CiT Finance LLC to amend certain covenants governing this agreement from June 30, 2015 until December 31, 2016 and
to add the vessel <I>Star Aline</I> as collateral under this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>u)</B></TD><TD><B>DNB $120,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 29, 2014, the Company entered
into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA, NIBC Bank N.V
and Skandinaviska Enskilda Banken AB as original lenders, mandated lead arrangers and hedge counterparties (the &#147;DNB $120,000
Facility&#148;), to provide financing for up to $120,000, in lieu of the Excel Vessel Bridge Facility, in connection with the
acquisition of vessels <I>Star Nasia</I>, <I>Star Monisha</I>,<I> Star Eleonora</I>,<I> Star Danai</I>, <I>Star Renee</I>, <I>Star
Markella</I>, <I>Star Laura</I>, <I>Star Moira</I>, <I>Star Jennifer</I>, <I>Star Mariella</I>, <I>Star Helena</I> and <I>Star
Maria,</I> which are 12 of the Excel Vessels the Company has acquired (the &#147;DNB Financed Excel Vessels&#148;). The Company
drew $88,275 on December 30, 2014, $9,515 in January, 2015, $9,507 in February 2015 and $7,769 in April 2015. The Company used
amounts drawn under the DNB $120,000 Facility to repay portion of the amounts drawn under the Excel Vessel Bridge Facility relating
to the DNB Financed Excel Vessels. The DNB $120,000 Facility matures in December&nbsp;2019 and is repayable in 20 equal, consecutive,
quarterly principal payments of $4,374, with the first installment due in March&nbsp;2015, and a balloon installment of $29,160
payable simultaneously with the 20th installment. The DNB $120,000 Facility is secured by a first priority mortgage over the DNB
Financed Excel Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
supplemental letter with the lenders under this facility to amend certain covenants governing this agreement until December 31,
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>v)</B></TD><TD><B>DVB $31,000 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 21, 2015, the Company entered into
an agreement with DVB Bank SE (the &#147;DVB $31,000 Facility&#148;) for up to $31,000 to partially finance the construction cost
of the newbuilding vessel <I>Deep Blue</I> (ex-HN 5017). The Company drew $28,680 in May 2015, upon the vessel&#146;s delivery
to the Company. The facility is repayable 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 24th installment in May 2021. The DVB $31,000 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. In March 2016, this facility was fully
repaid following the sale of the vessel <I>Deep Blue</I> (Note 20).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>w)</B></TD><TD><B>BNP $39,500 Facility: </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 <I>Megalodon</I>
(ex&ndash;HN5056) and the 2004-built Panamax vessel <I>Star Emily</I>. The loan agreement was executed on September 14, 2015 (the
&#147;BNP $39,500 Facility&#148;). In early 2016, the Company entered into an agreement to sell the newbuilding vessel <I>Megalodon</I>
(ex-HN5056) upon its delivery to the Company (Note 6), and the loan agreement was terminated without having been drawn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>x)</B></TD><TD><B>DNB&ndash;SEB&ndash;CEXIM $227,500 Facility:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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&ndash;SEB&ndash;CEXIM $227,500 Facility&#148;) for up to $227,500 to partially finance the construction
cost of seven newbuilding vessels, <I>Gargantua</I> (ex-HN166), <I>Goliath</I> (ex&ndash;HN167), <I>Maharaj</I> (ex&ndash;HN184),
HN1338 (tbn <I>Star Aries</I>), HN1339 (tbn <I>Star Taurus</I>), HN1342 (tbn <I>Star Gemini</I>) and HN198 (tbn <I>Star Poseidon</I>).
The financing is available in seven separate tranches, one for each newbuilding vessel. The first tranche of $32,400 and the second
and third tranche of $30,300 each were drawn, upon the delivery of the vessels <I>Gargantua, Goliath </I>and <I>Maharaj </I>in
2015. The fourth tranche of $23,400 was drawn, upon the delivery of the vessel <I>Star Poseidon</I> in February 2016 (Note 20).
The tranches are repayable in 24 quarterly consecutive installments ranging between $367 and $508, with the first becoming due
and payable three months from the drawdown date of each tranche and a final balloon installment for each tranche, ranging between
$14,587 million and $20,198 million, payable simultaneously with the 24th&nbsp;installment. The DNB&ndash;SEB&ndash;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2015, the Company signed a
supplemental letter with the lenders under this facility to amend certain covenants governing this facility until December 31,
2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following the sale of the <I>Star Aries
</I>and the <I>Star Taurus</I> (Note 20), the Company will not draw down on two tranches under this facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>y)</B></TD><TD><B>Issuance of the 8.00% 2019 Notes:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November&nbsp;6, 2014, the Company issued
$50,000 aggregate principal amount of 8.00% Senior Notes due 2019 (the &#147;2019 Notes&#148;). The net proceeds were $48,425.
The 2019 Notes mature in November&nbsp;2019 and are senior, unsecured obligations of Star Bulk Carriers Corp. The 2019 Notes are
not guaranteed by any of the Company&#146;s subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2019 Notes bear interest at a rate
of 8.00% per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on February
15, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company may redeem the 2019 Notes,
in whole or in part, at any time on or after November&nbsp;15, 2016 at a redemption price equal to 100% of the principal amount
to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Prior to November&nbsp;15, 2016, the Company
may redeem the 2019 Notes, in whole or in part, at a price equal to 100% of their principal amount plus a make-whole premium and
accrued and unpaid interest to the date of redemption. In addition, the Company may redeem the 2019 Notes in whole, but not in
part, at any time, at a redemption price equal to 100% of their principal amount to be redeemed, plus accrued and unpaid interest
to, but excluding, the redemption date, if certain events occur involving changes in taxation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>y)</B></TD><TD><B>Issuance of the 8.00% 2019 Notes &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The indenture governing the 2019 Notes
contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee
or the holders of not less than 25% in aggregate principal amount of the 2019 Notes then outstanding may declare the entire principal
amount of all the 2019. Notes plus accrued interest, if any, to be immediately due and payable. Upon certain change of control
events, the Company is required to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus
accrued and unpaid interest to, but not including, the date of redemption. If the Company receives net cash proceeds from certain
asset sales and does not apply them within a specified deadline, the Company will be required to apply those proceeds to offer
to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including,
the date of redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>z)</B></TD><TD><B>Credit Facility Covenants:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#146;s outstanding credit
facilities generally contain customary affirmative and negative covenants, on a subsidiary level, including limitations to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">incur additional indebtedness, including the issuance of guarantees;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">create liens on its assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">change the flag, class or management of its vessels or terminate or materially amend the management
agreement relating to each vessel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">sell its vessels;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">merge or consolidate with, or transfer all or substantially all its assets to, another person;
or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">enter into a new line of business.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Under the DNB&ndash;SEB&ndash;CEXIM
$227,500 Facility, the Company is not allowed to pay dividends until December 2017, if the Company&#146;s liquid funds are not
greater than (i) $200,000 or (ii) $2,000 per fleet vessel. 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 occurred and
is continuing or would result from such dividend or distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Furthermore, the Company&#146;s credit
facilities contain financial covenants requiring the Company to maintain various financial ratios, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a minimum percentage of aggregate vessel value to loans secured (security cover ratio or &#147;SCR&#148;);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a maximum ratio of total liabilities to market value adjusted total assets;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a minimum EBITDA to interest coverage ratio;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a minimum liquidity; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a minimum equity ratio</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2014 and 2015, the Company
was required to maintain minimum liquidity, not legally restricted, of $35,400 and $150,000, respectively, which is included within
&#147;Cash and cash equivalents&#148; in the accompanying balance sheets. In addition, as of December 31, 2014 and 2015, the
Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,997, respectively, which is included
within &#147;Restricted cash&#148; current and non-current , in the accompanying balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2015, as a result of
market conditions, the market value of certain of the Company&#146;s vessels was below the minimum SCR required under certain
loan agreements. A SCR shortfall does not automatically trigger the acceleration of the corresponding loans or constitute a default
under the relevant loan agreements. Under these loan agreements, the Company may remedy an SCR shortfall within a period of 10
to 30 days after it receives notice from the lenders by providing additional collateral or repaying the amount of the shortfall.
The Company has not received any notices from the relevant lenders that would indicate their intention to exercise their rights
under the SCR provisions of the relevant loan agreements and cause acceleration of respective outstanding loan amounts. As of
December 31, 2015, $14,268, which was the amount that could be made repayable under the SCR provisions by the lenders (or
&ldquo;SCR Shortfall Amount&rdquo;), was reclassified as current portion of long term debt within current liabilities. Apart
from this, as of December 31, 2014 and 2015, the Company was in compliance with the applicable financial and other covenants contained
in its debt agreements, including the 2019 Notes.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The weighted average interest rate related
to the Company&#146;s existing debt (including the margin) as of December 31, 2013, 2014 and 2015 was 3.34%, 3.53 % and 3.69 %,
respectively. The commitment fees incurred during the years ended December 31, 2014 and 2015, with regards to the Company&#146;s
unused credit facilities were $637 and $3,157, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Long-term debt &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal payments required to be made
after December 31, 2015, for all the then outstanding debt, are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Years</B></P></TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Amount</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2016</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">112,873</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2017</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">87,826</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2018</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">184,886</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2019</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">326,573</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2020</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">53,620</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">December 31, 2021 and thereafter</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">145,960</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total (including 8.00% 2019 Notes)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>911,738</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Excluding 8.00% 2019 Notes </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">50,000</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total Long term debt</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10.05pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2.25pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>861,738</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount of $112,873, which is payable
during the next twelve months ending December 31, 2016, does not include the SCR Shortfall Amount of $14,268, which was reclassified
as current portion of long term debt as described above. At December 31, 2015, 61 of the Company&#146;s 70 owned vessels,
having a net carrying value of $1,559,339, were subject to first-priority mortgages as collateral to its loan facilities.<SUP>
</SUP>In addition four of the Company&#146;s bareboat vessels, having a net carrying value of $121,010, were cross-collateral
under the Company&#146;s bareboat lease agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of the Company&#146;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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 90%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: middle">
    <td rowspan="2" style="font-weight: bold; width: 47%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 13%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 3%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 13%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 5%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; text-align: center; width: 14%"><FONT STYLE="color: Black">&nbsp;</FONT></td></tr>
<tr style="vertical-align: middle">
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">2013</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">2014</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="color: Black">2015</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <td style="text-align: left"><FONT STYLE="color: Black">Interest on long term debt&nbsp;</FONT></td>
    <td style="text-align: left"><FONT STYLE="color: Black">$</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">6,786</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: left"><FONT STYLE="color: Black">$</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">15,362</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: left"><FONT STYLE="color: Black">$</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">35,969</FONT></td></tr>
<tr style="vertical-align: middle">
    <td style="text-align: left"><FONT STYLE="color: Black">Less: Interest capitalized&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">(633)</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">(7,838)</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">(12,079)</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <td style="text-align: left"><FONT STYLE="color: Black">Reclassification adjustments of interest rate swap loss transferred
    to Interest and finance costs from Other comprehensive income&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&mdash;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">1,055</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">2,416</FONT></td></tr>
<tr style="vertical-align: middle">
    <td style="text-align: left"><FONT STYLE="color: Black">Amortization of deferred finance charges&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">522</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">681</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">2,732</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCECFF">
    <td style="text-align: left"><FONT STYLE="color: Black">Other bank and finance charges&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">139</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">315</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="text-align: right"><FONT STYLE="color: Black">623</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <td style="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Interest and finance costs</FONT></td>
    <td style="border-top: Black 0.5pt solid; font-weight: bold; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="color: Black">$</FONT></td>
    <td style="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="color: Black">6,814</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="border-top: Black 0.5pt solid; font-weight: bold; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="color: Black">$</FONT></td>
    <td style="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="color: Black">9,575</FONT></td>
    <td style="font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <td style="border-top: Black 0.5pt solid; font-weight: bold; border-bottom: Black 2pt double; text-align: left"><FONT STYLE="color: Black">$</FONT></td>
    <td style="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right"><FONT STYLE="color: Black">29,66</FONT>1</td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In connection with the
partial prepayment of Excel Vessel Bridge Facility, $652 of unamortized deferred finance charges were written off and included
under &#147;Loss on debt extinguishment&#148; in the accompanying consolidated statement of operations for the year ended December
31, 2014. In addition, 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 were written off and
included under &#147;Loss on debt extinguishment&#148; in the accompanying consolidated statement of operations for the year
ended December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>9.</B></TD><TD><B>Preferred, Common Stock and Additional paid in capital:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Preferred Stock: </B>Star Bulk is authorized
to issue up to 25,000,000 shares of preferred stock, $0.01 par value with such designations, as voting, and other rights and preferences,
as determined by the Board of Directors. As of December 31, 2014 and 2015 the Company had not issued any preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Common Stock: </B>Star Bulk was authorized
to issue 100,000,000 registered common shares, par value $0.01. On November 23, 2009, at the Company&#146;s annual meeting of
shareholders, the Company&#146;s shareholders voted to approve an amendment to the Amended and Restated Articles of Incorporation
increasing the number of common shares that the Company is authorized to issue from 100,000,000 registered common shares, par value
$0.01 per share, to 300,000,000 registered common shares, par value $0.01 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each outstanding share of the Company&#146;s
common stock entitles the holder to one vote on all matters submitted to a vote of shareholders. Subject to preferences that may
be applicable to any outstanding shares of preferred stock, holders of shares of common stock are entitled to ratably receive
all dividends, if any, declared by the Company&#146;s Board of Directors out of funds legally available for dividends.
Holders of common stock do not have conversion, redemption or preemptive rights to subscribe to any of the Company&#146;s securities.
All outstanding shares of common stock are fully paid and non-assessable. The rights, preferences and privileges of holders of
shares of common stock are subject to the rights of the holders of any shares of preferred stock which the Company may issue in
the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>9.</B></TD><TD><B>Preferred, Common Stock and Additional paid in capital &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 25, 2013, pursuant to a rights
offering, approved by the Company&#146;s Board of Directors in April 2013, the Company issued 15,338,861 shares of common stock,
which resulted in net proceeds of $77,898 after deducting offering expenses of $2,167. The proceeds were primarily used for orders
for fuel-efficient dry bulk vessels with some of the proceeds being reserved for working capital and general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 7, 2013, the Company offered
8,050,000 common shares, in a primary underwritten public offering price of $8.80 per share less underwriters&#146; discount.
The sale of shares by the Company resulted in net proceeds of $68,124 after deducting offering expenses of $2,716. The Company
used the net proceeds from this offering for the partial funding of newbuilding vessels, for vessel acquisitions, and for general
corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As disclosed in Note 13 below, during the
year ended December 31, 2013, the Company issued: (i) 239,333 common shares in connection with its 2013 Equity Incentive Plan;
(ii) 12,000 common shares, which were granted to a former director of the Company; and (iii) 18,667 common shares to the former
Chief Executive Officer of the Company, representing the second and the third installments of his minimum guaranteed incentive
award in accordance with his consultancy agreement (Note 3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In July 2014, the Company issued as consideration
54,104,200 common shares in the July 2014 Transactions, consisting of 48,395,766 common shares for the Merger, 3,592,728 common
shares for the acquisition of the Pappas Companies and 2,115,706 common shares as partial consideration for the acquisition of
the Heron Vessels (Note 1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As disclosed in Note 3 above, 22,598 common
shares were issued during the year ended December 31, 2014, as part of the consideration for the acquisition of 33% of the total
outstanding common stock of Interchart.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As disclosed in Note 13 below, during the
year ended December 31, 2014, the Company issued: (i) 394,167 common shares in connection with its 2014 Equity Incentive Plan;
(ii) 8,000 common shares, which were granted to certain directors of the Company; (iii) 9,333 common shares to the Company&#146;s
former Chief Executive Officer, representing the first installment of his minimum guaranteed incentive award in accordance with
his consultancy agreement; and (iv) 168,842 the Company&#146;s former Chief Executive Officer pursuant to a termination agreement
dated July 31, 2014 (Note 3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August&nbsp;2014, the Company agreed
to issue the Excel Vessel Share Consideration of 29,917,312 common shares under the terms of the Excel Transactions. As of December
31, 2015, the Company had issued all shares, out of which 25,659,425 common shares were issued in 2014 as part of the Excel Vessel
Share Consideration and the remaining 4,257,887 shares were issued in 2015 (Note 1 and Note 5).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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&#146; commissions and offering expenses, were $242,211.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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&#146; commissions and offering expenses, were $175,586.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As disclosed in Note 3 above, 171,171 common
shares were issued during the year ended December 31, 2015, as consideration for the third installment payable to Oceanbulk Maritime
S.A. as commission for the shipbuilding contracts of certain of the Company&#146;s newbuilding vessels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>10.</B></TD><TD><B>Other operational gain:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2013, other
operational gain totaled $3,787, mainly consisting of $2,500 and $177 paid to the Company, in connection with the settlement of
two commercial claims (Note 17.1 (a) and (b)) and $1,030 regarding a gain from a hull and machinery claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 28, 2013, the Company received
a letter from the receivers of STX Pan Ocean Co. Ltd., or STX, terminating the charter agreement for the vessel <I>Star Borealis</I>,
effective immediately. <I>Star Borealis</I> was on time charter at an average gross daily charter rate of $24.75 for the period
from September 11, 2011 until July 11, 2021. On September 11, 2014, Star Bulk agreed the settlement of a claim for damages and
due hire brought by its subsidiary, Star Borealis LLC (&#147;Star Borealis&#148;) arising from the repudiation of the long-term
time charter by charterer STX, which claim had been filed with the Seoul Central District Court, Korea, (the &#147;Settled Claim&#148;).
Star Borealis negotiated, sold and assigned the rights to the Settled Claim to an unrelated third party for consideration of $8,016,
which was received on October 3, 2014. The Company recorded in 2014 a gain of approximately $9,377 including the extinguishment
of a $1,361 liability related to the amount of fuel and lubricants remaining on board of the vessel <I>Star Borealis</I> at the
time of the charter repudiation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, other operational gain for
the year ended December 31, 2014, includes $456 relating to a gain from a hull and machinery insurance claim and a gain from a
protection and indemnity claim, as well as $170 relating to a rebate from the Company&#146;s previous manning agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2015, other
operational gain of $592 was recognized, mainly consisting of $550 cash received from the sale of KLC shares acquired in connection
with the rehabilitation plan discussed below in Note 17.1.b.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Other operational loss:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 29, 2010, the Company entered
into an agreement with a third party to sell 45% of its interests in any future proceeds related to the recovery of certain of
the commercial claims for consideration of $5,000 (Note 17.1. (a)). During the year ended December 31, 2012, the Company came to
a legal settlement over a legal case included in the above agreement and paid the third party 45% of the proceeds from that settlement.
As a result, for the year ended December 31, 2013, other operational loss totaled $1,125, representing the expense incurred by
the Company to a third party in connection to the settlement of a commercial claim, based on the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2014 and
2015, other operational loss totaled $94 and $0, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Management fees:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">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
year ended December 31, 2015, were $7,985 and are included in Management fees in the accompanying consolidated statement of operations.
In addition, Management fees for the year ended December 31, 2015 also include $451 of fees incurred pursuant to the management
agreement with Maryville discussed in Note 3</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>13.</B></TD><TD STYLE="text-align: justify"><B>Equity Incentive Plans:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 21, 2013, the Company&#146;s
Board of Directors adopted the 2013 Equity Incentive Plan and reserved for issuance 240,000 common shares thereunder. The Plan
is designed to provide certain key persons, whose initiative and efforts are deemed to be important to the successful conduct of
the business of the Company with incentives to enter into and remain in the service of the Company, acquire an interest in the
success of the Company, maximize their performance and enhance the long-term performance of the Company. As of December 31, 2014,
all of the respective shares have been granted and vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 21, 2013, 239,333 restricted common
shares were granted to certain directors, officers, employees of the Company, the respective shares were issued on September 11,
2013, and vested on March 21, 2014. Additionally, on March 21, 2013, 12,000 restricted common shares were granted to a Company&#146;s
former director, the respective shares vested immediately and were issued on June 27, 2013. The fair value of each share was $6.46
and was determined by reference to the closing price of the Company&#146;s common stock on the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 20, 2014, the Company&#146;s
Board of Directors adopted the 2014 Equity Incentive Plan (the &#147;2014 Plan&#148;) and reserved for issuance 430,000 common
shares thereunder. The terms and conditions of the 2014 Plan are substantially similar to the terms and conditions of Company&#146;s
previous equity incentive plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>13.</B></TD><TD><B>Equity Incentive Plans &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 20, 2014, 394,167 restricted
common shares were granted to certain directors, officers and employees of the Company, which will vest on March 20, 2015. Additionally,
on February 20, 2014, 8,000 restricted common shares were granted to certain directors of the Company, which vested immediately.
The fair value of each share was $10.86, based on the closing price of the Company&#146;s common shares on the grant date. The
shares were issued in May 2014 along with 9,333 common shares to the Company&#146;s former Chief Executive Officer, representing
the first installment of his minimum guaranteed incentive award in accordance with his consultancy agreement (Note 3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 4, 2014, the Company issued an
aggregate of 168,842 common shares to its former Chief Executive Officer and current Non-Executive Chairman, in accordance with
the terms of an agreement to terminate his consultancy agreement, effective July 31, 2014 (Note 3). The fair value of each share
was $10.71, based on the closing price of the Company&#146;s common stock on the grant date, the date of the release agreement.
In addition, as a result of the termination agreement, the second and the third installments of his minimum guaranteed incentive
award under his consultancy agreement of 9,333 and 9,334, which would vest on May 3, 2015 and 2016, respectively, were cancelled
(Note 3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 11, 2014, 15,000 common shares
were granted to two of the Company&#146;s directors and vested on the same date. The Company plans to issue the respective shares
in 2016. The fair value of each share was $12.03, based on the closing price of the Company&#146;s common shares on the grant
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 13, 2015, the Company&#146;s
Board of Directors adopted the 2015 Equity Incentive Plan and reserved for issuance 1,400,000 common shares thereunder. The terms
and conditions of the 2015 Plan are substantially similar to the terms and conditions of Company&#146;s previous equity incentive
plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, on April 13, 2015, the Company
granted 676,150 restricted common shares 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&#146;s
common shares on the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The<FONT STYLE="background-color: white">
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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Option type:</I> Bermudan call option</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Grant Date: </I>April 13, 2015 </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Expected term:</I>&nbsp;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></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Expected volatility:</I>&nbsp;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></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Expected dividends:</I>&nbsp;The Company
does not currently pay any dividends to its shareholders, and the Company&#146;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&#146;s management determined that for purposes of this calculation the Company
is not expected to pay dividends before the expiration of the share options.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>13.</B></TD><TD><B>Equity Incentive Plans &ndash; (continued):</B></TD></TR>
</TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Dilution adjustment: </I>Compared to
the number of common shares outstanding, the Company&#146;s management considers the overall number of shares covered by the options
as immaterial, and no dilution adjustment was incorporated in the valuation model.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 40.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Risk-free rate:</I>&nbsp;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 expected to be 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></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">All non-vested shares
and options vest according to the terms and conditions of the applicable award agreements. 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. The dividends with respect to these shares are forfeitable. Share options have no voting or other
shareholder rights. For the years ended December 31, 2013, 2014 and 2015, the Company paid no dividends on non-vested shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company expects that there will be
no forfeitures of non-vested shares or options. The shares which are issued in accordance with the terms of the Company&#146;s
equity incentive plans or awards remain restricted until they vest. For the years ended December 31, 2013, 2014 and 2015, the stock
based compensation cost was $1,488, $5,834 and $2,684, respectively, and is included under &#147;General and administrative expenses&#148;
in the accompanying consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A summary of the status of the Company&#146;s
non-vested restricted shares as of December 31, 2013, 2014 and 2015, and the movement during these years is presented below.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: middle; background-color: white">
    <TD>&nbsp;</td>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</td>
    <TD STYLE="font-weight: bold; border-bottom: black 1pt solid; text-align: right"><BR>
Number of <FONT STYLE="color: Black">shares</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="color: Black">Weighted Average<BR> Grant Date Fair<BR> Value</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="width: 65%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; width: 8%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; width: 8%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; width: 5%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; width: 2%"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="font-weight: bold; text-align: right; width: 12%"><FONT STYLE="color: Black">&nbsp;</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Unvested as at January 1, 2013</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">18,667</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">$</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">36.75</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">Granted</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">279,333</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">6.43</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">Vested</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="color: Black">(21,333)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">19.71</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Unvested as at December 31, 2013</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="border-bottom: black 2pt double; text-align: right"><FONT STYLE="color: Black">276,667</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">$</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">7.46</FONT></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Unvested as at January 1, 2014</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">276,667</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">$</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">7.46</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">Granted</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">586,009</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">10.85</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">Vested</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">(449,842)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">8.94</FONT></td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="text-align: left; background-color: white"><FONT STYLE="color: Black">Cancelation of shares due to termination
    agreement with former CEO</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="color: Black">(18,667)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">6.20</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Unvested as at December 31, 2014</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="border-bottom: black 2pt double; text-align: right"><FONT STYLE="color: Black">394,167</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">$</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">10.86</FONT></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD><FONT STYLE="color: Black">&nbsp;</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Unvested as at January 1, 2015</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">394,167</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">$</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">10.86</FONT></td></tr>
<tr style="vertical-align: middle; background-color: white">
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">Granted</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">676,150</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">3.55</FONT></td></tr>
<tr style="vertical-align: middle; background-color: #CCEEFF">
    <TD STYLE="text-align: left"><FONT STYLE="color: Black">Vested</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">(394,167)</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">10.86</FONT></td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="color: Black">Unvested as at December 31, 2015</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 2pt double; text-align: right"><FONT STYLE="color: Black">676,150</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">$</FONT></td>
    <TD STYLE="text-align: right"><FONT STYLE="color: Black">3.55</FONT></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 63 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Equity
Incentive Plans &ndash; (continued):</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A summary of the status of the Company&#146;s non-vested share
options as of December 31, 2015, and the movement during the year, since granted, is presented below</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td nowrap>&nbsp;</td>
    <td nowrap style="vertical-align: bottom">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Shares</b></font></td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Weighted&nbsp;average<BR>
 exercise price</b></font></td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Weighted Average <BR>
Grant Date Fair Value</b></font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td nowrap style="width: 40%; border-bottom: Black 1pt solid; background-color: #CCEEFF"><font style="font-size: 10pt"><b>Options</b></font></td>
    <td style="width: 4%; background-color: #CCEEFF"></td>
    <td style="width: 12%; background-color: #CCEEFF; text-align: right">&nbsp;</td>
    <td style="vertical-align: bottom; width: 3%; background-color: #CCEEFF"></td>
    <td style="vertical-align: bottom; width: 3%; background-color: #CCEEFF"></td>
    <td style="width: 15%; background-color: #CCEEFF; text-align: right">&nbsp;</td>
    <td style="vertical-align: bottom; width: 2%; background-color: #CCEEFF"></td>
    <td style="vertical-align: bottom; width: 2%; background-color: #CCEEFF"></td>
    <td style="width: 18%; background-color: #CCEEFF; text-align: right">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr>
    <td nowrap><font style="font-size: 10pt">Outstanding at January 1, 2015</font></td>
    <td></td>
    <td style="text-align: right"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;&nbsp;&nbsp;</font></td>
    <td style="vertical-align: bottom"></td>
    <TD STYLE="text-align: left"><font style="font-size: 10pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;&nbsp;&nbsp;</font></td>
    <td style="vertical-align: bottom"></td>
    <TD STYLE="text-align: left"><font style="font-size: 10pt">$</font></td>
    <td style="text-align: right"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;&nbsp;&nbsp;&nbsp;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td nowrap style="background-color: #CCEEFF"><font style="font-size: 10pt">Granted</font></td>
    <td style="background-color: #CCEEFF"></td>
    <td style="background-color: #CCEEFF; text-align: right"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;521,250 </font></td>
    <td style="vertical-align: bottom; background-color: #CCEEFF"></td>
    <td style="vertical-align: bottom; background-color: #CCEEFF; text-align: right"></td>
    <td style="background-color: #CCEEFF; text-align: right"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 </font></td>
    <td style="vertical-align: bottom; background-color: #CCEEFF"></td>
    <td style="vertical-align: bottom; background-color: #CCEEFF; text-align: right">&nbsp;</td>
    <td style="background-color: #CCEEFF; text-align: right"><font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4121 </font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td nowrap rowspan="2"><font style="font-size: 10pt"><b>Outstanding as of December 31, 2015</b></font></td>
    <td nowrap rowspan="2" style="vertical-align: bottom">&nbsp;</td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; text-align: right; vertical-align: middle"><font style="font-size: 10pt"><b>&nbsp;&nbsp;&nbsp;&nbsp;521,250 </b></font></td>
    <td nowrap rowspan="2" style="vertical-align: bottom"></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; text-align: left; vertical-align: middle"><font style="font-size: 10pt"><b>$</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; text-align: right; vertical-align: middle"><font style="font-size: 10pt"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 </b></font></td>
    <td nowrap rowspan="2" style="vertical-align: bottom"></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; text-align: left; vertical-align: middle"><font style="font-size: 10pt"><b>$</b></font></td>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: black 2.25pt double; text-align: right; vertical-align: middle"><font style="font-size: 10pt"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4121 </b></font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated compensation cost relating
to non-vested share option and restricted share awards not yet recognized was $630 and $680, respectively, as of December 31, 2015
and is expected to be recognized over the weighted average period of 4.29 years and 0.28 years, respectively. The total fair value
of shares vested during the years ended December 31, 2013, 2014 and 2015 was $136, $5,773 and $1,301, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>14.</B></TD><TD><B>Earnings / (Loss) per share:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All shares issued (including the restricted
shares issued under the Company&#146;s equity incentive plan) are the Company&#146;s common stock and have equal rights to vote
and participate in dividends. The restricted shares issued under the Company&#146;s equity incentive plans are subject to forfeiture
provisions set forth in the applicable award agreement. The calculation of basic earnings per share does not consider the non-vested
shares as outstanding until the time-based vesting restriction has lapsed. For the years ended December 31, 2014 and 2015, during
which the Company incurred losses, the effect of 394,167 and 676,150 non-vested shares, respectively, as well as the effect of
521,250 non vested share options as of December 31, 2015, would be anti-dilutive, and &#147;Basic loss per share&#148; equals
&#147;Diluted loss per share&#148;. The weighted average diluted common shares outstanding for the year ended December 31, 2013
included the effect of 65,045 incremental shares assumed to be issued under the treasury stock method, excluding 3,404 incremental
shares due to their anti-dilutive effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company calculates basic and diluted losses per share as follows: </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 9pt Sans-Serif; color: Red"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold">Income / (Loss):</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%; color: Black; text-align: left; padding-bottom: 2.5pt">Net income / (loss)</TD><TD STYLE="width: 5%; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; border-bottom: Black 2.5pt double; color: Black; text-align: right">1,850</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; border-bottom: Black 2.5pt double; color: Black; text-align: right">(11,723</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; text-align: left">)</TD><TD STYLE="width: 5%; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; color: Black; text-align: left">$</TD><TD STYLE="width: 11%; border-bottom: Black 2.5pt double; color: Black; text-align: right">(458,177</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold">Basic earnings / (loss) per share:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-bottom: 1pt">Weighted average common shares outstanding, basic</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">14,051,344</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">58,441,193</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">195,623,363</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">Basic earnings / (loss) per share</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">0.13</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(0.20</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(2.34</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; text-align: left">Effect of dilutive securities:</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: left">Dillutive effect of non vested shares</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">65,045</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black">Weighted average common shares outstanding, diluted</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">14,116,389</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">58,441,193</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">195,623,363</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">Diluted earnings / (loss) per share</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">0.13</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(0.20</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(2.34</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 9pt Sans-Serif; color: Red"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 64 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>15.</B></TD><TD><B>Accrued liabilities</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts shown in the accompanying consolidated
balance sheets are analyzed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: white">
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2014</B></FONT></TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2015</B></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Audit fees</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">432</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">386</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal fees</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,149</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">449</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other professional fees</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">350</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">26</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;Vessel Operating and voyage expenses</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,477</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">9,555</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loan interest and financing fees</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,330</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,357</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total Accrued Liabilities</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13,738</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>14,773</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>16.</B></TD><TD STYLE="text-align: justify"><B>Income taxes:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>a)</B></TD><TD><B>Taxation on Marshall Islands Registered Companies</B>
                                         </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the laws of the countries of the
shipowning companies&#146; incorporation and/or vessels&#146; registration, the shipowning companies are not subject to tax on
international shipping income. However, they are subject to registration and tonnage taxes, which have been included under &#147;Vessel
operating expenses&#148; in the accompanying statements of operations. In addition, effective as of January 1, 2013, each foreign
flagged vessel managed in Greece by Greek or foreign ship management companies is subject to Greek tonnage tax, under the laws
of the Hellenic Republic. The technical managers of the Company&#146;s vessels, which are established in Greece under Greek Law
89/67, are responsible for the filing and payment of the respective tonnage tax on behalf the Company. These tonnage taxes for
2013, 2014 and 2015 amounted to $668, $1,260 and $3,302 respectively, and have also been included under &#147;Vessel operating
expenses&#148; in the accompanying statements of operations. Furthermore, the New Tonnage Tax System (&ldquo;TTS&rdquo;) for
Cypriot merchant shipping  applicable  from  fiscal year 2010. Under the new TTS, qualifying ship managers who opted and
are accepted to be taxed under the TTS are subject to an annual tax referred to as tonnage tax, which is calculated on the basis
of the net tonnage of the qualifying ships they manage. The technical managers of the Company&rsquo;s vessels, which are established
and operate in Cyprus, are responsible for the filing and payment of the respective tonnage tax. This tonnage tax for 2015 amounted
to $11, and has also been included under &ldquo;Vessel operating expenses&rdquo; in the accompanying statements of
operations.</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 0.5in"><B>b)</B></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><B>Taxation on US Source Income &ndash; Shipping Income&#9; </B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company believes that it and its subsidiaries
are exempt from U.S. federal income tax at 4% on U.S. source shipping income for the taxable years 2012, 2013, 2014, and 2015,
as each vessel-operating subsidiary is organized in a foreign country that grants an equivalent exemption to corporations organized
in the United States and the Company&#146;s stock is primarily and regularly traded on an established securities market in the
United States, as defined by the Internal Revenue Code (IRC) of the United States.&nbsp;&nbsp;Under IRS regulations, a Company&#146;s
stock will be considered to be regularly traded on an established securities market if (i) one or more classes of its stock representing
50% or more of its outstanding shares, by voting power of all classes of stock of the corporation entitled to vote and of the total
value of the stock of the corporation, are listed on the market and (ii) (A) such class of stock is traded on the market, other
than in minimal quantities, on at least 60 days during the taxable year or one sixth of the days in a short taxable year; and (B)
the aggregate number of shares of such class of stock traded on such market during the taxable year must be at least 10% of the
average number of shares of such class of stock outstanding during such year or as appropriately adjusted in the case of a short
taxable year. Notwithstanding the foregoing, the treasury regulations provide, in pertinent part, that a class of the Company&#146;s
stock will not be considered to be &#147;regularly traded&#148; on an established securities market for any taxable year in which
50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified
stock attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the vote and
value of such class of the Company&#146;s outstanding stock, (&#147;5% Override Rule&#148;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 0.5in"><B>c)</B></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><B>Taxation on Maltese Registered Company</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the tax
consequences discussed above, the Company may be subject to tax in one or more other jurisdictions, including Malta, where
the Company conducts activities. The amount of any such tax imposed upon the Company&rsquo;s operations for year 2015 in
Malta will be immaterial.</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>17.</B></TD><TD><B>Commitments and Contingencies:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>1)</B></TD><TD><B><U>Legal proceedings</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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&#146;s vessels. The Company&#146;s vessels are covered for pollution in the amount of $1 billion per
vessel per incident, by the Protection and Indemnity (P&amp;I) Association in which the Company&#146;s vessels are entered. The
Company&#146;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. 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. Supplemental calls, if any, are expensed when they are announced and according to the period they relate
to. The Company is not aware of any supplemental calls in respect of any policy years other than those that have already been recorded
in its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">In 2010, the Company commenced arbitration proceedings against Ishhar Overseas FZE of Dubai (&#147;Ishhar&#148;)
for repudiatory breach of the charter parties due to the nonpayment of charter hires related to <I>Star Epsilon</I> and <I>Star
Kappa</I>. The Company sought damages for repudiations of the charter parties due to early redelivery of the vessels as well as
unpaid hire of $1,949. The Company pursued an interim award for such nonpayment of charter hire and an award for the loss of charter
hire for the remaining period under the charter. Claim submissions were filed. As of December 31, 2011, the Company determined
that the above amount was not recoverable and recognized a provision for doubtful receivables of $1,949.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Subsequently, a conditional settlement
agreement was signed on September&nbsp;5, 2012, under which the Company agreed to receive a cash payment of $5,000 in seventeen
monthly installments. The first installment of $500 was received upon the execution of the settlement agreement and the next sixteen
monthly installments, varying between $250 and $500, were received on the last day of each month beginning from September 30, 2012
and ending on December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">During the year ended December
31, 2013, the Company received $2,500, under the settlement agreement, which is included under &#147;Other operational gain&#148;
in the accompanying consolidated statement of operations for the year ended December 31, 2013 (Note 10).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">In February 2011, Korea Line Corporation (&#147;KLC&#148;), charterer at the time of the vessels
<I>Star Gamma</I> and <I>Star Cosmo,</I> commenced rehabilitation proceedings in Seoul, Korea. Under the rehabilitation plan approved
by KLC&#146;s creditors on October 14, 2011, the Company was entitled to receive $6,839, of which 37% is to be paid in cash over
a period of ten years and the remaining 63% would be converted into KLC&#146;s shares at a rate of one common share of KLC with
par value of KRW 5,000 for each KRW 100,000 of claim. Based on the terms of the rehabilitation plan, the shares of KLC were restricted
from trading for six months. In addition, the Company entered into a direct agreement with KLC and received $172 in October 2011
and $172 in January 2013, as part of the due hire for <I>Star Gamma</I>. Finally, the Company entered into two tripartite agreements
with KLC and the sub-charterers of the vessels <I>Star Gamma</I> and <I>Star Cosmo</I>, under which the Company received $86 from
the <I>Star Gamma</I> sub-charter in December 2011 and $121 in March 2012 from the <I>Star Cosmo</I> sub-charterer. As of December
31, 2011, the Company determined that $498 of receivables were not recoverable due to the long term time period of KLC&#146;s
rehabilitation plan and the uncertainty surrounding the continuation of KLC&#146;s operations and recognized a corresponding provision.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>17.</B></TD><TD STYLE="text-align: justify"><B>Commitments and Contingencies &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>1)</B></TD><TD STYLE="text-align: justify"><B><U>Legal proceedings &ndash; (continued):</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">On November 19, 2012, the Company
received 11,502 shares (46,007 shares before split) of KLC as part of the rehabilitation plan described above for the vessel <I>Star
Gamma</I>, which shares were sold the same date. The cash proceeds from the sale of the respective shares were $144. In December
2012, the Company also received $12 and $1 in cash, for <I>Star Gamma</I> and <I>Star Cosmo,</I> respectively, pursuant to the
terms of the rehabilitation plan. In October 2013, the Company received $167 and $10 for <I>Star Gamma</I> and <I>Star Cosmo,</I>
respectively, pursuant to the terms of the rehabilitation plan, and the total amount of $177 is included under &#147;Other operational
gain&#148; in the consolidated statements of operations for the year ended December 31, 2013 (Note 10). These amounts have been
received as early payment of the cash component of the rehabilitation plan. The next tranche of 718 shares for the vessel <I>Star
Cosmo</I> was released from lock up on June 4, 2013 and along with the 24,196 and 983 shares issued in November 2013, pursuant
to the terms of the rehabilitation plan for <I>Star Gamma</I> and <I>Star Cosmo</I>, respectively, all of the KLC shares had been
sold by December 31, 2015 and an amount of $592 was included in &#147;Other operational gain&#148; in the accompanying statement
of operations for the year ended December 31, 2015 (Note 10).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">c.</TD><TD STYLE="text-align: justify">On July&nbsp;13, 2011, <I>Star Cosmo</I> was retained by the port authority in the Spanish port
of Almeria and was released on July&nbsp;16, 2011. According to the port authority, the vessel allegedly discharged oily water
while sailing in Spanish waters in May&nbsp;2011, more than two months before being retained, and related records were allegedly
deficient. Administrative investigation commenced locally. The Company posted a cash collateral of &euro;340,000 (approx. $371,
using the exchange rate as of December 31, 2015, eur/usd 1.09) to guarantee the payment of fines that may be assessed in the future,
and the vessel was released. The cash collateral of &euro;340,000 was released to the Company in March 2012, after being replaced
by a P&amp;I Letter of undertaking. The fines were previously reduced by the Spanish administrative authorities to &euro;260,000
(approx. $283, using the exchange rate as of December 31, 2015, eur/usd 1.09). Except for an amount of &euro;60,000 (approx. $65,
using the exchange rate as of December 31, 2015, eur/usd 1.09), which was irrevocably adjudicated in March 2015, the remaining
amount of this fine remains subject to adjudication. Up to $1 billion of the liabilities associated with the individual vessel&#146;s
actions, mainly for sea pollution, are covered by the P&amp;I Club Insurance. The Company has not accrued any amount for this case.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d.</TD><TD STYLE="text-align: justify">In March 2013, the Company commenced
                                         arbitration proceedings against Hanjin HHIC-Phil Inc., the shipyard that constructed
                                         the <I>Star Polaris</I>, relating to an engine failure the vessel experienced in Korea.
                                         This resulted in 142 off-hire days and the loss of $2,343 in revenues. The Company pursued
                                         the compensation for the cost of the repairs and the loss of revenues and following the
                                         arbitration hearing in July 2015, the arbitral tribunal issued its partial final award
                                         (the &#147;Award&#148;), which found the yard liable for certain aspects of the claim
                                         but did not quantify the Award. The Company sought permission to appeal the Award before
                                         the High Court of United Kingdom, which procedure is pending. If the permission to appeal is denied,
                                         a further hearing will take place before the same arbitral tribunal to quantify the damages
                                         for which the yard is liable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">e.</TD><TD STYLE="text-align: justify">On June 28, 2013, the Company received a letter from the receivers of STX Pan Ocean Co. Ltd., or
STX, terminating the charter agreement for the vessel <I>Star Borealis</I>. <I>Star Borealis</I> was on time charter at an average
gross daily charter rate of $24.75 for the period from September 11, 2011 until July 11, 2021. On September 11, 2014, Star Bulk
agreed the settlement of a claim for damages and due hire brought by its subsidiary, Star Borealis LLC arising from the purported
repudiation of the <I>Star Borealis</I> charter agreement by charterer STX (the &#147;Settled Claim&#148;). Star Borealis LLC
negotiated, sold and assigned the rights to the Settled Claim to an unrelated third party for $8,016, which was received on October
3, 2014. The Company recorded in 2014 a gain of approximately $9,377 including the extinguishment of a $1,361 liability related
to the amount of fuel and lubricants remaining on board of <I>Star Borealis</I> at the time of the charter repudiation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">f.</TD><TD STYLE="text-align: justify">On October 23, 2014, a purported
                                         shareholder (the &#147;Plaintiff&#148;) of the Company filed a derivative and putative
                                         class action lawsuit in New York state court against the Company&#146;s Chief Executive
                                         Officer, members of its Board of Directors and several of its shareholders and related
                                         entities. The Company has been named as a nominal defendant in the lawsuit. The lawsuit
                                         alleges that the acquisition of Oceanbulk and purchase of several Excel Vessels were
                                         the result of self-dealing by various defendants and that the Company entered into the
                                         respective transactions on unfair terms. The lawsuit further alleges that, as a result
                                         of these transactions, several defendants&#146; interests in the Company have increased
                                         and that the Plaintiff&#146;s interest in the Company has been diluted. The lawsuit also
                                         alleges that the Company&#146;s management has engaged in other conduct that has resulted
                                         in corporate waste. The lawsuit seeks cancellation of all shares issued to the defendants
                                         in connection with the acquisition of Oceanbulk, unspecified monetary damages, the replacement
                                         of some or all members of the Company&#146;s Board of Directors and its Chief Executive
                                         Officer, and other relief. The Company believes the claims are completely without
                                         merit, denies them and intends to vigorously defend against them in court. On November
                                         24, 2014, the Company and the other defendants removed the action to the United
                                         States District Court for the Southern District of New York.&nbsp;&nbsp; On March 4,
                                         2015, the Company and the other defendants moved to dismiss the complaint.&nbsp;
                                         On February 18, 2016, the court granted the Company&rsquo;s motion to dismiss
                                         in full and dismissed the matter.&nbsp; On February 24, 2016, Plaintiff filed a notice
                                         of appeal.&nbsp; The appeal is pending.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 67 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>17.</B></TD><TD STYLE="text-align: justify"><B>Commitments and Contingencies &ndash; (continued):</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>2)</B></TD><TD><B><U>Other contingencies:</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in"><B>Contingencies relating to
Heron</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Following the completion of the
Merger, Oceanbulk Shipping became a wholly owned subsidiary of the Company. As further discussed in Note 1, Oceanbulk Shipping
owned the Heron Convertible Loan, which was convertible into 50% of Heron&#146;s equity. After the conversion of the loan, on
November 5, 2014 (Note 1), Heron is 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 December 31, 2015, all vessels previously owned by Heron have 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 receiving permission from local authorities, 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 of December 31, 2014 and 2015, the Company had an outstanding payable of $1,689 and $50 to the Sellers,
respectively, which is included under &#147;Due to related parties&#148; in the accompanying balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>3)</B></TD><TD STYLE="text-align: justify"><B><U>Lease commitments:</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The following table sets forth
inflows or outflows, related to the Company&#146;s leases, as at December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red; text-indent: 1in"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; text-align: justify">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="27" STYLE="color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve month periods ending December&nbsp;31,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: Black; font-style: italic; text-align: justify">+ inflows/ - outflows</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">Total</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">2016</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">2017</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">2018</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">2019</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">2020</TD><TD STYLE="color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="color: Black; font-weight: bold; text-align: right">2021 and thereafter</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 37%; color: Black; text-align: justify">Future, minimum, non-cancellable charter revenue (1)</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">34,784</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">33,695</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">1,089</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: Black; text-align: left">$</TD><TD STYLE="width: 5%; color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: justify">Future, minimum, non-cancellable lease payment under vessel operating leases (2)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(5,949</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(3,605</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(2,344</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: justify">Office rent</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(1,687</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(256</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(256</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(255</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(252</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(247</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(421</TD><TD STYLE="color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; text-align: justify">Bareboat capital leases - upfront hire &amp; handling fees (3)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(7,477</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(6,469</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(672</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">(336</TD><TD STYLE="color: Black; text-align: left">)</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black">&nbsp;</TD>
    <TD STYLE="color: Black; text-align: left">&nbsp;</TD><TD STYLE="color: Black; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: Black; text-align: justify; padding-bottom: 1pt">Bareboat commitments charter hire (4)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(282,474</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(7,126</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(16,951</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(21,388</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(21,291</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(21,774</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD><TD STYLE="color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: Black; text-align: right">(193,944</TD><TD STYLE="padding-bottom: 1pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: Black; font-weight: bold; text-align: justify; padding-bottom: 2.5pt"><FONT STYLE="color: Black">Total<FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></FONT></TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(262,803</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">16,239</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(19,134</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(21,979</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(21,543</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="color: Black; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: Black; font-weight: bold; text-align: right">(22,021</TD><TD STYLE="padding-bottom: 2.5pt; color: Black; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(194,365</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red; text-indent: 1in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red; text-indent: 1in"></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">The amounts represent the minimum contractual charter revenues to be generated from
the existing, as of December 31, 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>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">The amounts represent the Company&#146;s commitments under the operating lease arrangement for
Maiden Voyage disclosed in Note 5.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">The amounts represent the Company&#146;s commitments under the bareboat lease arrangements representing
the upfront hire fee and handling fees for those vessels being, as of December 31, 2015, under construction.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">The amounts represent the Company&#146;s commitments under the bareboat lease arrangements representing
the charter hire for those vessels being, as of December 31, 2015, under construction discussed in Note 6, as well as those commitments
under bareboat lease agreements discussed in Note 5. The bareboat charter hire is comprised of fixed and variable portion, the
variable portion is calculated based on the 6-month LIBOR of 0.846%, as of December 31, 2015 (please refer to Note 6).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>18.</B></TD><TD STYLE="text-align: justify"><B>Voyage and Vessel operating expenses:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts in the accompanying consolidated
statements of operations are analyzed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Voyage&nbsp;&nbsp;expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%; text-align: left; padding-left: 5.4pt">Port charges</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">1,455</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">5,132</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">17,619</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">Bunkers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,338</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,535</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Commissions &ndash; third parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">867</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,902</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,915</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Commissions &ndash; related parties (Note 3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">773</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,350</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 5.4pt">Miscellaneous</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">116</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">164</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">458</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total voyage expenses</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,549</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">42,341</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">72,877</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Vessel operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Crew wages and related costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,355</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">29,449</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">65,402</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">Insurances</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,561</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,026</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Maintenance, repairs, spares and stores</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,772</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,415</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,577</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 5.4pt">Lubricants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,339</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,901</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,187</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Tonnage taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">797</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,360</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,717</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Upgrading expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">205</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,167</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,205</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 5.4pt">Miscellaneous</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">651</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,682</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total vessel operating expenses</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">27,087</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">53,096</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">112,796</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>19.</B>&nbsp;&#9;<B>Fair value
measurements:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The guidance for fair value measurements
applies to all assets and liabilities that are being measured and reported on a fair value basis. 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. The same guidance requires that assets and liabilities
carried at fair value should be classified and disclosed in one of the following three categories based on the inputs used to determine
its fair value:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">Level 1:&#9;Quoted
market prices in active markets for identical assets or liabilities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">Level 2:&#9;Observable
market based inputs or unobservable inputs that are corroborated by market data;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">Level 3:&#9;Unobservable
inputs that are not corroborated by market data.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, ASC 815, &#147;<I>Derivatives
and Hedging</I>&#148; requires companies to recognize all derivative instruments as either assets or liabilities at fair value
in the statement of financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>19.</B></TD><TD><B>Fair value measurements &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Fair value on a recurring basis:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Interest rate swaps:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company enters into interest rate derivative
contracts to manage interest costs and risk associated with changing interest rates with respect to its variable interest loans
and credit facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 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 (Note 8c).
The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the <I>Star Borealis
</I>and <I>Star Polaris </I>tranches, respectively, of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were effective
by November and August 2014, respectively, and mature in August and November 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 December
31, 2015, the notional amount of these swaps was $24,898 and $26,130, for the vessel <I>Star Borealis</I> and the vessel <I>Star
Polaris</I>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, on April 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 (Note 8f). The HSH Swaps came into effect in September 2014 and mature in September 2018.
Under the terms of the HSH Swaps, the Company is paying 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 December 31, 2015, the notional amount of these swaps was $15,385.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Up to August 31, 2014, because the Credit
Agricole Swaps and the HSH Swaps were not designated as accounting hedges, changes in their fair value at each reporting period
up to that date, were reported in earnings as a loss under &#147;Gain/ (Loss) on derivative financial instruments, net&#148;.
On August 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;. Since that date, the effective portion of these cash flow hedges is reported
in &#147;Accumulated other comprehensive income / (loss)&#148; while the ineffective portion of these cash flow hedges is reported
under &#147;Gain / (Loss) on derivative financial instruments, net&#148;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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;). 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% to 2.07% per annum, based on an aggregate
notional amount beginning at $186,307 on July 1, 2015, and increasing up to $461,264 on October 1, 2015. 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 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), was reported
in &#147;Accumulated other comprehensive income / (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 December 31, 2015 the notional amount of these swaps was $451,426.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>19.</B></TD><TD><B>Fair value measurements &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Fair value on a recurring basis &ndash; (continued):</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Interest rate swaps:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to (i) changes in the timing of delivery
of some of the Company&#146;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&#146;s vessels in 2015 whose loans had been designated as hedged items,
the Company determined that 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. Consequently, the hedging relationship related to the Goldman Sachs
Swaps no longer qualified 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 income / (loss)&#148; with respect to the corresponding
swaps will be reclassified to earnings when the hedged forecasted transaction impacts the Company&#146;s earnings (i.e., when
the hedged loan interest is incurred), except for $1,793 related to loans of sold or expected to be sold vessels that were reclassified
to earnings in the year ended December 31, 2015, since the forecasted transaction attributable to these vessels was
no longer expected to occur. The unamortized balance of &#147;Accumulated other comprehensive income / (loss)&#148; with respect
to the corresponding swaps as of December 31, 2015 was $1,261.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount recognized in Other Comprehensive
Income / (Loss) is derived from the effective portion of unrealized losses from cash flow hedges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts of Gain/ (Loss) on derivative
financial instruments recognized in the accompanying consolidated statements of operations are analyzed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify">Consolidated Statement of Operations</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Gain/(loss) on derivative instruments, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 46%; text-align: left; padding-left: 5.4pt">Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&nbsp;31, 2014)</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">91</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">(799</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,443</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,918</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,793</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Ineffective portion of cash flow hedges</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Gains/(Losses) on derivative instruments, net</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">91</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(799</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(3,268</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">Interest and finance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,055</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,416</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Gains/(Losses) recognized</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">91</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(1,854</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(5,684</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STAR BULK CARRIERS CORP.&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Consolidated Financial Statements </B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>December 31, 2015</B>&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Expressed in thousands of U.S. dollars &ndash; except share, per share data and scrap rates, unless otherwise stated)</P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>19.</B></TD><TD><B>Fair value measurements &ndash; (continued):</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An amount of approximately ($578) is expected
to be reclassified into earnings during the following 12-month period when realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In relation to the above interest rate
swap agreements designated as cash flow hedges 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the valuation
of the Company&#146;s financial instruments as of December 31, 2014 and 2015, based on Level 2 observable inputs of the fair value
hierarchy such as interest rate curves.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Significant Other Observable Inputs (Level 2)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right">(not designated as cash flow hedges)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right">(designated as cash flow hedges)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right">(not designated as cash flow hedges)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: right">(designated as cash flow hedges)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Interest rate swaps - asset position</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 5.4pt">LIABILITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Interest rate swaps - liability position (current and non-current)</TD><TD STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">7,732</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">7,642</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">807</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,732</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,642</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">807</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying values of temporary cash investments,
restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial
instruments. The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values
as of December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 8.00% 2019 Notes have a fixed rate,
and their estimated fair value as of December 31, 2015, determined through Level 1 inputs of the fair value hierarchy (quoted price
on NASDAQ under the ticker symbol SBLKL), is approximately $24,000 .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>19.</B></TD><TD><B>Fair value measurements &ndash; (continued):</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Fair value on a nonrecurring basis</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the decline in charter rates
and vessel values during the previous years and because market expectations for future rates were low and vessel values were unlikely
to increase to the high levels of 2008, the Company reviewed, in 2013, 2014 and 2015 the recoverability of the carrying amount
of its vessels. The impairment analysis for the year ended December 31, 2013 and 2014, indicated that the carrying amount of the
Company&#146;s vessels was recoverable, and therefore, the Company concluded that no impairment charge was necessary. As further
discussed in Note 5, the Company recognized an impairment loss of $321,978 for the year ended December 31, 2015, of which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">$17,815 relates to sold operating vessels that had been delivered to their purchasers as of December
31, 2015 or bareboat vessels that were reassigned to their owners during the year. The carrying value of these vessels was written
down to the fair value as determined by reference to their agreed sale (or reassignment) prices less costs of sale.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">$201,585 relates to sold operating vessels and newbuildings in 2015 or in early 2016 that had not
been delivered to their purchasers as of December 31, 2015. The carrying value of these vessels was written down to the fair value
as determined by reference to their agreed sale prices less costs of sale.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">$102,578 relates to certain other operating vessels and newbuildings. Pursuant to its impairment
analysis for the year ended December 31, 2015, the Company estimated that these operating vessels and newbuildings would have future
undiscounted projected operating cash flows to be earned over their operating life less than their carrying value. In estimating
the projected cash flows for these vessels, the Company took into consideration the possibility of their sale, to the extent that
attractive sale prices are attainable. The carrying value of these vessels was written down to the fair value as determined by
reference to the vessel valuations of independent shipbrokers (as of mid to late December 2015).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the valuation
of these assets described under (ii) and (iii) above, measured at fair value on a non-recurring basis as of December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Fair Value Measurements Using</B></FONT></P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Long-lived assets held and used</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Quoted Prices<BR> in Active<BR> Markets for<BR> Identical<BR> Assets<BR> (Level 1)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Significant<BR> Other<BR> Observable<BR> Inputs<BR> (Level 2)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Significant<BR> Unobservable<BR> Inputs<BR> (Level 3)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><BR> Impairment <BR> loss</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font-style: italic; text-align: left; text-indent: -8.65pt; padding-left: 17.3pt">Vessels, net</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">259,775</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">145,631</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left; padding-bottom: 1pt; text-indent: -8.65pt; padding-left: 17.3pt">Advances for vessels under construction</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,152</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">158,532</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -8.65pt; padding-left: 17.3pt">TOTAL&#9;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">295,927</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">304,163</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, please refer to Note 1 for
the fair value of assets acquired and liabilities assumed by the Company at the Merger and the Pappas Transaction on July&nbsp;11,
2014, which was the acquisition date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>20.</B></TD><TD STYLE="text-align: justify"><B>Subsequent Events:</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">a)</TD><TD STYLE="text-align: justify"><B>Sale of Vessels:</B> In 2015,
                                         as further discussed in Note 5, the Company entered into various separate agreements
                                         with third parties to sell certain of the Company&#146;s operating vessels (<I>Indomitable</I>,
                                         <I>Magnum Opus</I>, <I>Tsu Ebisu</I> and <I>Deep Blue</I>). In addition, in 2015, as
                                         further discussed in Note 6, the Company entered into various separate agreements with
                                         third parties to sell upon their delivery from the shipyards the newbuilding vessels
                                         <I>Behemoth</I>, <I>Bruno Marks</I>, <I>Jenmark</I>, <I>Star Aries</I> and <I>Star Taurus</I>.
                                         In early 2016, the Company entered into various separate agreements with third parties
                                         to sell the operating vessel <I>Obelix</I> and the newbuilding vessel <I>Megalodon</I>
                                         (ex-HN 5056) upon its delivery from the shipyard. The net book value of these operating
                                         and newbuilding vessels as of December 31, 2015, was $176,336. The delivery dates
                                         of these vessels are discussed below:
</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: -1.5pc; background-color: white"><B>Operating
Vessels:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: -1.5pc; background-color: white">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">i.</TD><TD STYLE="text-align: justify">On February 3, 2016, the vessel
                                         <I>Tsu Ebisu</I> was delivered to its new owners.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">ii.</TD><TD STYLE="text-align: justify">On March 2, 2016, the vessel
                                         <I>Magnum Opus</I> was delivered to its new owners.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; background-color: white">In
connection with the sale of <I>Tsu Ebisu</I> and <I>Magnum Opus</I>, the Company repaid $17,550 and
$18,000, respectively, under their corresponding facilities as discussed in Note 8.</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">iii.</TD><TD STYLE="text-align: justify">On March 18, 2016,
the vessel Deep Blue was delivered to its new owners, and the DVB $31,000 Facility was fully repaid.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: -1.5pc; background-color: white"><B>Newbuildings:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: -1.5pc; background-color: white">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">i.</TD><TD STYLE="text-align: justify">On January 7, 2016, the
                                         Company took delivery of and delivered to its new owners <I>Behemoth</I> (ex-HN 5055), a
                                         182,000 dwt Capesize bulk carrier built by JMU.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 54pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">ii.</TD><TD STYLE="text-align: justify">On January 11, 2016,
                                         the Company took delivery of <I>Bruno Marks</I> (ex-HN 1312), a 182,000 dwt Capesize
                                         bulk carrier built by SWS. On January 15, 2016, <I>Bruno Marks</I> was delivered to its
                                         new owners.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">iii.</TD><TD STYLE="text-align: justify">On January 26, 2016,
                                         the Company took delivery of and delivered to its new owners <I>Megalodon</I> (ex-HN 5056),
                                         a 182,000 dwt Capesize bulk carrier built by JMU.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: -1.5pc; background-color: white">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">iv.</TD><TD STYLE="text-align: justify">On February 29, 2016,
                                         the Company took delivery of and delivered to its new owners <I>Star Aries</I> (ex-HN 1338),
                                         a 180,000 dwt Capesize bulk carrier built by SWS.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 18pt; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">b)</TD><TD STYLE="text-align: justify"><B>Delivery of newbuilding vessels:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">i.</TD><TD STYLE="text-align: justify">On January 6, 2016, the Company
                                         took delivery of <I>Star Lutas</I> (ex-HN NE 197), a 61,000 dwt Ultramax bulk carrier
                                         built by Nantong COSCO KHI-Ship Engineering Co. (&ldquo;NACKS&rdquo;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">ii.</TD><TD STYLE="text-align: justify">On January 8, 2016, the Company
                                         took delivery of <I>Kennadi</I> (ex-HN 1080), a 64,000 dwt Ultramax bulk carrier built by
                                         New&nbsp;Yangzijiang.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">iii.</TD><TD STYLE="text-align: justify">On February 26, 2016, the Company
                                         took delivery of <I>Star Poseidon</I> (ex-HN NE 198), a 209,000 dwt Newcastlemax bulk carrier
                                         built by NACKS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">iv.</TD><TD STYLE="text-align: justify">On March 2, 2016, the Company
                                         took delivery of <I>Mackenzie</I> (ex-HN 1081), a 64,000 dwt Ultramax bulk carrier built
                                         by New&nbsp;Yangzijiang.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">v.</TD><TD STYLE="text-align: justify">On March 11, 2016  the Company took delivery                                          of <I>Star
                                                                     Marisa</I> (ex-HN 1359), a 208,000 dwt Newcastlemax bulk carrier built by
                                                                     SWS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">c)</TD><TD STYLE="text-align: justify"><B>Pool Agreement:</B> In January 2016, the Company entered into a Capesize vessel pooling agreement
(&#147;CCL&#148;)&nbsp;with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD. The Company agreed
to market nine of its Capesize dry bulk vessels, which had previously been operating in the spot market, as part of one combined
CCL fleet. Together with the Company&#146;s nine vessels, the CCL fleet will initially consist&nbsp;of 65 modern Capesize vessels
and will be managed out of Singapore and Antwerp. Each vessel owner will continue to be responsible for the operating, accounting
and technical management of its respective vessels. The Company expects to achieve improved scheduling ability through the joint
marketing opportunity that CCL represents for its Capesize vessels, with the overall aim of enhancing economic efficiencies.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">d)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0"><B>Shipbuilding
                                         contract terminations:</B> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
                                         February 2016, the Company agreed in principle with certain shipyards to terminate two
                                         shipbuilding contacts. The Company will have no future capital expenditure obligations
                                         on these vessels once definitive documentation is executed.</FONT></P>

<P STYLE="margin: 0pt 0"></P>


</TD></TR></TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">e)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Commerzbank
                                         $120,000 Facility - Refinancing Amendment:</B> In early 2016, the Company agreed
                                         in principle with Commerzbank to a refinancing amendment of the Commerzbank $120,000
                                         Facility. Pursuant to this refinancing amendment, the Company agreed to (a) amend certain
                                         covenants governing this facility, (b) change the amortization schedule for this facility,
                                         and (c) extend the repayment date for the facility from October 2016 to October 2018.
                                         The Company expect that the documentation for this refinancing amendment will be finalized
                                         and executed in April 2016.</FONT></P></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">f)</TD>
    <TD><B>Resignation of Director:</B> On March 14, 2016, Ms. Ren&eacute;e Kemp stepped down from the Company&rsquo;s
    Board of Directors.</TD></TR>
</TABLE>

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<TYPE>EX-4.13
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<FILENAME>s001237x1_ex4-13.htm
<DESCRIPTION>EXHIBIT 4.13
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.13</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STAR BULK CARRIERS CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2015 EQUITY INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE I.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.1. Purpose</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.25pc">The Star Bulk Carriers
Corp. 2015 Equity Incentive Plan (the &#147;Plan&#148;) is designed to provide certain key persons, whose initiative and efforts
are deemed to be important to the successful conduct of the business of Star Bulk Carriers Corp. (the &#147;Company&#148;), with
incentives to (a) enter into and remain in the service of the Company or its Affiliates and Subsidiaries (as defined below), (b)
acquire a proprietary interest in the success of the Company, (c) maximize their performance and (d) enhance the long-term performance
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.25pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.2. Administration</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Administration</U>.
The Plan shall be administered by the Compensation Committee (the &#147;Compensation Committee&#148;) of the Company&#146;s Board of
Directors (the &#147;Board&#148;) or such other committee of the Board as may be designated by the Board to administer the Plan
(the Compensation Committee or such committee, as applicable, the &#147;Administrator&#148;); in the event the Company is subject
to Section 16 of the U.S. Securities Exchange Act of 1934, as amended (the &#147;1934 Act&#148;), the Administrator shall be composed
of two or more directors, each of whom is a &#147;Non-Employee Director&#148; (a &#147;Non-Employee Director&#148;) under Rule
16b-3 (as promulgated and interpreted by the Securities and Exchange Commission (the &#147;SEC&#148;) under the 1934 Act, or any
successor rule or regulation thereto as in effect from time to time, Subject to the terms of the Plan and applicable law, and in
addition to other express powers and authorizations conferred on the Administrator by the Plan, the Administrator shall have the
full power and authority to: (1) designate the Persons to receive Awards (as defined below) under the Plan; (2) determine the types
of Awards granted to a participant under the Plan; (3) determine the number of shares to be covered by, or with respect to which
payments, rights or other matters are to be calculated with respect to, Awards; (4) determine the terms and conditions of any Awards;
(5) determine whether, and to what extent, and under what circumstances, Awards may be settled or exercised in cash, shares, other
securities, other Awards or other property, or cancelled, forfeited or suspended, and the methods by which Awards may be settled,
exercised, cancelled, forfeited or suspended; (6) determine whether, to what extent, and under what circumstances cash, shares,
other securities, other Awards, other property and other amounts payable with respect to an Award shall be deferred, either automatically
or at the election of the holder thereof or the Administrator; (7) construe, interpret and implement the Plan and any Award Agreement
(as defined below); (8) prescribe, amend, rescind or waive rules and regulations relating to the Plan, including rules governing
its operation, and appoint such agents as it shall deem appropriate for the proper administration of the Plan; (9) make all determinations
necessary or advisable in administering the Plan; (10) correct any defect, supply any omission and reconcile any inconsistency
in the Plan or any Award Agreement; and (11) make any other determination and take any other action that the Administrator deems
necessary or desirable for the administration of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Administrator,
may be made at any time and shall be final, conclusive and binding upon all Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>General Right
of Delegation</U>. Except to the extent prohibited by applicable law, the applicable rules of a stock exchange or any charter,
by-laws or other agreement governing the Administrator, the Administrator may delegate all or any part of its responsibilities
to any Person or Persons selected by it and may revoke any such allocation or delegation at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Indemnification</U>.
No member of the Board, the Administrator or any employee of the Company or any of its Affiliates (each such Person, a &#147;Covered
Person&#148;) shall be liable for any action taken or omitted to be taken or any determination made in good faith with respect
to the Plan or any Award hereunder. Each Covered Person shall be indemnified and held harmless by the Company against and from
(i) any loss, cost, liability or expense (including attorneys&#146; fees) that may be imposed upon or incurred by such Covered Person
in connection with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such
Covered Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and (ii)
any and all amounts paid by such Covered Person, with the Company&#146;s approval, in settlement thereof, or paid by such Covered Person
in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person; <U>provided</U> that the Company
shall have the right, at its own expense, to assume and defend any such action, suit or proceeding and, once the Company gives
notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company&#146;s
choice. The foregoing right of indemnification shall not be available to a Covered Person to the extent that a court of competent
jurisdiction in a final judgment or other final adjudication, in either case not subject to further appeal, determines that the
acts or omissions of such Covered Person giving rise to the indemnification claim resulted from such Covered Person&#146;s bad faith,
fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by law or by the Company&#146;s
Articles of Incorporation or Bylaws. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification
to which Covered Persons may be entitled under the Company&#146;s Articles of Incorporation or Bylaws, as a matter of law, or otherwise,
or any other power that the Company may have to indemnify such Persons or hold them harmless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(d) <U>Delegation of Authority to Senior Officers</U>.
The Administrator may, in accordance with the terms of Section 1.2(b), delegate, on such terms and conditions as it determines,
to one or more senior officers of the Company the authority to make grants of Awards to employees (other than officers) of the
Company and its Subsidiaries (including any such prospective employee) and consultants of the Company and its Subsidiaries; <U>provided</U>,
<U>however</U>, that in no event shall any such officer be delegated the authority to grant Awards to, or amend Awards held by,
the following individuals: (i) individuals who are subject to Section 16 of the 1934 Act, or (ii) officers of the Company (or directors
of the Company) to whom authority to grant or amend Awards has been delegated hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(e) <U>Awards to Non-Employee
Directors</U>. Notwithstanding anything to the contrary contained herein, the Board may, in its sole discretion, at any time and
from time to time, grant Awards to Non-Employee Directors or administer the Plan with respect to such Awards. In any such case,
the Board shall have all the authority and responsibility granted to the Administrator herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.3. Persons Eligible for Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">The Persons eligible
to receive Awards under the Plan are those directors, officers and employees (including any prospective officer or employee) of
the Company and its Subsidiaries and Affiliates and consultants and service providers (including individuals who are employed by
or provide services to any entity that is itself such a consultant or service provider) to the Company and its Subsidiaries an
Affiliates (collectively, &#147;Key Persons&#148;) as the Administrator shall select.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.4. Types of Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Awards may be made under
the Plan in the form of (a) stock options, (b) stock appreciation rights, (c) restricted stock, (d) restricted stock units and
(e) unrestricted stock, all as more fully set forth in the Plan. The term &#147;Award&#148; means any of the foregoing that are
granted under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.5. Shares Available for Awards; Adjustments for Changes
in Capitalization</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Maximum Number</U>.
Subject to adjustment as provided in Section 1.5(c), the aggregate number of shares of common stock of the Company, par value $0.01
(&#147;Common Stock&#148;), with respect to which Awards may at any time be granted under the Plan shall be 1,400,000 The following
shares of Common Stock shall again become available for Awards under the Plan: (i) any shares that are subject to an Award under
the Plan and that remain unissued upon the cancellation or termination of such Award for any reason whatsoever; (ii) any shares
of restricted stock forfeited pursuant to the Plan or the applicable Award Agreement; <U>provided</U> that any dividend equivalent
rights with respect to such shares that have not theretofore been directly remitted to the grantee are also forfeited; and (iii)
any shares in respect of which an Award is settled for cash without the delivery of shares to the grantee. Any shares tendered
or withheld to satisfy the grant or exercise price or tax withholding obligation pursuant to any Award shall again become available
to be delivered pursuant to Awards under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Source of Shares</U>.
Shares issued pursuant to the Plan may be authorized but unissued Common Stock or treasury shares. The Administrator may direct
that any stock certificate evidencing shares issued pursuant to the Plan shall bear a legend setting forth such restrictions on
transferability as may apply to such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Adjustments</U>.
(i) In the event any dividend or other distribution (whether in the form of cash, Company shares, other securities or other property),
stock split, reverse stock split, reorganization, merger, consolidation, split-up, combination, repurchase or exchange of Company
shares or other securities of the Company, issuance of warrants or other rights to purchase Company shares or other securities
of the Company, or other similar corporate transaction or event, other than an Equity Restructuring, affects the Company shares
such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the Plan or with respect to an Award, then the Administrator
shall, in such manner as it may deem equitable, adjust any or all of the number of shares or other securities of the Company (or
number and kind of other securities or property) with respect to which Awards may be granted under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 6pc">(ii) The Administrator is authorized to make
adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events
(including the events described in Section 1.5(c)(i) or the occurrence of a Change in Control (as defined below), other than an
Equity Restructuring) affecting the Company, any of its Affiliates, or the financial statements of the Company or any of its Affiliates,
or of changes in applicable rules, rulings, regulations or other requirements of any governmental body or securities exchange,
accounting principles or law, whenever the Administrator determines that such adjustments are appropriate in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to an Award,
including providing for (A) adjustment to (1) the number of shares or other securities of the Company (or number and kind of other
securities or property) subject to outstanding Awards or to which outstanding Awards relate and (2) the Exercise Price (as defined
below) with respect to any Award and (B) a substitution or assumption of Awards, accelerating the exercisability or vesting of,
or lapse of restrictions on, Awards, or accelerating the termination of Awards by providing for a period of time for exercise prior
to the occurrence of such event, or, if deemed appropriate or desirable, providing for a cash payment to the holder of an outstanding
Award in consideration for the cancellation of such Award (it being understood that, in such event, any option or stock appreciation
right having a per share Exercise Price equal to, or in excess of, the Fair Market Value (as defined below) of a share subject
to such option or stock appreciation right may be cancelled and terminated without any payment or consideration therefor; <U>provided</U><I>,
</I><U>however</U>, that with respect to options and stock appreciation rights, unless otherwise determined by the Administrator,
such adjustment shall be made in accordance with the provisions of Section 424(h) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 6pc">(iii) In the event of (A) a dissolution or
liquidation of the Company, (B) a sale of all or substantially all the Company&#146;s assets or (C) a merger, reorganization or consolidation
involving the Company or one of its Subsidiaries (as defined below), the Administrator shall have the power to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">(1) provide that outstanding options, stock
appreciation rights and/or restricted stock units (including any related dividend equivalent right) shall either continue in effect,
be assumed or an equivalent award shall be substituted therefor by the successor corporation or a parent corporation or subsidiary
corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">(2) cancel, effective immediately prior
to the occurrence of such event, options, stock appreciation rights and/or restricted stock units (including each dividend equivalent
right related thereto) outstanding immediately prior to such event (whether or not then exercisable) and, in full consideration
of such cancellation, pay to the holder of such Award a cash payment in an amount equal to the excess, if any, of the Fair Market
Value (as of a date specified by the Administrator) of the shares subject to such Award over the aggregate Exercise Price of such
Award (it being understood that, in such event, any option or stock appreciation right having a per share Exercise Price equal
to, or in excess of, the Fair Market Value of a share subject to such option or stock appreciation right may be cancelled and terminated
without any payment or consideration therefor; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">(3) notify the holder of an option or stock
appreciation right in writing or electronically that each option and stock appreciation right shall be fully vested and exercisable
for a period of 30 days from the date of such notice, or such shorter period as the Administrator may determine to be reasonable,
and the option or stock appreciation right shall terminate upon the expiration of such period (which period shall expire no later
than immediately prior to the consummation of the corporate transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4.5pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(iv) In connection with
the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in this Section 1.5(c):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc">(A) The number
and type of securities or other property subject to each outstanding Award and the Exercise Price or grant price thereof, if applicable,
shall be equitably adjusted; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc">(B) The Administrator
shall make such equitable adjustments, if any, as the Administrator may deem appropriate to reflect such Equity Restructuring with
respect to the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments
of the limitations set forth in Sections 1.5(a)). The adjustments provided under this Section 1.5(c)(iv) shall be nondiscretionary
and shall be final and binding on the affected participant and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1.6. Definitions of Certain Terms</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) The &#147;Fair Market
Value&#148; of a share of Common Stock on any day shall be the closing price on the stock exchange upon which such shares are listed,
as reported for such day in The Wall Street Journal, or, if no such price is reported for such day, the average of the high bid
and low asked price of Common Stock as reported for such day. If no quotation is made for the applicable day, the Fair Market Value
of a share of Common Stock on such day shall be determined in the manner set forth in the preceding sentence for the next preceding
trading day. Notwithstanding the foregoing, if there is no reported closing price or high bid/low asked price that satisfies the
preceding sentences, or if otherwise deemed necessary or appropriate by the Administrator, the Fair Market Value of a share of
Common Stock on any day shall be determined by such methods and procedures as shall be established from time to time by the Administrator.
The &#147;Fair Market Value&#148; of any property other than Common Stock shall be the fair market value of such property determined
by such methods and procedures as shall be established from time to time by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) Unless otherwise
set forth in an Award Agreement, in connection with a termination of employment or consultancy/service relationship or a dismissal
from Board membership, for purposes of the Plan, the term &#147;for Cause&#148; shall be defined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(i) if there is an employment,
severance, consulting, service, change in control or other agreement governing the relationship between the grantee, on the one
hand, and the Company or any of its Affiliates, on the other hand, that contains a definition of &#147;cause&#148; (or similar
phrase), for purposes of the Plan, the term &#147;for Cause&#148; shall mean those acts or omissions that would constitute &#147;cause&#148;
under such agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(ii) if the preceding
clause (i) is not applicable to the grantee, for purposes of the Plan, the term &#147;for Cause&#148; shall mean any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(A) any failure
by the grantee substantially to perform the grantee&#146;s employment or consultancy/service or Board membership duties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(B) any excessive
unauthorized absenteeism by the grantee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(C) any refusal
by the grantee to obey the lawful orders of the Board or any other Person to whom the grantee reports;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(D) any act
or omission by the grantee that is or may be injurious to the Company or any of its Affiliates, whether monetarily, reputationally
or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(E) any act
by the grantee that is inconsistent with the best interests of the Company or any of its Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(F) the grantee&#146;s
gross negligence that is injurious to the Company or any of its Affiliates, whether monetarily, reputationally or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(G) the grantee&#146;s material
violation of any of the policies of the Company or any of its Affiliates, as applicable, including, without limitation, those policies
relating to discrimination or sexual harassment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(H) the grantee&#146;s
material breach of his or her employment or service contract with the Company or any of its Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(I) the grantee&#146;s unauthorized
(1) removal from the premises of the Company or any of its Affiliates of any document (in any medium or form) relating to the Company
or any of its Affiliates or the customers or clients of the Company or any of its Affiliates or (2) disclosure to any Person or
entity of any of the Company&#146;s, or any of its Affiliates&#146;, confidential or proprietary information;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(J) the grantee&#146;s
being convicted of, or entering a plea of guilty or nolo contendere to, any crime that constitutes a felony or involves moral turpitude;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 4.5pc">(K) the grantee&#146;s
commission of any act involving dishonesty or fraud.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pc; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any rights the Company or any of its Affiliates may have under
the Plan in respect of the events giving rise to a termination or dismissal &#147;for Cause&#148; shall be in addition to any other
rights the Company or any of its Affiliates may have under any other agreement with a grantee or at law or in equity. Any determination
of whether a grantee&#146;s employment, consultancy/service relationship or Board membership is (or is deemed to have been) terminated
&#147;for Cause&#148; shall be made by the Administrator. If, subsequent to a grantee&#146;s voluntary termination of employment or
consultancy/service relationship or voluntarily resignation from the Board or involuntary termination of employment or consultancy/service
relationship without Cause or removal from the Board other than &#147;for Cause&#148;, it is discovered that the grantee&#146;s employment
or consultancy/service relationship or Board membership could have been terminated &#147;for Cause&#148;, the Administrator may
deem such grantee&#146;s employment or consultancy/service relationship or Board membership to have been terminated &#147;for Cause&#148;
upon such discovery and determination by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(c) &#147;Affiliate&#148; shall mean (i) any
entity that, directly or indirectly, is controlled by, controls or is under common control with, the Company and (ii) any entity
in which the Company has a significant equity interest, in either case as determined by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(d) &#147;Subsidiary&#148; shall mean any
entity in which the Company, directly or indirectly, has a 50% or more equity interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(e) &#147;Exercise Price&#148; shall mean
(i) in the case of options, the price specified in the applicable Award Agreement as the price-per-share at which such share can
be purchased pursuant to the option or (ii) in the case of stock appreciation rights, the price specified in the applicable Award
Agreement as the reference price-per-share used to calculate the amount payable to the grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(f) &#147;Equity Restructuring&#148; shall
mean a non-reciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off, rights
offering or recapitalization through a large, nonrecurring cash dividend, that affects the shares of Common Stock (or other securities
of the Company) or the share price thereof and causes a change in the per share value of the shares underlying outstanding Awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(g) &#147;Person&#148; shall mean any individual,
firm, corporation, partnership, limited liability company, trust, incorporated or unincorporated association, joint venture, joint
stock company, governmental body or other entity of any kind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(h) &#147;Repricing&#148; shall mean (i) lowering
the Exercise Price of an option or a stock appreciation right after it has been granted, (ii) cancellation of an option or a stock
appreciation right in exchange for cash or another Award when the Exercise Price exceeds the Fair Market Value of the underlying
shares subject to the Award and (iii) any other action with respect to an option or a stock appreciation right that is treated
as a repricing under (A) generally accepted accounting principles or (B) any applicable stock exchange rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE II.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Awards Under The Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.1. Agreements Evidencing Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Each Award granted under
the Plan shall be evidenced by a written certificate (&#147;Award Agreement&#148;), which shall contain such provisions as the
Administrator may deem necessary or desirable and which may, but need not, require execution or acknowledgment by a grantee. The
Award shall be subject to all of the terms and provisions of the Plan and the applicable Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.2. Grant of Stock Options and Stock
Appreciation Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Stock Option Grants</U>.
The Administrator may grant stock options (&#147;options&#148;) to purchase shares of Common Stock from the Company to such Key
Persons, and in such amounts and subject to such vesting and forfeiture provisions and other terms and conditions, as the Administrator
shall determine, subject to the provisions of the Plan. No option will be treated as an &#147;incentive stock option&#148; for
purposes of the Code. The Administrator shall not grant an Award in the form of stock options to an individual who is then subject
to the requirements of Section 409A of the Code with respect to such Award if the Common Stock (as defined below) underlying such
Award does not then qualify as &#147;service recipient stock&#148; for purposes of Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Option Exercise
Price</U>. Each Award Agreement with respect to an option shall set forth the Exercise Price of such Award and, unless otherwise
specifically provided in the Award Agreement, the Exercise Price of an option shall equal the Fair Market Value of a share of Common
Stock on the date of grant; <U>provided</U> that in no event may such Exercise Price be less than the greater of (i) the Fair Market
Value of a share of Common Stock on the date of grant and (ii) the par value of a share of Common Stock. Repricing of options granted
under the Plan shall not be permitted (1) to the extent such action could cause adverse tax consequences to the grantee under Sections
409A or 457A of the Code or (2) without prior shareholder approval, to the extent such approval would be required to be obtained
by the Company pursuant to the rules of any applicable stock exchange on which the Common Stock is then listed, and any action
that would be deemed to result in a Repricing of an option shall be deemed null and void if it would cause such adverse tax consequences
or if any requisite shareholder approval related thereto is not obtained prior to the effective time of such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Stock Appreciation
Right Grants; Types of Stock Appreciation Rights</U>. The Administrator may grant stock appreciation rights to such Key Persons,
and in such amounts and subject to such vesting and forfeiture provisions and other terms and conditions, as the Administrator
shall determine, subject to the provisions of the Plan. The terms of a stock appreciation right may provide that it shall be automatically
exercised for a payment upon the happening of a specified event that is outside the control of the grantee and that it shall not
be otherwise exercisable. Stock appreciation rights may be granted in connection with all or any part of, or independently of,
any option granted under the Plan. The Administrator shall not grant an Award in the form of stock appreciation rights to any Key
Person (i) who is then subject to the requirements of Section 409A of the Code with respect to such Award if the Common Stock (as
defined below) underlying such Award does not then qualify as &#147;service recipient stock&#148; for purposes of Section 409A
or (ii) if such Award would create adverse tax consequences for such Key Person under Section 457A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(d) <U>Nature of Stock
Appreciation Rights</U>. The grantee of a stock appreciation right shall have the right, subject to the terms of the Plan and the
applicable Award Agreement, to receive from the Company an amount equal to (i) the excess of the Fair Market Value of a share of
Common Stock on the date of exercise of the stock appreciation right over the Exercise Price of the stock appreciation right, multiplied
by (ii) the number of shares with respect to which the stock appreciation right is exercised. Each Award Agreement with respect
to a stock appreciation right shall set forth the Exercise Price of such Award and, unless otherwise specifically provided in the
Award Agreement, the Exercise Price of a stock appreciation right shall equal the Fair Market Value of a share of Common Stock
on the date of grant; <U>provided</U> that in no event may such Exercise Price be less than the greater of (A) the Fair Market
Value of a share of Common Stock on the date of grant and (B) the par value of a share of Common Stock. Payment upon exercise of
a stock appreciation right shall be in cash or in shares of Common Stock (valued at their Fair Market Value on the date of exercise
of the stock appreciation right) or any combination of both, all as the Administrator shall determine. Repricing of stock appreciation
rights granted under the Plan shall not be permitted (1) to the extent such action could cause adverse tax consequences to the
grantee under Sections 409A or 457A of the Code or (2) without prior shareholder approval, to the extent such approval would be
required to be obtained by the Company pursuant to the rules of any applicable stock exchange on which the Common Stock is then
listed, and any action that would be deemed to result in a Repricing of a stock appreciation right shall be deemed null and void
if it would cause such adverse tax consequences or if any requisite shareholder approval related thereto is not obtained prior
to the effective time of such action. Upon the exercise of a stock appreciation right granted in connection with an option, the
number of shares subject to the option shall be reduced by the number of shares with respect to which the stock appreciation right
is exercised. Upon the exercise of an option in connection with which a stock appreciation right has been granted, the number of
shares subject to the stock appreciation right shall be reduced by the number of shares with respect to which the option is exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.3. Exercise of Options and Stock Appreciation
Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Subject to the other
provisions of this Article II and the Plan, each option and stock appreciation right granted under the Plan shall be exercisable
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Timing and Extent
of Exercise</U>. Options and stock appreciation rights shall be exercisable at such times and under such conditions as determined
by the Administrator and set forth in the corresponding Award Agreement, but in no event shall any portion of such Award be exercisable
subsequent to the tenth anniversary of the date on which such Award was granted. Unless the applicable Award Agreement otherwise
provides, an option or stock appreciation right may be exercised from time to time as to all or part of the shares as to which
such Award is then exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Notice of Exercise</U>.
An option or stock appreciation right shall be exercised by the filing of a written notice with the Company or the Company&#146;s designated
exchange agent (the &#147;Exchange Agent&#148;), on such form and in such manner as the Administrator shall prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Payment of Exercise
Price</U>. Any written notice of exercise of an option shall be accompanied by payment for the shares being purchased. Such payment
shall be made: (i) by certified or official bank check (or the equivalent thereof acceptable to the Company or its Exchange Agent)
for the full option Exercise Price; (ii) with the consent of the Administrator, which consent shall be given or withheld in the
sole discretion of the Administrator, by delivery of shares of Common Stock having a Fair Market Value (determined as of the exercise
date) equal to all or part of the option Exercise Price and a certified or official bank check (or the equivalent thereof acceptable
to the Company or its Exchange Agent) for any remaining portion of the full option Exercise Price; or (iii) at the sole discretion
of the Administrator and to the extent permitted by law, by such other provision, consistent with the terms of the Plan, as the
Administrator may from time to time prescribe (whether directly or indirectly through the Exchange Agent), or by any combination
of the foregoing payment methods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(d) <U>Delivery of Certificates
Upon Exercise</U>. Subject to Sections 3.2, 3.4 and 3.13, promptly after receiving payment of the full option Exercise Price, or
after receiving notice of the exercise of a stock appreciation right for which the Administrator determines payment will be made
partly or entirely in shares, the Company or its Exchange Agent shall (i) deliver to the grantee, or to such other Person as may
then have the right to exercise the Award, a certificate or certificates for the shares of Common Stock for which the Award has
been exercised or, in the case of stock appreciation rights, for which the Administrator determines will be made in shares or (ii)
establish an account evidencing ownership of the stock in uncertificated form. &nbsp;If the method of payment employed upon an
option exercise so requires, and if applicable law permits, an optionee may direct the Company or its Exchange Agent, as the case
may be, to deliver the stock certificate(s) to the optionee&#146;s stockbroker.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(e) <U>No Stockholder
Rights</U>. No grantee of an option or stock appreciation right (or other Person having the right to exercise such Award) shall
have any of the rights of a stockholder of the Company with respect to shares subject to such Award until the issuance of a stock
certificate to such Person for such shares. Except as otherwise provided in Section 1.5(c), no adjustment shall be made for dividends,
distributions or other rights (whether ordinary or extraordinary, and whether in cash, securities or other property) for which
the record date is prior to the date such stock certificate is issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.4. Termination of Employment; Death
Subsequent to a Termination of Employment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>General Rule</U>.
Except to the extent otherwise provided in paragraphs (b), (c), (d), (e) or (f) of this Section 2.4 or Section 3.5(b)(iii), a grantee
who incurs a termination of employment or consultancy/service relationship or dismissal from the Board may exercise any outstanding
option or stock appreciation right on the following terms and conditions: (i) exercise may be made only to the extent that the
grantee was entitled to exercise the Award on the date of termination of employment or consultancy/service relationship or dismissal
from the Board, as applicable; and (ii) exercise must occur within three months after termination of employment or consultancy/service
relationship or dismissal from the Board but in no event after the original expiration date of the Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Dismissal &#147;for
Cause&#148;</U>. If a grantee incurs a termination of employment or consultancy/service relationship or dismissal from the Board
&#147;for Cause&#148;, all options and stock appreciation rights not theretofore exercised shall immediately terminate upon the
grantee&#146;s termination of employment or consultancy/service relationship or dismissal from the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Retirement</U>.
If a grantee incurs a termination of employment or consultancy/service relationship or dismissal from the Board as the result of
his or her retirement (as defined below), then any outstanding option or stock appreciation right shall, to the extent exercisable
at the time of such retirement, remain exercisable for a period of three years after such retirement; <U>provided</U> that in no
event may such option or stock appreciation right be exercised following the original expiration date of the Award. For this purpose,
&#147;retirement&#148; shall mean a grantee&#146;s resignation of employment or consultancy/service relationship or dismissal from the
Board, with the Company&#146;s or its applicable Affiliate&#146;s prior consent, on or after (i) his or her 65th birthday, (ii) the date
on which he or she has attained age 60 and completed at least five years of service with the Company or one or more of its Affiliates
(using any method of calculation the Administrator deems appropriate) or (iii) if approved by the Administrator, on or after his
or her having completed at least 20 years of service with the Company or one or more of its Affiliates (using any method of calculation
the Administrator deems appropriate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(d) <U>Disability</U>.
If a grantee incurs a termination of employment or consultancy/service relationship or a dismissal from the Board by reason of
a disability (as defined below), then any outstanding option or stock appreciation right shall, to the extent exercisable at the
time of such termination or dismissal, remain exercisable for a period of one year after such termination or dismissal of employment;
<U>provided</U> that in no event may such option or stock appreciation right be exercised following the original expiration date
of the Award. For this purpose, &#147;disability&#148; shall mean any physical or mental condition that would qualify the grantee
for a disability benefit under the long-term disability plan maintained by the Company or its Affiliate, as applicable, or, if
there is no such plan, a physical or mental condition that prevents the grantee from performing the essential functions of the
grantee&#146;s position (with or without reasonable accommodation) for a period of six consecutive months. The existence of a disability
shall be determined by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(e) <U>Death</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(i) <I>Termination of
Employment as a Result of Grantee&#146;s Death</I>. If a grantee incurs a termination of employment or consultancy/service relationship
or leaves the Board as the result of his or her death, then any outstanding option or stock appreciation right shall, to the extent
exercisable at the time of such death, remain exercisable for a period of one year after such death; <U>provided</U> that in no
event may such option or stock appreciation right be exercised following the original expiration date of the Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(ii) <I>Restrictions
on Exercise Following Death</I>. Any such exercise of an Award following a grantee&#146;s death shall be made only by the grantee&#146;s
executor or administrator or other duly appointed representative reasonably acceptable to the Administrator, unless the grantee&#146;s
will specifically disposes of such Award, in which case such exercise shall be made only by the recipient of such specific disposition.
If a grantee&#146;s personal representative or the recipient of a specific disposition under the grantee&#146;s will shall be entitled to
exercise any Award pursuant to the preceding sentence, such representative or recipient shall be bound by all the terms and conditions
of the Plan and the applicable Award Agreement which would have applied to the grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(f) <U>Administrator
Discretion</U>. The Administrator may, in writing, may waive or modify the application of the foregoing provisions of this Section
2.4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.5. Transferability of Options and
Stock Appreciation Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Except as otherwise provided
in an applicable Award Agreement evidencing an option or stock appreciation right, during the lifetime of a grantee, each such
Award granted to a grantee shall be exercisable only by the grantee, and no such Award shall be assignable or transferable other
than by will or by the laws of descent and distribution. The Administrator may, in any applicable Award Agreement evidencing an
option or stock appreciation right, permit a grantee to transfer all or some of the options or stock appreciation rights to (a)
the grantee&#146;s spouse, children or grandchildren (&#147;Immediate Family Members&#148;), (b) a trust or trusts for the exclusive
benefit of such Immediate Family Members or (c) other parties approved by the Administrator. Following any such transfer, any transferred
options and stock appreciation rights shall continue to be subject to the same terms and conditions as were applicable immediately
prior to the transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.6. Grant of Restricted Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Restricted Stock
Grants</U>. The Administrator may grant restricted shares of Common Stock to such Key Persons, in such amounts and subject to such
vesting and forfeiture provisions and other terms and conditions as the Administrator shall determine, subject to the provisions
of the Plan. A grantee of a restricted stock Award shall have no rights with respect to such Award unless such grantee accepts
the Award within such period as the Administrator shall specify by accepting delivery of a restricted stock Award Agreement in
such form as the Administrator shall determine and, in the event the restricted shares are newly issued by the Company, makes payment
to the Company or its Exchange Agent by certified or official bank check (or the equivalent thereof acceptable to the Administrator)
in an amount at least equal to the par value of the shares covered by the Award (which payment may be waived at the time of grant
of the restricted stock Award to the extent the restricted shares granted hereunder are otherwise deemed to be fully paid and non-assessable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Issuance of Stock
Certificate</U>. Promptly after a grantee accepts a restricted stock Award in accordance with Section 2.6(a), subject to Sections
3.2, 3.4 and 3.13, the Company or its Exchange Agent shall issue to the grantee a stock certificate or stock certificates for the
shares of Common Stock covered by the Award or shall establish an account evidencing ownership of the stock in uncertificated form.
Upon the issuance of such stock certificates, or establishment of such account, the grantee shall have the rights of a stockholder
with respect to the restricted stock, subject to: (i) the nontransferability restrictions and forfeiture provision described in
the Plan (including paragraphs (d), (e) and (f) of this Section 2.6); (ii) in the Administrator&#146;s sole discretion, a requirement,
as set forth in the Award Agreement, that any dividends paid on such shares shall be held in escrow and, unless otherwise determined
by the Administrator, shall remain forfeitable until all restrictions on such shares have lapsed; and (iii) any other restrictions
and conditions contained in the applicable Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Custody of Stock
Certificate</U>. Unless the Administrator shall otherwise determine, any stock certificates issued evidencing shares of restricted
stock shall remain in the possession of the Company until such shares are free of any restrictions specified in the applicable
Award Agreement. The Administrator may direct that such stock certificates bear a legend setting forth the applicable restrictions
on transferability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(d) <U>Nontransferability</U>.
Shares of restricted stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of prior to the
lapsing of all restrictions thereon, except as otherwise specifically provided in this Plan or the applicable Award Agreement.
The Administrator at the time of grant shall specify the date or dates (which may depend upon or be related to the attainment of
performance goals and other conditions) on which the nontransferability of the restricted stock shall lapse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(e) <U>Consequence of
Termination of Employment</U>. Unless otherwise set forth in the applicable Award Agreement, (i) a grantee&#146;s termination of employment
or consultancy/service relationship or dismissal from the Board for any reason other than death or disability (as defined in Section
2.4(d)) shall cause the immediate forfeiture of all shares of restricted stock that have not yet vested as of the date of such
termination of employment or consultancy/service relationship or dismissal from the Board and (ii) if a grantee incurs a termination
of employment or consultancy/service relationship or dismissal from the Board as the result of his or her death or disability,
all shares of restricted stock that have not yet vested as of the date of such termination or departure from the Board shall immediately
vest as of such date. Unless otherwise determined by the Administrator, all dividends paid on shares forfeited under this Section
2.6(e) that have not theretofore been directly remitted to the grantee shall also be forfeited, whether by termination of any escrow
arrangement under which such dividends are held or otherwise. The Administrator may, in writing, waive or modify the application
of the foregoing provisions of this Section 2.6(e).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(f) <U>Special
conditions for Shares issued during calendar year 2015</U>. Unless otherwise set forth in the applicable Award Agreement ,
the shares of restricted stock that will be issued in calendar year 2015, shall vest on the twelfth month anniversary
following the Board&#146;s approval of the Plan subject to the employee remaining employed in the Company or its subsidiaries. A
grantee&#146;s voluntarily departure from the Company or its subsidiaries during the twelve months following the Board&#146;s approval
of the Plan shall cause the immediate forfeiture of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.7. Grant of Restricted Stock Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(a) <U>Restricted Stock Unit Grants</U>. The
Administrator may grant restricted stock units to such Key Persons, and in such amounts and subject to such vesting and forfeiture
provisions and other terms and conditions, as the Administrator shall determine, subject to the provisions of the Plan. A restricted
stock unit granted under the Plan shall confer upon the grantee a right to receive from the Company, conditioned upon the occurrence
of such vesting event as shall be determined by the Administrator and specified in the Award Agreement, the number of such grantee&#146;s
restricted stock units that vest upon the occurrence of such vesting event multiplied by the Fair Market Value of a share of Common
Stock on the date of vesting. Payment upon vesting of a restricted stock unit shall be in cash or in shares of Common Stock (valued
at their Fair Market Value on the date of vesting) or both, all as the Administrator shall determine, and such payments shall be
made to the grantee at such time as provided in the Award Agreement, which shall be (i) if Section 409A of the Code is applicable
to the grantee, within the period required by Section 409A such that it qualifies as a &#147;short-term deferral&#148; pursuant
to Section 409A and the Treasury Regulations issued thereunder, unless the Administrator shall provide for deferral of the Award
in compliance with Section 409A, (ii) if Section 457A of the Code is applicable to the grantee, within the period required by Section
457A(d)(3)(B) such that it qualifies for the exemption thereunder, or (iii) if Sections 409A and 457A of the Code are not applicable
to the grantee, at such time as determined by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(b) <U>Dividend Equivalents</U>. The Administrator
may include in any Award Agreement with respect to a restricted stock unit a dividend equivalent right entitling the grantee to
receive amounts equal to the ordinary dividends that would be paid, during the time such Award is outstanding and unvested, on
the shares of Common Stock underlying such Award if such shares were then outstanding. In the event such a provision is included
in a Award Agreement, the Administrator shall determine whether such payments shall be (i) paid to the holder of the Award, as
specified in the Award Agreement, either (A) at the same time as the underlying dividends are paid, regardless of the fact that
the restricted stock unit has not theretofore vested, or (B) at the time at which the Award&#146;s vesting event occurs, conditioned
upon the occurrence of the vesting event, (ii) made in cash, shares of Common Stock or other property and (iii) subject to such
other vesting and forfeiture provisions and other terms and conditions as the Administrator shall deem appropriate and as shall
set forth in the Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(c) <U>Consequence of Termination of Employment</U>.
Unless otherwise set forth in the applicable Award Agreement, (i) a grantee&#146;s termination of employment or consultancy/service
relationship or dismissal from the Board for any reason other than death or disability (as defined in Section 2.4(d)) shall cause
the immediate forfeiture of all restricted stock units that have not yet vested as of the date of such termination of employment
or consultancy/service relationship or dismissal from the Board and (ii) if a grantee incurs a termination of employment or consultancy/service
relationship or dismissal from the Board as the result of his or her death or disability, all restricted stock units that have
not yet vested as of the date of such termination or departure from the Board shall immediately vest as of such date. Unless otherwise
determined by the Administrator, any dividend equivalent rights on any restricted stock units forfeited under this Section 2.7(c)
that have not theretofore been directly remitted to the grantee shall also be forfeited, whether by termination of any escrow arrangement
under which such dividends are held or otherwise. The Administrator may, in writing, waive or modify the application of the foregoing
provisions of this Section 2.7(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(d) <U>No Stockholder Rights</U>. No grantee
of a restricted stock unit shall have any of the rights of a stockholder of the Company with respect to such Award unless and until
a stock certificate is issued with respect to such Award upon the vesting of such Award (it being understood that the Administrator
shall determine whether to pay any vested restricted stock unit in the form of cash or Company shares or both), which issuance
shall be subject to Sections 3.2, 3.4 and 3.13. Except as otherwise provided in Section 1.5(c), no adjustment to any restricted
stock unit shall be made for dividends, distributions or other rights (whether ordinary or extraordinary, and whether in cash,
securities or other property) for which the record date is prior to the date such stock certificate, if any, is issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(e) <U>Transferability of Restricted Stock
Units</U>. Except as otherwise provided in an applicable Award Agreement evidencing a restricted stock unit, no restricted stock
unit granted under the Plan shall be assignable or transferable. The Administrator may, in any applicable Award Agreement evidencing
a restricted stock unit, permit a grantee to transfer all or some of the restricted stock units to (i) the grantee&#146;s Immediate
Family Members, (ii) a trust or trusts for the exclusive benefit of such Immediate Family Members or (iii) other parties approved
by the Administrator. Following any such transfer, any transferred restricted stock units shall continue to be subject to the same
terms and conditions as were applicable immediately prior to the transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2.8. Grant of Unrestricted Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">The Administrator may
grant (or sell at a purchase price at least equal to par value) shares of Common Stock free of restrictions under the Plan to such
Key Persons and in such amounts and subject to such forfeiture provisions as the Administrator shall determine. Shares may be thus
granted or sold in respect of past services or other valid consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE III.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Miscellaneous</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.1. Amendment of the Plan; Modification
of Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Amendment of the
Plan</U>. The Board may from time to time suspend, discontinue, revise or amend the Plan in any respect whatsoever, except that
no such amendment shall materially impair any rights or materially increase any obligations under any Award theretofore made under
the Plan without the consent of the grantee (or, upon the grantee&#146;s death, the Person having the right to exercise the Award).
For purposes of this Section 3.1, any action of the Board or the Administrator that in any way alters or affects the tax treatment
of any Award shall not be considered to materially impair any rights of any grantee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">(b) <U>Stockholder Approval Requirement</U>.
If required by applicable rules or regulations of a national securities exchange or the SEC, the Company shall obtain stockholder
approval with respect to any amendment to the Plan that (i) expands the types of Awards available under the Plan, (ii) materially
increases the number of shares which may be issued under the Plan, except as permitted pursuant to Section 1.5(c), (iii) materially
increases the benefits to participants under the Plan, including any material change to (A) permit, or that has the effect of,
a &#147;re-pricing&#148; of any outstanding Award, (B) reduce the price at which shares or options to purchase shares may be offered
or (C) extends the duration of the Plan or (iv) materially expands the class of Persons eligible to receive Awards under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Modification of
Awards</U>. The Administrator may cancel any Award under the Plan. The Administrator also may amend any outstanding Award Agreement,
including, without limitation, by amendment which would: (i) accelerate the time or times at which the Award becomes unrestricted,
vested or may be exercised; (ii) waive or amend any goals, restrictions or conditions set forth in the Award Agreement; or (iii)
waive or amend the operation of Section 2.4, 2.6(e) or 2.7(c) with respect to the termination of the Award upon termination of
employment or consultancy/service relationship or dismissal from the Board; provided, however, that no such amendment shall be
made without shareholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to
the Award. However, any such cancellation or amendment that materially impairs the rights or materially increases the obligations
of a grantee under an outstanding Award shall be made only with the consent of the grantee (or, upon the grantee&#146;s death, the Person
having the right to exercise the Award). In making any modification to an Award (<U>e.g.</U>, an amendment resulting in a direct
or indirect reduction in the Exercise Price or a waiver or modification under Section 2.4(f), 2.6(e) or 2.7(c)), the Administrator
may consider the implications under Sections 409A and 457A of the Code from such modification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.2. Consent Requirement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>No Plan Action
Without Required Consent</U>. If the Administrator shall at any time determine that any Consent (as defined below) is necessary
or desirable as a condition of, or in connection with, the granting of any Award under the Plan, the issuance or purchase of shares
or other rights thereunder, or the taking of any other action thereunder (each such action being hereinafter referred to as a &#147;Plan
Action&#148;), then such Plan Action shall not be taken, in whole or in part, unless and until such Consent shall have been effected
or obtained to the full satisfaction of the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Consent Defined</U>.
The term &#147;Consent&#148; as used herein with respect to any Plan Action means (i) any and all listings, registrations or qualifications
in respect thereof upon any securities exchange or under any federal, state or local law, rule or regulation, (ii) any and all
written agreements and representations by the grantee with respect to the disposition of shares, or with respect to any other matter,
which the Administrator shall deem necessary or desirable to comply with the terms of any such listing, registration or qualification
or to obtain an exemption from the requirement that any such listing, qualification or registration be made and (iii) any and all
consents, clearances and approvals in respect of a Plan Action by any governmental or other regulatory bodies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.3. Nonassignability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Except as provided in
Section 2.4(e), 2.5, 2.6(d) or 2.7(e),<B><I>&nbsp;</I></B>(a) no Award or right granted to any Person under the Plan or under any
Award Agreement shall be assignable or transferable other than by will or by the laws of descent and distribution and (b) all rights
granted under the Plan or any Award Agreement shall be exercisable during the life of the grantee only by the grantee or the grantee&#146;s
legal representative or the grantee&#146;s permissible successors or assigns (as authorized and determined by the Administrator). All
terms and conditions of the Plan and the applicable Award Agreements will be binding upon any permitted successors or assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.4. Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Withholding</U>.
A grantee or other Award holder under the Plan shall be required to pay, in cash, to the Company, and the Company and Affiliates
shall have the right and are hereby authorized to withhold from any Award, from any payment due or transfer made under any Award
or under the Plan or from any compensation or other amount owing to such grantee or other Award holder, the amount of any applicable
withholding taxes in respect of an Award, its grant, its exercise, its vesting, or any payment or transfer under an Award or under
the Plan, and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for payment
of such taxes. Whenever shares of Common Stock are to be delivered pursuant to an Award under the Plan, with the approval of the
Administrator, which the Administrator shall have sole discretion whether or not to give, the grantee may satisfy the foregoing
condition by electing to have the Company withhold from delivery shares having a value equal to the amount of minimum tax required
to be withheld. Such shares shall be valued at their Fair Market Value as of the date on which the amount of tax to be withheld
is determined. Fractional share amounts shall be settled in cash. Such a withholding election may be made with respect to all or
any portion of the shares to be delivered pursuant to an Award as may be approved by the Administrator in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Liability for
Taxes</U>. Grantees and holders of Awards are solely responsible and liable for the satisfaction of all taxes and penalties that
may arise in connection with Awards (including, without limitation, any taxes arising under Sections 409A and 457A of the Code)
and the Company shall not have any obligation to indemnify or otherwise hold any such Person harmless from any or all of such taxes.
The Administrator shall have the discretion to organize any deferral program, to require deferral election forms, and to grant
or, notwithstanding anything to the contrary in the Plan or any Award Agreement, to unilaterally modify any Award in a manner that
(i) conforms with the requirements of Sections 409A and 457A of the Code (to the extent applicable), (ii) voids any participant
election to the extent it would violate Section 409A or 457A of the Code (to the extent applicable) and (iii) for any distribution
event or election that could be expected to violate Section 409A or 457A of the Code, make the distribution only upon the earliest
of the first to occur of a &#147;permissible distribution event&#148; within the meaning of Section 409A of the Code or a distribution
event that the participant elects in accordance with Section 409A of the Code. The Administrator shall have the sole discretion
to interpret the requirements of the Code, including, without limitation, Sections 409A and 457A, for purposes of the Plan and
all Awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.5. Change in Control</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Change in Control
Defined</U>. For purposes of the Plan, &#147;Change in Control&#148; shall mean the occurrence of any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(i) any &#147;person&#148;
(as defined in Section 13(d)(3) of the 1934 Act), corporation or other entity (other than (A) the Company, (B) any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, or (C) any company or other
entity owned, directly or indirectly, by the holders of the voting stock of the Company in substantially the same proportions as
their ownership of the aggregate voting power of the capital stock ordinarily entitled to elect directors of the Company) acquires
&#147;beneficial ownership&#148; (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of more than 50% of the
aggregate voting power of the capital stock ordinarily entitled to elect directors of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(ii) the sale of all
or substantially all the Company&#146;s assets in one or more related transactions to a Person or group of Persons, other than such
a sale (A) to a Subsidiary which does not involve a change in the equity holdings of the Company or (B) to an entity which has
acquired all or substantially all the Company&#146;s assets (any such entity described in clause (A) or (B), the &#147;Acquiring Entity&#148;)
if, immediately following such sale, 50% or more of the aggregate voting power of the capital stock ordinarily entitled to elect
directors of the Acquiring Entity (or, if applicable, the ultimate parent entity that directly or indirectly has beneficial ownership
of more than 50% of the aggregate voting power of the capital stock ordinarily entitled to elect directors of the Acquiring Entity)
is beneficially owned by the holders of the voting stock of the Company, and such voting power among the persons who were holders
of the voting stock of the Company immediately prior to such sale is, immediately following such sale, held in substantially the
same proportions as the aggregate voting power of the capital stock ordinarily entitled to elect directors of the Company immediately
prior to such sale;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(iii) any merger, consolidation,
reorganization or similar event of the Company or any Subsidiary as a result of which the holders of the voting stock of the Company
immediately prior to such merger, consolidation, reorganization or similar event do not directly or indirectly hold 50% or more
of the aggregate voting power of the capital stock of the surviving entity (or, if applicable, the ultimate parent entity that
directly or indirectly has beneficial ownership of more than 50% of the aggregate voting power of the capital stock ordinarily
entitled to elect directors of the surviving entity) and such voting power among the Persons who were holders of the voting stock
of the Company immediately prior to such sale is, immediately following such sale, held in substantially the same proportions as
the aggregate voting power of the capital stock ordinarily entitled to elect directors of the Company immediately prior to such
sale;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(iv) the approval by
the Company&#146;s stockholders of a plan of complete liquidation or dissolution of the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(v) during any period
of 24 consecutive calendar months, individuals:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; font-size: 10pt; text-align: right">(A)</TD>
    <TD STYLE="width: 89%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.75pt">who were directors of the Company on the first day
        of such period, or</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.75pt">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: right">(B)</TD>
    <TD STYLE="padding-left: 8.75pt; font-size: 10pt">whose election or nomination for election to the Board was recommended or approved by at least a majority of the directors then still in office who were directors of the Company on the first day of such period, or whose election or nomination for election were so approved, shall cease to constitute a majority of the Board.&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 85.5pt">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 85.5pt">shall cease to constitute a majority of
the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 85.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notwithstanding the foregoing, for each Award subject to Section
409A of the Code, a Change in Control shall be deemed to occur under this Plan with respect to such Award only if a change in the
ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company
shall also be deemed to have occurred under Section 409A of the Code, <U>provided</U> that such limitation shall apply to such
Award only to the extent necessary to avoid adverse tax effects under Section 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Effect of a Change
in Control</U>. Unless the Administrator provides otherwise in a Award Agreement, upon the occurrence of a Change in Control:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(i) notwithstanding any
other provision of this Plan, any Award then outstanding shall become fully vested and any Award in the form of an option or stock
appreciation right shall be immediately exercisable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(ii) to the extent permitted
by law and not otherwise limited by the terms of the Plan, the Administrator may amend any Award Agreement in such manner as it
deems appropriate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">(iii) a grantee who incurs
a termination of employment or consultancy/service relationship or dismissal from the Board for any reason, other than a termination
or dismissal &#147;for Cause&#148;, concurrent with or within one year following the Change in Control may exercise any outstanding
option or stock appreciation right, but only to the extent that the grantee was entitled to exercise the Award on the date of his
or her termination of employment or consultancy/service relationship or dismissal from the Board, until the earlier of (A) the
original expiration date of the Award and (B) the later of (x) the date provided for under the terms of Section 2.4 without reference
to this Section 3.5(b)(iii) and (y) the first anniversary of the grantee&#146;s termination of employment or consultancy/service relationship
or dismissal from the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(c) <U>Miscellaneous</U>.
Whenever deemed appropriate by the Administrator, any action referred to in paragraph (b)(ii) of this Section 3.5 may be made conditional
upon the consummation of the applicable Change in Control transaction. For purposes of the Plan and any Award Agreement granted
hereunder, the term &#147;Company&#148; shall include any successor to Star Bulk Carriers Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.6. Operation and Conduct of Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">Nothing in the Plan or any Award Agreement
shall be construed as limiting or preventing the Company or any of its Affiliates from taking any action with respect to the operation
and conduct of their business that they deem appropriate or in their best interests, including any or all adjustments, recapitalizations,
reorganizations, exchanges or other changes in the capital structure of the Company or any of its Affiliates, any merger or consolidation
of the Company or any of its Affiliates, any issuance of Company shares or other securities or subscription rights, any issuance
of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or other securities or rights
thereof, any dissolution or liquidation of the Company or any of its Affiliates, any sale or transfer of all or any part of the
assets or business of the Company or any of its Affiliates, or any other corporate act or proceeding, whether of a similar character
or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.7. No Rights to Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">No Key Person or other Person shall have any
claim to be granted any Award under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.8. Right of Discharge Reserved</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Nothing in the Plan or
in any Award Agreement shall confer upon any grantee the right to continue his or her employment with the Company or any of its
Affiliates, his or her consultancy/service relationship with the Company or any of its Affiliates, or his or her position as a
director of the Company or any of its Affiliates, or affect any right that the Company or any of its Affiliates may have to terminate
such employment or consultancy/service relationship or service as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.9. Non-Uniform Determinations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">The Administrator&#146;s determinations
and the treatment of Key Persons and grantees and their beneficiaries under the Plan need not be uniform and may be made and determined
by the Administrator selectively among Persons who receive, or who are eligible to receive, Awards under the Plan (whether or not
such Persons are similarly situated). Without limiting the generality of the foregoing, the Administrator shall be entitled, among
other things, to make non-uniform and selective determinations, and to enter into non-uniform and selective Award Agreements, as
to (a) the Persons to receive Awards under the Plan, (b) the types of Awards granted under the Plan, (c) the number of shares to
be covered by, or with respect to which payments, rights or other matters are to be calculated with respect to, Awards and (d)
the terms and conditions of Awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.10. Other Payments or Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Nothing contained in
the Plan shall be deemed in any way to limit or restrict the Company from making any award or payment to any Person under any other
plan, arrangement or understanding, whether now existing or hereafter in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.11. Headings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">Any section, subsection,
paragraph or other subdivision headings contained herein are for the purpose of convenience only and are not intended to expand,
limit or otherwise define the contents of such subdivisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.12. Effective Date and Term of Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(a) <U>Adoption; Stockholder
Approval</U>. The Plan was adopted by the Board on April 13, 2015. The Board may, but need not, make the granting of any Awards
under the Plan subject to the approval of the Company&#146;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">(b) <U>Termination of
Plan</U>. The Board may terminate the Plan at any time. All Awards made under the Plan prior to its termination shall remain in
effect until such Awards have been satisfied or terminated in accordance with the terms and provisions of the Plan and the applicable
Award Agreements. No Awards may be granted under the Plan following the tenth anniversary of the date on which the Plan was adopted
by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.13. Restriction on Issuance of Stock
Pursuant to Awards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">The Company shall not
permit any shares of Common Stock to be issued pursuant to Awards granted under the Plan unless such shares of Common Stock are
fully paid and non-assessable under applicable law. Notwithstanding anything to the contrary in the Plan or any Award Agreement,
at the time of the exercise of any Award, at the time of vesting of any Award, at the time of payment of shares of Common Stock
in exchange for, or in cancellation of, any Award, or at the time of grant of any unrestricted shares under the Plan, the Company
and the Administrator may, if either shall deem it necessary or advisable for any reason, require the holder of an Award (a) to
represent in writing to the Company that it is the Award holder&#146;s then-intention to acquire the shares with respect to which the
Award is granted for investment and not with a view to the distribution thereof or (b) to postpone the date of exercise until such
time as the Company has available for delivery to the Award holder a prospectus meeting the requirements of all applicable securities
laws; and no shares<B><I>&nbsp;</I></B>shall be issued or transferred in connection with any Award unless and until all legal requirements
applicable to the issuance or transfer of such shares have been complied with to the satisfaction of the Company and the Administrator.
The Company and the Administrator shall have the right to condition any issuance of shares to any Award holder hereunder on such
Person&#146;s undertaking in writing to comply with such restrictions on the subsequent transfer of such shares as the Company or the
Administrator shall deem necessary or advisable as a result of any applicable law, regulation or official interpretation thereof,
and all share certificates delivered under the Plan shall be subject to such stop transfer orders and other restrictions as the
Company or the Administrator may deem advisable under the Plan, the applicable Award Agreement or the rules, regulations and other
requirements of the SEC, any stock exchange upon which such shares are listed, and any applicable securities or other laws, and
certificates representing such shares may contain a legend to reflect any such restrictions. The Administrator may refuse to issue
or transfer any shares or other consideration under an Award if it determines that the issuance or transfer of such shares or other
consideration might violate any applicable law or regulation or entitle the Company to recover the same under Section 16(b) of
the 1934 Act, and any payment tendered to the Company by a grantee or other Award holder in connection with the exercise of such
Award shall be promptly refunded to the relevant grantee or other Award holder. Without limiting the generality of the foregoing,
no Award granted under the Plan shall be construed as an offer to sell securities of the Company, and no such offer shall be outstanding,
unless and until the Administrator has determined that any such offer, if made, would be in compliance with all applicable requirements
of any applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.14. Requirement of Notification of
Election Under Section 83(b) of the Code</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">If an Award recipient, in connection with
the acquisition of Company shares under the Plan, makes an election under Section 83(b) of the Code (to include in gross income
in the year of transfer the amounts specified in Section 83(b) of the Code), the grantee shall notify the Administrator of such
election within ten days of filing notice of the election with the U.S. Internal Revenue Service, in addition to any filing and
notification required pursuant to regulations issued under Section 83(b) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.15. Severability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">If any provision of the Plan or any Award
is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would
disqualify the Plan or any Award under any law deemed applicable by the Administrator, such provision shall be construed or deemed
amended to conform to the applicable laws or, if it cannot be construed or deemed amended without, in the determination of the
Administrator, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction,
Person or Award and the remainder of the Plan and any such Award shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.16. Sections 409A and 457A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">To the extent applicable,
the Plan and Award Agreements shall be interpreted in accordance with Sections 409A and 457A of the Code and Department of Treasury
regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of the Plan or any applicable Award
Agreement to the contrary, in the event that the Administrator determines that any Award may be subject to Section 409A or 457A
of the Code, the Administrator may adopt such amendments to the Plan and the applicable Award Agreement or adopt other policies
and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator
determines are necessary or appropriate to (i) exempt the Plan and Award from Sections 409A and 457A of the Code and/or preserve
the intended tax treatment of the benefits provided with respect to the Award, or (ii) comply with the requirements of Sections
409A and 457A of the Code and related Department of Treasury guidance and thereby avoid the application of penalty taxes under
Sections 409A and 457A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.17. Forfeiture; Clawback</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">The Administrator may, in its sole discretion,
specify in the applicable Award Agreement that any realized gain with respect to options or stock appreciation rights and any realized
value with respect to other Awards shall be subject to forfeiture or clawback, in the event of (a) a grantee&#146;s breach of any non-competition,
non-solicitation, confidentiality or other restrictive covenants with respect to the Company or any of its Affiliates or (ii) a
financial restatement that reduces the amount of bonus or incentive compensation previously awarded to a grantee that would have
been earned had results been properly reported.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.18. No Trust or Fund Created</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">Neither the Plan nor any Award shall create
or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any of its Affiliates
and an Award recipient or any other Person. To the extent that any Person acquires a right to receive payments from the Company
or any of its Affiliates pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor
of the Company or its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.19. No Fractional Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">No fractional shares shall be issued or delivered
pursuant to the Plan or any Award, and the Administrator shall determine whether cash, other securities, or other property shall
be paid or transferred in lieu of any fractional shares or whether such fractional shares or any rights thereto shall be canceled,
terminated, or otherwise eliminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>3.20. Governing Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">The Plan will be construed
and administered in accordance with the laws of the State of New York, without giving effect to principles of conflict of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3pc"></P>

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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>s001237x1_ex12-1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 12.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF THE PRINCIPAL EXECUTIVE
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Petros Pappas, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">1.</TD><TD>I have reviewed this annual report on Form 20-F of Star Bulk Carriers Corp.;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">2.</TD><TD>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">3.</TD><TD>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods
presented in this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">4.</TD><TD>The Company&#146;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f)) and 15d-15(f) for the Company and have:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">a.</TD><TD>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">b.</TD><TD>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">c.</TD><TD>Evaluated the effectiveness of the Company&#146;s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">d.</TD><TD>Disclosed in this report any change in the Company&#146;s internal control over financial reporting that occurred during the period
covered by the annual report that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal
control over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">5.</TD><TD>The Company&#146;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company&#146;s auditors and the audit committee of the Company&#146;s board of directors (or persons performing
the equivalent functions):</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">a.</TD><TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the Company&#146;s ability to record, process, summarize and report financial information;
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">b.</TD><TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s
internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March <U>&nbsp;22</U>, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">/s/ Petros Pappas</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Petros Pappas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer (Principal Executive Officer)</P>

</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

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<TYPE>EX-12.2
<SEQUENCE>4
<FILENAME>s001237x1_ex12-2.htm
<DESCRIPTION>EXHIBIT 12.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 12.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF THE PRINCIPAL FINANCIAL
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Simos Spyrou, and I, Christos Begleris, each a Co-Chief Financial
Officer of the Company, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">1.</TD><TD>I have reviewed this annual report on Form 20-F of Star Bulk Carriers Corp.;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">2.</TD><TD>Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">3.</TD><TD>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods
presented in this report;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">4.</TD><TD>The Company&#146;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f)) and 15d-15(f) for the Company and have:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">a.</TD><TD>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">b.</TD><TD>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">c.</TD><TD>Evaluated the effectiveness of the Company&#146;s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">d.</TD><TD>Disclosed in this report any change in the Company&#146;s internal control over financial reporting that occurred during the period
covered by the annual report that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal
control over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pc"></TD><TD STYLE="width: 1.5pc">5.</TD><TD>The Company&#146;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company&#146;s auditors and the audit committee of the Company&#146;s board of directors (or persons performing
the equivalent functions):</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">a.</TD><TD>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the Company&#146;s ability to record, process, summarize and report financial information;
and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pc"></TD><TD STYLE="width: 1.5pc">b.</TD><TD>Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s
internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">/s/ Simos Spyrou</TD>
    <TD STYLE="width: 60%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Simos Spyrou</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Co-Chief Financial Officer (Co-Principal Financial Officer)</P>

</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Christos Begleris</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Christos Begleris</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Co-Chief Financial Officer (Co-Principal Financial Officer)</P>

</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-13.1
<SEQUENCE>5
<FILENAME>s001237x1_ex13-1.htm
<DESCRIPTION>EXHIBIT 13.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 13.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRINCIPAL EXECUTIVE OFFICER CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO 18 U.S.C. SECTION 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with this Annual Report of Star Bulk Carriers
Corp. (the &#147;Company&#148;) on Form 20-F for the year ended December 31, 2015 as filed with the Securities and Exchange
Commission (the &#147;SEC&#148;) on or about the date hereof (the &#147;Report&#148;), I, Petros Pappas, Chief Executive Officer
of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5pc">(1)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5pc">(2)</TD><TD>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A signed original of this written statement has been
provided to the Company and will be retained by the Company and furnished to the SEC or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">/s/ Petros Pappas</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Petros Pappas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer (Principal Executive Officer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pc">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DESCRIPTION>EXHIBIT 13.2
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<P STYLE="margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 13.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRINCIPAL FINANCIAL OFFICER CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO 18 U.S.C. SECTION 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with this Annual Report of Star Bulk Carriers
Corp. (the &#147;Company&#148;) on Form 20-F for the year ended December 31, 2015 as filed with the Securities and Exchange
Commission (the &#147;SEC&#148;) on or about the date hereof (the &#147;Report&#148;), I, Simos Spyrou, and I, Christos Begleris,
each a Co-Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5pc">(1)</TD><TD>The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5pc">(2)</TD><TD>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A signed original of this written statement has been provided
to the Company and will be retained by the Company and furnished to the SEC or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">/s/ Simos Spyrou</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Simos Spyrou</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Co-Chief Financial Officer (Co-Principal Financial Officer)</P>

</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Christos Begleris</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Christos Begleris</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Co-Chief Financial Officer (Co-Principal Financial Officer)</P>

</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-15.1
<SEQUENCE>7
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<DESCRIPTION>EXHIBIT 15.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 15.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Consent of Independent Registered Public
Accounting Firm</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in the following Registration Statements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration Statement (Form F-3 No. 333-180674, as amended) of Star
Bulk Carriers Corp.; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration Statement (Form F-3 No. 333-191135, as amended) of Star
Bulk Carriers Corp.; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration Statement (Form S-8 No. 333-176922) of Star Bulk Carriers
Corp.; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration Statement (Form F-3 No. 333-197886, as amended) of Star
Bulk Carriers Corp.; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration Statement (Form F-3 No. 333-198832, as amended) of Star
Bulk Carriers Corp.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">of our reports dated March 22, 2016,
with respect to the consolidated financial statements of Star Bulk Carriers Corp. and the effectiveness of internal control
over financial reporting of Star Bulk Carriers Corp. included in this Annual Report (Form 20-F) of Star Bulk Carriers Corp.
for the year ended December 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Ernst &amp; Young (Hellas) Certified Auditors-Accountants
S.A.<BR> <BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Athens, Greece&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 22,
2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



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  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;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:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;a)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Principles of consolidation:&lt;/b&gt;&lt;/i&gt; The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (&amp;#147;U.S. GAAP&amp;#148;), which include the accounts of Star Bulk and its wholly owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated in the consolidation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Bulk as the holding company determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under ASC 810 &amp;#147;Consolidation&amp;#148;, a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions. Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;A variable interest entity (&amp;#147;VIE&amp;#148;) is an entity as defined under ASC 810-10, which in general either does not have equity investors with voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2013, 2014 and 2015, no such interest existed.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;b)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Equity method investments: &lt;/b&gt;&lt;/i&gt;Investments in the equity of entities over which the Company exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this method, the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the investment. When the Company's share of losses in an entity accounted for by the equity method equals or exceeds its interest in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made payments on behalf of the entity.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;c)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Use of estimates: &lt;/b&gt;&lt;/i&gt;The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;d)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Comprehensive income/ (loss): &lt;/b&gt;&lt;/i&gt;The statement of comprehensive income / (loss) presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. Reclassification adjustments are presented out of accumulated other comprehensive income / (loss) on the face of the statement in which the components of other comprehensive income / (loss) are presented or in the notes to the financial statements. The Company follows the provisions of ASC 220 &amp;#147;Comprehensive Income&amp;#148;, and presents items of net income / (loss), items of other comprehensive income / (loss) (&amp;#147;OCI&amp;#148;) and total comprehensive income / (loss) in two separate and consecutive statements. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;e)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Concentration of credit risk: &lt;/b&gt;&lt;/i&gt;Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents and restricted cash, trade accounts receivable and derivative contracts (including freight derivatives, bunker derivatives and interest rate swaps). The Company's policy is to place cash and cash equivalents, and restricted cash with financial institutions evaluated as being creditworthy and are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance by counter parties to derivative instruments. To decrease this risk, the Company limits its exposure in over-the-counter transactions by diversifying among counter parties with high credit ratings, and selects freight derivatives, if any, that clear through the London Clearing House. The Company performs periodic evaluations of the relative credit standing of those financial institutions. In addition the Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers' financial condition. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;f)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Foreign currency transactions:&lt;/b&gt;&lt;/i&gt; The functional currency of the Company is the U.S. Dollar since its vessels operate in the international shipping markets, and therefore primarily transact business in U.S. Dollars. The Company's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the period-end exchange rates. Resulting gains or losses are included in &amp;#147;Interest and other income&amp;#148; in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;g)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Cash and cash equivalents:&lt;/b&gt;&lt;/i&gt; The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;h)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Restricted cash&lt;/b&gt;&lt;/i&gt;: Restricted cash represents minimum cash deposits or cash collateral deposits required to be maintained with certain banks under the Company's borrowing arrangements, which are legally restricted as to withdrawal or use. In the event that the obligation to maintain such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets. Otherwise, they are classified as non-current assets. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;i)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Trade accounts receivable, net: &lt;/b&gt;&lt;/i&gt;The amount shown as Trade accounts receivable, net, at each balance sheet date, includes estimated amounts recovered from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. As of December 31, 2014 and 2015, provision for doubtful receivables was nil. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;j)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Inventories:&lt;/b&gt;&lt;/i&gt; Inventories consist of consumable lubricants and bunkers, which are stated at the lower of cost or market value. Cost is determined by the first in, first out method.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;k)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Vessels, net: &lt;/b&gt;&lt;/i&gt;Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for its initial voyage. Any subsequent expenditure, when it does not extend the useful life of the vessel,&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt; &lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;increase the earning capacity or improve the efficiency or safety of the vessel, is expensed as incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;The cost of each of the Company's vessels is depreciated beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value (vessel's residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton). &amp;#160;Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Effective as of January&amp;#160;1, 2015, following management's reassessment of the residual value of the Company's vessels, the Company increased the estimated scrap rate per light weight tonnage 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 change in this accounting estimate, which pursuant to ASC 250 &amp;#147;Accounting Changes and Error Corrections&amp;#148; was applied prospectively and did not require retrospective application, decreased the depreciation expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share. &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;l)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Advances for vessels under construction:&lt;/b&gt;&lt;/i&gt; Advances made to shipyards during construction periods are classified as &amp;#147;Advances for vessels under construction and acquisition of vessels&amp;#148; until the date of delivery and acceptance of the vessel, at which date they are reclassified to &amp;#147;Vessels and other fixed assets, net&amp;#148;. Advances for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and other expenses directly related to the construction of the vessel or the preparation of the vessel for its initial voyage. Financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;m)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Fair value of above/below market acquired time charter:&lt;/b&gt;&lt;/i&gt;&lt;b&gt; &lt;/b&gt;&amp;#160;The Company values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below market acquired time charters is determined by comparing the existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. &amp;#160;Such intangible asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;n)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Impairment of long-lived assets: &lt;/b&gt;&lt;/i&gt;The Company follows guidance related to the Impairment or Disposal of long-lived assets which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use and eventual disposition of the asset is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market data and taking into consideration agreed sale prices and third party valuations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In this respect, the management regularly reviews the carrying amount of the vessels, including newbuilding contracts, on a vessel-by-vessel basis, when events and circumstances indicate that the carrying amount of the vessels or newbuilding contracts might not be recoverable (such as vessel sales and purchases, business plans, obsolescence or damage to the asset and overall market conditions). When impairment indicators are present, the Company compares undiscounted cash flows to the carrying values of the Company's vessels to determine if the assets are impaired. In developing its estimates of future undiscounted net operating cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, ship operating expenses, vessels' residual value, fleet utilization and the estimated remaining useful lives of the vessels, assumed to be 25 years from the delivery of the vessel from the shipyard. These assumptions are based on current market conditions, historical industry and Company specific trends, as well as future expectations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The undiscounted projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed vessel days and an estimated daily time charter equivalent rate for the unfixed days over the estimated remaining economic life of each vessel, net of brokerage and address commissions. Estimates of the daily time charter equivalent for the unfixed days are based on the current Forward Freight Agreement (&amp;#147;FFA&amp;#148;) rates, for the first three-year period, and historical average rate levels of similar size vessels for the period thereafter. The expected cash inflows from charter revenues are based on an assumed fleet utilization rate of approximately 98% for the unfixed days, taking into account that assumed charter rates are based on time charter equivalent rates, which include the ballast and laden portion of each relevant voyage. In assessing expected future cash outflows, management forecasts vessel operating expenses, which are based on the Company's internal budget for the first annual period and thereafter assume an annual inflation rate of 3% (escalating during the first three-year period), as well as vessel expected maintenance costs (for dry docking and special surveys). The estimated salvage value of each vessel is $0.3 per light weight ton, in accordance with the Company's vessel depreciation policy. &amp;#160;The Company uses a probability weighted approach for developing estimates of future cash flows used to test its vessels for recoverability when alternative courses of action are under consideration (i.e. sale or continuing operation of a vessel). &amp;#160;If the Company's estimate of undiscounted future cash flows for any vessel is lower than the vessel's carrying value, the carrying value is written down to the vessel's fair market value with a charge recorded in earnings.&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:Calibri;font-size:13.3px;color:#000000; "&gt;Using the framework for estimating projected undiscounted net operating cash flows described above, the Company completed its impairment analysis for the years ended December 31, 2013, 2014 and 2015, for those operating vessels and newbuildings whose carrying values were above their respective market values. For 2013 and 2014, no asset impairment was necessary. An impairment loss of $321,978 was recognized for the year ended December 31, 2015, which resulted primarily from the Company's actual and intended vessel sales that are further discussed in Notes 5 and 6.&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:Calibri;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;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;o)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Vessels held for sale: &lt;/b&gt;&lt;/i&gt;It is the Company's policy to dispose of vessels when suitable opportunities occur. The Company classifies a vessel as being held for sale when all of the following criteria, enumerated under ASC 360 &amp;#147;Property, Plant, and Equipment&amp;#148;, are met: (i) management has committed to a plan to sell the vessel; (ii) the vessel is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the vessel have been initiated; (iv) the sale of the vessel is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the vessel is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded under &amp;#147;Impairment loss&amp;#148; in the accompanying consolidated statement of operations. The vessels are not depreciated once they meet the criteria to be classified as held for sale. At December 31, 2014 and 2015, there were no vessels that met the criteria to be classified as held for sale.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;p)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Financing costs:&lt;/b&gt;&lt;/i&gt; Fees paid to lenders or required to be paid to third parties on the lenders' behalf for obtaining new loans, senior notes or for refinancing or amending existing loans, are recorded as deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the duration of the relevant loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period in which the repayment or refinancing is made, subject to the guidance regarding &lt;i&gt;Debt Extinguishment&lt;/i&gt;. Any unamortized balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the relevant credit facility in the period in which the refinancing occurs&lt;i&gt;.&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;q)&lt;/b&gt;&lt;/i&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;i&gt;&lt;b&gt;Pension indemnities:&lt;/b&gt; &lt;/i&gt;Administrative employees are covered by state-sponsored pension funds of Greece. Both employees and the Company are required to contribute a portion of the employees' gross salary to the fund. The related expense is recorded under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations and the corresponding liability at each period end is reflected within &amp;#147;Accounts payable&amp;#148; in the accompanying consolidated balance sheets. Upon retirement, the state-sponsored pension funds are responsible for paying the employees retirement benefits without recourse to the Company.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;r&lt;i&gt;&lt;b&gt;)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Stock incentive plan awards: &lt;/b&gt;&lt;/i&gt;Stock based compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for their services, and is included in &amp;#147;General and administrative expenses&amp;#148; in the consolidated statements of operations. The shares are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. Guidance related to stock compensation describes two generally accepted methods of recognizing expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the ''accelerated method'', which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award and 2) the ''straight-line method'' which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated method.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The fair value of share options 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-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;s)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Dry docking and special survey expenses: &lt;/b&gt;&lt;/i&gt;Dry docking and special survey expenses are expensed when incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;t)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Accounting for revenue and related expenses: &lt;/b&gt;&lt;/i&gt;The Company generates its revenues from charterers for the charterhire of its vessels under time charter agreements, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charterhire rate, or voyage charter agreements, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified freight rate per ton.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Under time charter agreements, voyage costs, such as fuel and port charges are borne and paid by the charterer. Company's time charter agreements are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with guidance related to leases.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Revenue from voyage charter agreements is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter agreements and is recognized when an arrangement exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue includes cash received prior to the balance sheet date and is related to revenue to be earned after such date. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any) as long term liability.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Payments in advance for services are recorded as prepaid expenses.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Voyage expenses consist of bunker consumption, port expenses and agency fees related to the voyage. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Brokerage commissions are paid by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses and vessel operating expenses are recognized as incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Expenses related to the chartering-in of vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage, except for the hire expense for chartering-in the respective vessels, which is included within &amp;#147;Charter in hire expense&amp;#148; in the consolidated statement of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;u)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Fair value measurements: &lt;/b&gt;&lt;/i&gt;The Company follows the provisions of ASC 820, &amp;#147;Fair Value Measurements and Disclosures&amp;#148; that defines and provides guidance as to the measurement of fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entity's own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 19).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;v)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Earnings/ (loss) per share&lt;/b&gt;&lt;/i&gt;&lt;b&gt;:&lt;/b&gt; Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average number of common shares outstanding and vested during the period. Diluted earnings per share reflect the potential dilution assuming that common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and the hypothetical proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note 14).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;w)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Segment reporting:&lt;/b&gt;&lt;/i&gt; The Company reports financial information and evaluates its operations and operating results by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the Chief Operating Officer, who is the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment, that of operating dry bulk vessels. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;x)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Accounting for leases&lt;/b&gt;: Leases of assets under which substantially all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Lease payments under an operating lease are recognized as an expense on a straight-line method over the lease term. As of December 31, 2015, the Company held no operating lease arrangements acting as lessee other than its office leases and an operating lease arrangement for one Supramax vessel (Note 5). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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;. As of December 31, 2015 the Company was the lessee under certain capital lease arrangements as further discussed in Notes 5 and 6. 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 incurred under a capital lease is included within &amp;#147;Interest and finance costs&amp;#148; in the consolidated statement of operations. The depreciation of vessels under capital lease is included within &amp;#147;Depreciation&amp;#148; in the consolidated statement of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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, 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-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;y)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Derivatives&lt;/b&gt;: The Company enters into derivative financial instruments to manage risk related to fluctuations of interest rates. In case the instruments are eligible for hedge accounting, at the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed at each reporting date to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. All derivatives are recorded on the balance sheet as assets or liabilities and are measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in their fair value is recorded in Accumulated other comprehensive income / (loss) and is subsequently recognized in earnings, under &amp;#147;Interest and finance costs&amp;#148; when the hedged items impact earnings, while the ineffective portion, if any, is recognized immediately in current period earnings 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-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The changes in the fair value of derivatives not qualifying for hedge accounting are recognized in earnings. The Company discontinues cash flow hedge accounting if the hedging instrument expires or is sold, terminated or exercised and it no longer meets all the criteria for hedge accounting or if the Company de-designates the instrument as a cash flow hedge. At that time, any cumulative gain or loss on the hedging instrument recognized in equity remains in equity until the forecasted transaction occurs or until it becomes probable of not occurring. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in earnings. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is reclassified to earnings for the year. Following the hedging designations made during the third quarter of 2014 (Note 19), all of the Company's interest rates swaps effective as of December 31, 2014 were designated as accounting hedges. Only four out of the nine of the Company's interest rate swaps effective as of December 31, 2015 remained designated as accounting hedges as of that date. No hedge accounting was applied in prior periods.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;z)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Recent accounting pronouncements -&amp;#160;not yet adopted:&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Revenue from Contracts with Customers (Topic 606)&lt;/b&gt;&lt;/i&gt;: On May 28, 2014, the FASB issued Accounting Standards Update (&amp;#147;ASU&amp;#148;) 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 (Topic 606)&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-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Presentation of Financial Statements - Going Concern:&lt;/b&gt;&lt;/i&gt; In August 2014, the FASB issued ASU 2014-15, &lt;i&gt;Presentation of Financial Statements - Going Concern&lt;/i&gt;. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date when financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. The guidance is effective for annual periods ending after December&amp;#160;15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this ASU is not expected to have a material effect on the Company's consolidated financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 FASB issued ASU No. 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 existing 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-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Consolidation (Topic 810) - Amendments to the Consolidation Analysis:&lt;/b&gt;&lt;/i&gt; In February&amp;#160;2015, the FASB issued ASU 2015-02, &amp;#147;Consolidation (Topic 810) - Amendments to the Consolidation Analysis&amp;#148;, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December&amp;#160;15, 2015. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption of ASU 2015-02 on the consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. 2015-10, &lt;i&gt;Technical Corrections and Improvements. &lt;/i&gt;The amendments in ASU 2015-10 cover a wide range of Topics in the ASC. The amendments in this update 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 ASU 2015-10, 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 ASU 2015-10. The amendments that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, and early adoption of those amendments is permitted, including adoption in an interim period. While the Company has not yet adopted the amendments of ASU 2015-10 that require transition guidance, their adoption is not expected to have a material effect on the Company's financial statements and accompanying notes. &amp;#160;All other amendments were effective upon the issuance of ASU 2015-10. The adoption of those amendments has not had a material effect on the Company's financial statements and accompanying notes. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Simplifying the Measurement of Inventory:&lt;/b&gt; &lt;/i&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;. ASC 330, &amp;#147;Inventory&amp;#148;, 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 ASU 2015-11 require an entity to measure inventory within the scope of ASU 2015-11 at the lower of cost and net realizable value. &amp;#160;For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 are to 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 ASU 2015-11, 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-left: 48.0px;margin-bottom:12.0px;text-indent:96.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Leases: &lt;/b&gt;&lt;/i&gt;In February 2016, the FASB issued Accounting Standards Update No. 2016-02, "Leases (Topic 842)". ASU 2016-02 will apply to both types of leases -&amp;#160;capital (or finance) leases and operating leases. According to the new Accounting Standard, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with term of more than 12 months. ASU 2016 -&amp;#160;02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The Company is currently assessing the impact that adopting this new accounting guidance will have on its consolidated financial statements and footnotes disclosures.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:96.0px;"&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;z)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Recent accounting pronouncements -&amp;#160;not yet adopted:&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Revenue from Contracts with Customers (Topic 606)&lt;/b&gt;&lt;/i&gt;: On May 28, 2014, the FASB issued Accounting Standards Update (&amp;#147;ASU&amp;#148;) 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 (Topic 606)&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-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Presentation of Financial Statements - Going Concern:&lt;/b&gt;&lt;/i&gt; In August 2014, the FASB issued ASU 2014-15, &lt;i&gt;Presentation of Financial Statements - Going Concern&lt;/i&gt;. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date when financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. The guidance is effective for annual periods ending after December&amp;#160;15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this ASU is not expected to have a material effect on the Company's consolidated financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 FASB issued ASU No. 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 existing 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-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Consolidation (Topic 810) - Amendments to the Consolidation Analysis:&lt;/b&gt;&lt;/i&gt; In February&amp;#160;2015, the FASB issued ASU 2015-02, &amp;#147;Consolidation (Topic 810) - Amendments to the Consolidation Analysis&amp;#148;, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December&amp;#160;15, 2015. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption of ASU 2015-02 on the consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. 2015-10, &lt;i&gt;Technical Corrections and Improvements. &lt;/i&gt;The amendments in ASU 2015-10 cover a wide range of Topics in the ASC. The amendments in this update 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 ASU 2015-10, 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 ASU 2015-10. The amendments that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, and early adoption of those amendments is permitted, including adoption in an interim period. While the Company has not yet adopted the amendments of ASU 2015-10 that require transition guidance, their adoption is not expected to have a material effect on the Company's financial statements and accompanying notes. &amp;#160;All other amendments were effective upon the issuance of ASU 2015-10. The adoption of those amendments has not had a material effect on the Company's financial statements and accompanying notes. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Simplifying the Measurement of Inventory:&lt;/b&gt; &lt;/i&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;. ASC 330, &amp;#147;Inventory&amp;#148;, 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 ASU 2015-11 require an entity to measure inventory within the scope of ASU 2015-11 at the lower of cost and net realizable value. &amp;#160;For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 are to 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 ASU 2015-11, 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-left: 48.0px;margin-bottom:12.0px;text-indent:96.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Leases: &lt;/b&gt;&lt;/i&gt;In February 2016, the FASB issued Accounting Standards Update No. 2016-02, "Leases (Topic 842)". ASU 2016-02 will apply to both types of leases -&amp;#160;capital (or finance) leases and operating leases. According to the new Accounting Standard, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with term of more than 12 months. ASU 2016 -&amp;#160;02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The Company is currently assessing the impact that adopting this new accounting guidance will have on its consolidated financial statements and footnotes disclosures.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:96.0px;"&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;3.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Transactions with Related Parties:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;margin-top:8.0px;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-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:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Balance Sheet&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&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:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates (d)&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;&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:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;241&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:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Product Shipping &amp;amp; Trading S.A (f)&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;245&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;&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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,209&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:456px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top: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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top: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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; 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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&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: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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&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:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Interchart Shipping Inc. (a)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Combine Marine Ltd (c)&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:justify;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:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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: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:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates (d)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Management and Directors Fees (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;462 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Managed Vessels of Oceanbulk Shipping LLC (e )&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Sellers (Note 17.2) &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:justify;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,689&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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;50&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;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:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,166&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;422&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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: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="middle" rowspan="2" style=" border:solid #000000 0.0px;width:450px;height:16px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&amp;#160;&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:59px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:450px;height:16px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;current portion (h) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;8,168&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:450px;height:16px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;non current portion (h) &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;&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;47,993&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:450px;height:16px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total Excel Vessel Bridge Facility&lt;/b&gt;&lt;/font&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:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;56,161&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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/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-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:450px;height:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Advances for vessels under construction and acquisition of vessels&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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (d)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,038&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,318&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Statements of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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:22px;"&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:53px;"&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: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:22px;"&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:57px;"&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: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:22px;"&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:57px;"&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:358px;height:16px;"&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: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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;2013&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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;2014&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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Commission on sale of vessel-Oceanbulk (d)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(90) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Executive directors consultancy fees (b)&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;&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(528) &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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(1,516) &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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(633) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(160) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
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    &lt;td valign="middle" 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="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(41) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" 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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(42) &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(35) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(773) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(1,997) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(3,350) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(158) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(35) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(451) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
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    &lt;td valign="middle" 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: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="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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:22px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(1,659) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" 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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(220) &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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee income - Oceanbulk Maritime S.A. (d)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;188 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee income - Managed Vessels of Oceanbulk Shipping LLC (e )&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;823 &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,390 &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee income Product Shipping &amp;amp; Trading S.A. (f)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;242 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;62 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/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-top:8.0px;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-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(a)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Interchart Shipping Inc. or Interchart: &lt;/b&gt;On February 25, 2014, the Company acquired 33% of the total outstanding common stock of Interchart for total consideration of $200 in cash and 22,598 of the Company's common shares. The common shares were issued on April&amp;#160;1, 2014, and the fair value per share of $14.51 was determined by reference to the per share closing price of the Company's common shares on the issuance date. The ownership interest was purchased from an entity affiliated with family members of Company's Chief Executive Officer, including the Company's former director Mrs. Milena-Maria Pappas. This transaction is accounted for as an equity method investment.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February 25, 2014, the Company also entered into a services agreement (the &amp;#147;Services Agreement&amp;#148;) with Interchart, for chartering, brokering and commercial services for all the Company's vessels for an annual fee of &amp;#128;500,000 ($545, using the exchange rate as of December 31, 2015, which was $1.09 per euro). This fee is adjustable for changes in the Company's fleet pursuant to the terms of the Services Agreement. Before the Services Agreement, Interchart acted as chartering broker of all the Company's vessels on an agreed upon basis. Under the Services Agreement, all previously agreed upon brokerage commissions due to Interchart were cancelled retroactively from January 1, 2014.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In November 2014, the Company entered into a new services agreement with Interchart for chartering, brokering and commercial services for all of the Company's vessels for a monthly fee of $275, with a term until March 31, 2015, which upon expiry was immediately renewed until December 31, 2016. The agreement is effective from October 1, 2014, and on the same date the previous agreement dated February 25, 2014, was terminated.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During the years ended December 31, 2013, 2014 and 2015 the brokerage commissions charged by Interchart were $773, $1,997 and $3,350, respectively, and are included in &amp;#147;Voyage expenses&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had outstanding payables of $6 and $8, respectively, to Interchart.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(b)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Management and Directors Fees: &lt;/b&gt;During 2011 the Company entered into consulting agreements with companies owned and controlled by each of the then Chief Executive Officer, Chief Financial Officer and Chief Operating Officer. These agreements had a term of three years unless terminated earlier in accordance with their terms, except for the consultancy agreement with the entity controlled by the Company's then Chief Operating Officer which provided for an indefinite term (terminable by either party with one month's notice). In addition, on May 3, 2013, the Company entered into separate renewal consulting agreements with the companies controlled by the Company's then Chief Executive Officer and Chief Financial Officer. Additionally, pursuant to the aforementioned agreements, the entities controlled by the Company's then Chief Executive Officer and Chief Financial Officer were entitled to receive an annual discretionary bonus, as determined by the Company's Board of Directors in its sole discretion. Finally, the entity controlled by the then Chief Executive Officer was entitled to receive a minimum guaranteed incentive award of 28,000 shares of common stock. These shares vested in three equal annual installments, the first installment of 9,333 shares vested on February 7, 2012, the second installment of 9,333 shares vested on February 7, 2013 and the last installment of 9,334 shares vested on February 7, 2014. The minimum guaranteed incentive award of 28,000 shares of the Company's stock was also renewed as part of the renewal of the consultancy agreement incurred between the Company and the company controlled by the former Chief Executive Officer with the new shares vesting in three equal annual installments, the first installment of 9,333 shares would vest on May 3, 2014, the second installment of 9,333 shares vested on May 3, 2015 and the last installment of 9,334 shares would vest on May 3, 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In connection with the July 2014 Transactions, the Company's former Chief Executive Officer resigned as Chief Executive Officer and remains with the Company as Non-Executive Chairman. On July 31, 2014, the Company entered into an agreement to terminate the consultancy agreement with the company owned by the former Chief Executive Officer and made a severance payment of &amp;#128;664,000 (approximately $891, using the exchange rate as of July 31, 2015, which was $1.34 per euro) of cash and 168,842 common shares, which were issued on the same date. As a result of the termination agreement, the second and the third installments of the former Chief Executive Officer's minimum guaranteed incentive award, under his renewed consultancy agreement, of 9,333 and 9,334, which would have been vested on May 3, 2015 and 2016, respectively, were cancelled. In addition, in connection with the July 2014 Transactions, the then Chief Operating Officer of the Company was appointed as Company's Executive Vice President-Technical.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Following the completion of the Merger, on December 17, 2014, the Company entered into consulting agreements with companies owned and controlled by each one of the new Chief Operating Officer and the new co-Chief Financial Officer. These agreements have a term of three years unless terminated earlier in accordance with their terms. Pursuant to the corresponding agreements, the entities controlled by the new Chief Operating Officer and the new co-Chief Financial Officer are entitled to receive an annual discretionary bonus, as determined by the Company's Board of Directors in its sole discretion. On May 19, 2015, the Company entered into an addendum to the consultancy agreements with the companies owned and controlled by each one of the new Chief Operating Officer and the co-Chief Financial Officers, amending the consultancy fee payable by the Company, effective as of January 1, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pursuant to all aforementioned agreements, effective as of December 31, 2015, the Company is required to pay an aggregate base fee at an annual rate of not less than $629 (this amount is the sum of all consulting fees in USD and Euro, using the exchange rate as of December 31, 2015, which was $1.09 per euro), under the relevant consultancy agreements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The expenses related to the Company's executive officers for the years ended December 31, 2013, 2014 and 2015, including the severance cash payment in 2014 to the Company's former Chief Executive Officer were $528, $1,516 and $633, respectively, and are included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations. The related expenses of non-executive directors for the years ended December 31, 2013, 2014 and 2015 were $114, $191 and $160, respectively, and are included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations. As of December&amp;#160;31, 2014 and 2015, the Company had outstanding payables of $462 and $315, respectively, to its executive officers and directors and non-executive directors, representing unpaid consulting fees and unpaid fees for their participation in the Company's Board of Directors and other special committees.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;b&gt;(c)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Combine Marine Ltd.: &lt;/b&gt;On January 1, 2012, Starbulk S.A., entered into a one year lease agreement for office space with Combine Marine Ltd., a company controlled by one of the then Company's directors, Mrs. Milena - Maria Pappas and by Mr. Alexandros Pappas, both of whom are children of Mr. Petros Pappas, the Company's current Chief Executive Officer and then Company's Chairman. The lease agreement provides for a monthly rental of &amp;#128;2,500 (approximately $3, using the exchange rate as of December 31, 2015, which was $1.09 per euro). On January 1, 2013, the agreement was renewed, and, unless terminated by either party, it will expire in January 2024. The related rent expense for the years ended December 31, 2013, 2014 and 2015 was $41, $42 and $35, respectively, and is included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had outstanding receivables of $0 and $9, respectively, from Combine Marine Ltd.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(d)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Oceanbulk Maritime S.A.: &lt;/b&gt;Oceanbulk Maritime S.A. (&amp;#147;Oceanbulk Maritime&amp;#148;) is a ship management company controlled by the Company's former director Mrs. Milena-Maria Pappas. During the years ended December 31, 2013, 2014 and 2015, the Company paid to Oceanbulk Maritime a brokerage commission of $90, $0 and $0 relating to the sale of certain of its vessels.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On November 25, 2013, the Company's Board of Directors approved a commission payable to Oceanbulk Maritime with respect to its involvement in the negotiations with the shipyards for nine of the Company's contracted newbuilding vessels (Note 6). The agreement provides for a commission of 0.5% of the shipbuilding contract price for two newbuilding Capesize vessels (HN 1338 (tbn &lt;i&gt;Star Aries&lt;/i&gt;) and HN 1339 (&lt;i&gt;Star Taurus&lt;/i&gt;)) and three newbuilding Newcastlemax vessels (HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;), HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;) and HN NE 198 (tbn &lt;i&gt;Star Poseidon&lt;/i&gt;)) and a flat fee of $200 per vessel for four newbuilding Ultramax vessels &lt;i&gt;Star Aquarius &lt;/i&gt;(ex-HN 5040), &lt;i&gt;Star Pisces &lt;/i&gt;(ex-HN 5043), &lt;i&gt;Star Antares &lt;/i&gt;(ex-HN NE 196) and HN NE 197 (tbn &lt;i&gt;Star Lutas&lt;/i&gt;)), for a total commission of $2,077. The Company agreed to pay the commission in four equal installments. The first two installments were paid in cash, while the remaining two installments will be paid in the form of common shares, the number of which will depend on the price of the Company's common shares on the date of the two remaining installments. The first and the second installments of $519, each, were paid in cash in December 2013 and in April 2014, respectively. On October 28, 2015, the Company issued 171,171 shares representing the third installment, the fair value per share was determined by reference to the per share closing price of the Company's common shares on the issuance date. An amount of $1,038 and $280 was capitalized to &amp;#147;Advances for vessel under construction and acquisition of vessels&amp;#148; during the years ended December 31, 2014 and 2015, respectively. The last installment is due in April 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 22, 2014, Starbulk S.A. entered into an agreement with Oceanbulk Maritime, under which certain management services, including crewing, purchasing, arranging insurance, vessel telecommunications and master general accounts supervision, were provided to certain dry bulk vessels under the management of Oceanbulk Maritime up to December 31, 2014. Pursuant to the terms of this agreement, Starbulk S.A. received a fixed management fee of $0.17 per day, per vessel, which as of June 1, 2014, was changed to $0.11 per day, per vessel, based on an addendum signed on May 22, 2014. The related income for the year ended December 31, 2014, was $188 and was included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, prior to the Merger, Oceanbulk and the Pappas Companies had entered into a management agreement with Oceanbulk Maritime and its affiliates pursuant to which Oceanbulk Maritime provided commercial and administrative services to Oceanbulk and the Pappas Companies. Following the completion of the Merger on July 11, 2014, this management agreement with Oceanbulk Maritime was terminated. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Further, following the completion of the Merger and the Pappas Transaction, the Company owns the vessels &lt;i&gt;Magnum Opus&lt;/i&gt; and &lt;i&gt;Tsu Ebisu&lt;/i&gt;, which were managed by Oceanbulk Maritime prior to the Merger and continued to be managed by Oceanbulk Maritime after the Merger, until September and August 2014, respectively. The related expense for the year ended December 31, 2014, was $158 and is included under &amp;#147;Management fee expense&amp;#148; in the accompanying consolidated statement of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime provided performance guarantees under the bareboat charter agreements relating to the shipbuilding contracts for the vessels &lt;i&gt;Roberta &lt;/i&gt;(ex-HN 1061), &lt;i&gt;Laura &lt;/i&gt;(ex-HN 1062), &lt;i&gt;Idee Fixe&lt;/i&gt; (ex-HN 1063) and &lt;i&gt;Kaley (&lt;/i&gt;ex-HN 1064). Such performance guarantees had been counter-guaranteed by Oceanbulk Carriers. Following the completion of the Merger, in September, 2014, Star Bulk provided counter-guarantees to Oceanbulk Maritime S.A. in exchange for the counter-guarantees provided by Oceanbulk Carriers. The vessels were delivered to the Company in 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, Oceanbulk Maritime also provided performance guarantees under the shipbuilding contracts for the vessels &lt;i&gt;Deep Blue &lt;/i&gt;(ex-HN 5017), HN 5055-JMU (tbn &lt;i&gt;Behemoth&lt;/i&gt;), HN 5056-JMU (tbn &lt;i&gt;Megalodon&lt;/i&gt;), &lt;i&gt;Honey Badger &lt;/i&gt;(ex-HN NE 164), &lt;i&gt;Wolverine &lt;/i&gt;(ex-HN NE 165), &lt;i&gt;Gargantua &lt;/i&gt;(ex-HN NE 166), &lt;i&gt;Goliath &lt;/i&gt;(ex-HN NE 167) and &lt;i&gt;Maharaj &lt;/i&gt;(ex-HN NE 184). Prior to the Merger, all of the performance guarantees were counter-guaranteed by Oceanbulk Shipping. Following the completion of the Merger, on September 20, 2014 Star Bulk provided counter-guarantees to Oceanbulk Maritime in exchange for the counter-guarantees provided by Oceanbulk Shipping. These vessels were delivered to the Company in early 2016 at which time the aforementioned guarantees terminated. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As of December 31, 2014 and 2015, the Company had outstanding receivables of $241 and $1,209 from Oceanbulk Maritime and its affiliates, respectively. The outstanding balance as of December 31, 2015 includes an amount of $850, which represents supervision cost for certain newbuilding vessels managed by Oceanbulk Maritime and paid by the Company. In addition, as of December 31, 2015 the Company had an outstanding payable of $33 to Oceanbulk Maritime and its affiliates. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(e)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Managed vessels of Oceanbulk Shipping:&lt;/b&gt; Prior to the Merger,&lt;b&gt; &lt;/b&gt;Starbulk S.A. had entered into vessel management agreements with certain ship-owning companies owned and controlled by Oceanbulk Shipping (Note 1). Pursuant to the terms of these agreements, Starbulk S.A. received a fixed management fee of $0.75 per day, per vessel. These management agreements were terminated on July 11, 2014, the date the Merger closed. The related income for the years ended December 31, 2013 and 2014, was $823 and $1,390, respectively, and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had an outstanding payable of $9 and $7, respectively, to Maiden Voyage LLC, previous owner of the vessel &lt;i&gt;Maiden Voyage, &lt;/i&gt;one of the vessels of Oceanbulk Shipping&lt;i&gt;.&lt;/i&gt; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(f)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Product Shipping &amp;amp; Trading S.A.: &lt;/b&gt;Product Shipping &amp;amp; Trading S.A. is an entity controlled by family members of the Company's ex-Chairman and current Chief Executive Officer, Mr. Petros Pappas. On June 7, 2013, Starbulk S.A. entered into an agreement with Product Shipping &amp;amp; Trading S.A., under which the Company provided certain management services including crewing, purchasing and arranging insurance to the vessels under the management of Product Shipping &amp;amp; Trading S.A. Pursuant to the terms of this agreement, Starbulk S.A. received a fixed management fee of $0.13 per day, per vessel. In October, 2013 the Company decided to gradually cease providing the above mentioned services to the vessels managed by Product Shipping &amp;amp; Trading S.A., except for arranging insurance services, and as a result, the management fee decreased to $0.02 per day, per vessel, and effective July 1, 2014, the agreement was terminated. The related income for the years ended December 31, 2013 and 2014 was $242 and $62, respectively, and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statement of operations. As of December 31, 2014 and 2015, the Company had outstanding receivables of $4 and $0, respectively, from Product Shipping &amp;amp; Trading S.A.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(g)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Oaktree Shareholder Agreement&lt;/b&gt;: As a result of the Merger, on July 11, 2014, Oaktree became the beneficial owner of approximately 61.3% of the Company's then outstanding common shares. At the closing of the July 2014 Transactions, the Company and Oaktree entered into a shareholders agreement (the &amp;#147;Oaktree Shareholders Agreement&amp;#148;). Under the Oaktree Shareholders Agreement, Oaktree has the right to nominate four of the Company's nine directors so long as it beneficially owns 40% or more of the Company's outstanding voting securities. The number of directors able to be designated by Oaktree is reduced to three directors if Oaktree beneficially owns 25% or more but less than 40% of the Company's outstanding voting securities, to two directors if Oaktree beneficially owns 15% or more but less than 25%, and to one director if Oaktree beneficially owns 5% or more but less than 15%. Oaktree's designation rights terminate if it beneficially owns less than 5% of the Company's outstanding voting securities. Therefore, in July&amp;#160;2014 and in connection with the July 2014 Transactions, the Company's Board of Directors, increased the number of directors constituting the Board of Directors to nine and, following the resignation of Mrs. Milena - Maria Pappas, appointed Mr. Rajath Shourie, Ms. Emily Stephens, Ms. Ren&amp;#233;e Kemp and Mr. Stelios Zavvos as directors. Following these changes in the composition of the Board of Directors, the four individuals designated by Oaktree to be Company's directors were Messrs. Pappas and Shourie and Mses. Stephens and Kemp in accordance with the provisions of the Oaktree Shareholders Agreement. On February 17, 2015, Mr. Shourie and Ms. Stephens were replaced by Mr. Mahesh Balakrishnan and Ms. Jennifer Box, respectively. As further disclosed in Note 20, on March 14, 2016, Ms. Ren&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#222222; "&gt;&amp;#233;&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;e Kemp stepped down from the Company's Board of Directors. The three directors currently designated by Oaktree are Messrs. Pappas and Balakrishnan and Ms. Box, while Oaktree retains the right to name an additional director under the Oaktree Shareholders Agreement. Under the Oaktree Shareholders Agreement, with certain limited exceptions, Oaktree effectively cannot vote more than 33% of the Company's outstanding common shares (subject to adjustment under certain circumstances).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(h)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Excel Transactions: &lt;/b&gt;As discussed in detail in Note 1, on August 19, 2014, the Company entered into the Excel Transactions. The principal shareholders of Excel are Oaktree and Angelo Gordon, none of which though, on its own, is deemed to have control on Excel's strategy and operations either by means of holding equity interests, control of Excel's board of directors or other type of arrangement indicating a parent-subsidiary relationship. Therefore the Company concluded that the Excel Transactions were not transactions under common control. Nevertheless, due to Oaktree's relationship with the Company and the relationship of Oaktree to Excel, the Company concluded that the Excel Transactions, including the acquisition of the Excel Vessels and the conclusion of the Excel Vessel Bridge Facility (Note 8), should be treated as related party transactions for purposes of its financial statements presentation and disclosure. The Excel Vessel Bridge Facility was fully repaid in January 2015. Interest expense incurred for the years ended December 31, 2014 and 2015, amounted to $1,659 and $220, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(i)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Acquisition of Heron Vessels: &lt;/b&gt;Following the completion of the Merger, pursuant to the provisions of the Merger Agreement relating to the Heron Vessels, and in accordance with the agreement among Oceanbulk Shipping, ABY Group and Heron, dated September 5, 2014, with respect to the conversion of the Heron Convertible Loan, the governance of Heron and the distribution of some of its vessels to its investors, as further discussed in Note 1, on November 11, 2014, the Company entered into two separate agreements to acquire from Heron the vessels &lt;i&gt;Star Gwyneth (ex-ABYO Gwyneth&lt;/i&gt;) and &lt;i&gt;Star Angelina (ex-ABYO Angelina)&lt;/i&gt;, which were delivered to the Company on December 5, 2014 (Note 5).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:5.0px;text-indent:-41.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(j)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Management agreement with Maryville Maritime Inc.&lt;/b&gt;: Three of the Excel Vessels (&lt;i&gt;Star Martha (ex Christine)&lt;/i&gt;, &lt;i&gt;Star Pauline (ex Sandra)&lt;/i&gt; and &lt;i&gt;Star Despoina (ex Lowlands Beilun)&lt;/i&gt;, which were acquired with attached time charters, were managed by Maryville Maritime Inc. (&amp;#147;Maryville&amp;#148;), a subsidiary of Excel. As described in Note 3.h above, due to Oaktree's relationship with Excel, the Company concluded that the management agreement with Maryville should be treated as a related party transaction for purposes of its financial statements presentation and disclosure. Maryville managed two of the vessels until August 2015 and one until November 2015, when each of their existing time charters expired. The Company paid Maryville a monthly fee of $17.5 per vessel. Total management fee expense to Maryville for the years ended December 31, 2014 and 2015 was $35 and $451, respectively and is included in &amp;#147;Management fees&amp;#148; in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock 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:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Balance Sheet&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates (d)&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;&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:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;241&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:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Product Shipping &amp;amp; Trading S.A (f)&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;245&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;&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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,209&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:456px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top: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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top: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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; 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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&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: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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&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:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Interchart Shipping Inc. (a)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Combine Marine Ltd (c)&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:justify;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:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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: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:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates (d)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Management and Directors Fees (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;462 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Managed Vessels of Oceanbulk Shipping LLC (e )&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Oceanbulk Sellers (Note 17.2) &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:justify;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,689&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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;50&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;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:63px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,166&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;422&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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: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="middle" rowspan="2" style=" border:solid #000000 0.0px;width:450px;height:16px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&amp;#160;&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:59px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:450px;height:16px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;current portion (h) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;8,168&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:450px;height:16px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;non current portion (h) &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;&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;47,993&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:450px;height:16px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total Excel Vessel Bridge Facility&lt;/b&gt;&lt;/font&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:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;56,161&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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:59px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/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-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:450px;height:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Advances for vessels under construction and acquisition of vessels&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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (d)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,038&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,318&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Statements of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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:22px;"&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:53px;"&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: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:22px;"&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:57px;"&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: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:22px;"&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:57px;"&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:358px;height:16px;"&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: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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;2013&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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;2014&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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Commission on sale of vessel-Oceanbulk (d)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(90) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Executive directors consultancy fees (b)&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;&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(528) &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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(1,516) &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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(633) &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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Non-executive directors compensation (b)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(114) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(191) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Office rent - Combine Marine Ltd. (c )&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;&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(41) &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(42) &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(35) &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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Voyage expenses-Interchart (a)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(773) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(1,997) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(3,350) &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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee expense - Oceanbulk Maritime S.A. (d)&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;&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(158) &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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee expense - Maryville Maritime Inc. (j)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(35) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(451) &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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Interest on Excel Vessel Bridge Facility (h)&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;&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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:22px;"&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:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(1,659) &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(220) &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:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee income - Oceanbulk Maritime S.A. (d)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;188 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee income - Managed Vessels of Oceanbulk Shipping LLC (e )&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;&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;823 &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,390 &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: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="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Management fee income Product Shipping &amp;amp; Trading S.A. (f)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:53px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;242 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;62 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="FYp0YTD">&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;13.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Equity Incentive Plans:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 21, 2013, the Company's Board of Directors adopted the 2013 Equity Incentive Plan and reserved for issuance 240,000 common shares thereunder. The Plan is designed to provide certain key persons, whose initiative and efforts are deemed to be important to the successful conduct of the business of the Company with incentives to enter into and remain in the service of the Company, acquire an interest in the success of the Company, maximize their performance and enhance the long-term performance of the Company. As of December 31, 2014, all of the respective shares have been granted and vested.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 21, 2013, 239,333 restricted common shares were granted to certain directors, officers, employees of the Company, the respective shares were issued on September 11, 2013, and vested on March 21, 2014. Additionally, on March 21, 2013, 12,000 restricted common shares were granted to a Company's former director, the respective shares vested immediately and were issued on June 27, 2013. The fair value of each share was $6.46 and was determined by reference to the closing price of the Company's common stock on the grant date.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February 20, 2014, the Company's Board of Directors adopted the 2014 Equity Incentive Plan (the &amp;#147;2014 Plan&amp;#148;) and reserved for issuance 430,000 common shares thereunder. The terms and conditions of the 2014 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February 20, 2014, 394,167 restricted common shares were granted to certain directors, officers and employees of the Company, which will vest on March 20, 2015. Additionally, on February 20, 2014, 8,000 restricted common shares were granted to certain directors of the Company, which vested immediately. The fair value of each share was $10.86, based on the closing price of the Company's common shares on the grant date. The shares were issued in May 2014 along with 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 (Note 3).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On August 4, 2014, the Company issued an aggregate of 168,842 common shares to its former Chief Executive Officer and current Non-Executive Chairman, in accordance with the terms of an agreement to terminate his consultancy agreement, effective July 31, 2014 (Note 3). The fair value of each share was $10.71, based on the closing price of the Company's common stock on the grant date, the date of the release agreement. In addition, as a result of the termination agreement, the second and the third installments of his minimum guaranteed incentive award under his consultancy agreement of 9,333 and 9,334, which would vest on May 3, 2015 and 2016, respectively, were cancelled (Note 3).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July 11, 2014, 15,000 common shares were granted to two of the Company's directors and vested on the same date. The Company plans to issue the respective shares in 2016. The fair value of each share was $12.03, based on 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. The terms and conditions of the 2015 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, on April 13, 2015, the Company granted 676,150 restricted common shares 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt; 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;ul&gt;
	&lt;li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Option type:&lt;/i&gt; Bermudan call option&lt;/font&gt;&lt;/li&gt;
	&lt;li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Grant Date: &lt;/i&gt;April 13, 2015 &lt;/font&gt;&lt;/li&gt;
	&lt;li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;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;/li&gt;
	&lt;li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;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;/li&gt;
	&lt;li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;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 that for purposes of this calculation the Company is not expected to pay dividends before the expiration of the share options.&lt;/font&gt;&lt;/li&gt;
	&lt;li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;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, and no dilution adjustment was incorporated in the valuation model.&lt;/font&gt;&lt;/li&gt;
	&lt;li type="square" style="text-align: justify;margin-bottom:6.0px;font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;font style="font-family:Calibri;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 expected to be 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;/li&gt;
&lt;/ul&gt;&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;All non-vested shares and options vest according to the terms and conditions of the applicable award agreements. 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. For the years ended December 31, 2013, 2014 and 2015, the Company paid no dividends on non-vested shares.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company expects that there will be no forfeitures of non-vested shares or options. The shares which are issued in accordance with the terms of the Company's equity incentive plans or awards remain restricted until they vest. For the years ended December 31, 2013, 2014 and 2015, the stock based compensation cost was $1,488, $5,834 and $2,684, respectively, and is included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;A summary of the status of the Company's non-vested restricted shares as of December 31, 2013, 2014 and 2015, and the movement during these years is presented below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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:360px;height:46px;"&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: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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:22px;"&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:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width: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:solid #000000 0.0px;width:72px;"&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:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:108px;"&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:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2013&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;279,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;6.43&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vested&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(21,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;19.71&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;7.46&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&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:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;7.46&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;586,009&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.85&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vested&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(449,842&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;8.94&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Cancelation of shares due to termination agreement with former CEO&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: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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border: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:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;6.2&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2014&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.86&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&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:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2015&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.86&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vested&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.86&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2015&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;A summary of the status of the Company's non-vested share options as of December 31, 2015, and the movement during the year, since granted, is presented below&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;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:244px;height:31px;"&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-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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Shares&lt;/b&gt;&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-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:126px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Weighted&amp;#160;average exercise price&lt;/b&gt;&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-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:127px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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="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:244px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Options&lt;/b&gt;&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:127px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:244px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Outstanding at January 1, 2015&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;&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:127px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;5.5&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:127px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1.4121&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Outstanding as of December 31, 2015&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:17px;"&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;521,250&lt;/b&gt;&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-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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;5.5&lt;/b&gt;&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-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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:127px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;1.4121&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 $630 and $680, respectively, as of December 31, 2015 and is expected to be recognized over the weighted average period of 4.29 years and 0.28 years, respectively. The total fair value of shares vested during the years ended December 31, 2013, 2014 and 2015 was $136, $5,773 and $1,301, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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-align:justify;margin-top:8.0px;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-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock 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:244px;height:31px;"&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-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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Shares&lt;/b&gt;&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-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:126px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Weighted&amp;#160;average exercise price&lt;/b&gt;&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-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:127px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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="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:244px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Options&lt;/b&gt;&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:127px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:244px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Outstanding at January 1, 2015&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;&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:127px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;5.5&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:127px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1.4121&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Outstanding as of December 31, 2015&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:17px;"&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;521,250&lt;/b&gt;&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-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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:126px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;5.5&lt;/b&gt;&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-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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:127px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;1.4121&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:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock 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:360px;height:46px;"&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: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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:22px;"&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:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width: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:solid #000000 0.0px;width:72px;"&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:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:108px;"&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:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2013&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;279,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;6.43&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vested&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(21,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;19.71&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;7.46&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&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:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;7.46&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;586,009&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.85&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vested&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(449,842&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;8.94&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Cancelation of shares due to termination agreement with former CEO&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: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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border: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:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;6.2&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2014&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.86&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom: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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&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:72px;"&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:52px;"&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:108px;"&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:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2015&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.86&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Granted&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vested&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10.86&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2015&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:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"&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:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock>
  <us-gaap:SubsequentEventsTextBlock contextRef="FYp0YTD">&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;20.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subsequent Events:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Sale of Vessels&lt;/b&gt;: In 2015, as further discussed in Note 5, the Company entered into various separate agreements with third parties to sell certain of the Company's operating vessels (&lt;i&gt;Indomitable&lt;/i&gt;, &lt;i&gt;Magnum Opus&lt;/i&gt;, &lt;i&gt;Tsu Ebisu&lt;/i&gt; and &lt;i&gt;Deep Blue&lt;/i&gt;). In addition, in 2015, as further discussed in Note 6, the Company entered into various separate agreements with third parties to sell upon their delivery from the shipyards the newbuilding vessels &lt;i&gt;Behemoth&lt;/i&gt;, &lt;i&gt;Bruno Marks&lt;/i&gt;, &lt;i&gt;Jenmark&lt;/i&gt;, &lt;i&gt;Star Aries&lt;/i&gt; and &lt;i&gt;Star Taurus&lt;/i&gt;. In early 2016, the Company entered into various separate agreements with third parties to sell the operating vessel &lt;i&gt;Obelix&lt;/i&gt; and the newbuilding vessel &lt;i&gt;Megalodon&lt;/i&gt; (ex-HN 5056) upon its delivery from the shipyard. The net book value of these operating and newbuilding vessels as of December 31, 2015, was $176,336. The delivery dates of these vessels are discussed below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"&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-align:justify;margin-left: 96.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Operating Vessels:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;i.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February 3, 2016, the vessel &lt;i&gt;Tsu Ebisu&lt;/i&gt; was delivered to its new owners.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;ii.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 2, 2016, the vessel &lt;i&gt;Magnum Opus&lt;/i&gt; was delivered to its new owners.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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-left: 96.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In connection with the sale of &lt;i&gt;Tsu Ebisu&lt;/i&gt; and &lt;i&gt;Magnum Opus&lt;/i&gt;, the Company repaid $17,550 and $18,000, respectively, under their corresponding facilities as discussed in Note 8.&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;iii.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 18, 2016, the vessel Deep Blue was delivered to its new owners, and the DVB $31,000 facility was fully repaid.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Newbuildings:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;i.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January 7, 2016, the Company took delivery of and delivered to its new owners &lt;i&gt;Behemoth&lt;/i&gt; (ex-HN 5055), a 182,000 dwt Capesize bulk carrier built by JMU.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;ii.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January 11, 2016, the Company took delivery of &lt;i&gt;Bruno Marks&lt;/i&gt; (ex-HN 1312), a 182,000 dwt Capesize bulk carrier built by SWS. On January 15, 2016, &lt;i&gt;Bruno Marks&lt;/i&gt; was delivered to its new owners.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;iii.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January 26, 2016, the Company took delivery of and delivered to its new owners &lt;i&gt;Megalodon&lt;/i&gt; (ex-HN 5056), a 182,000 dwt Capesize bulk carrier built by JMU.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;iv.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February 29, 2016, the Company took delivery of and delivered to its new owners &lt;i&gt;Star Aries&lt;/i&gt; (ex-HN 1338), a 180,000 dwt Capesize bulk carrier built by SWS.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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;&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="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:582px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Delivery of newbuilding vessels:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;i.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January 6, 2016, the Company took delivery of &lt;i&gt;Star Lutas&lt;/i&gt; (ex-HN NE 197), a 61,000 dwt Ultramax bulk carrier built by Nantong COSCO KHI-Ship Engineering Co. (&amp;#147;NACKS&amp;#148;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;ii.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January 8, 2016, the Company took delivery of &lt;i&gt;Kennadi&lt;/i&gt; (ex-HN 1080), a 64,000 dwt Ultramax bulk carrier built by New&amp;#160;Yangzijiang.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;iii.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February 26, 2016, the Company took delivery of &lt;i&gt;Star Poseidon&lt;/i&gt; (ex-HN NE 198), a 209,000 dwt Newcastlemax bulk carrier built by NACKS.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;iv.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 2, 2016, the Company took delivery of &lt;i&gt;Mackenzie&lt;/i&gt; (ex-HN 1081), a 64,000 dwt Ultramax bulk carrier built by New&amp;#160;Yangzijiang.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;v.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 11, 2016 the Company took delivery of &lt;i&gt;Star Marisa&lt;/i&gt; (ex-HN 1359), a 208,000 dwt Newcastlemax bulk carrier built by SWS.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;c)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Pool Agreement:&lt;/b&gt; In January 2016, the Company entered into a Capesize vessel pooling agreement (&amp;#147;CCL&amp;#148;)&amp;#160;with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD. The Company agreed to market nine of its Capesize dry bulk vessels, which had previously been operating in the spot market, as part of one combined CCL fleet. Together with the Company's nine vessels, the CCL fleet will initially consist&amp;#160;of 65 modern Capesize vessels and will be managed out of Singapore and Antwerp. Each vessel owner will continue to be responsible for the operating, accounting and technical management of its respective vessels. The Company expects to achieve improved scheduling ability through the joint marketing opportunity that CCL represents for its Capesize vessels, with the overall aim of enhancing economic efficiencies. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"&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="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;d)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:582px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Shipbuilding contract terminations:&lt;/b&gt; In February 2016, the Company agreed in principle with certain shipyards to terminate two shipbuilding contacts. The Company will have no future capital expenditure obligations on these vessels once definitive documentation is executed.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:582px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Commerzbank $120,000 Facility - Refinancing Amendment:&lt;/b&gt; In early 2016, the Company agreed in principle with Commerzbank to a refinancing amendment of the Commerzbank $120,000 Facility. Pursuant to this refinancing amendment, the Company agreed to (a) amend certain covenants governing this facility, (b) change the amortization schedule for this facility, and (c) extend the repayment date for the facility from October 2016 to October 2018. The Company expect that the documentation for this refinancing amendment will be finalized and executed in April 2016.&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;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" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:582px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Resignation of Director:&lt;/b&gt; On March 14, 2016, Ms. Ren&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#222222; "&gt;&amp;#233;e Kemp stepped down from the Company's Board of Directors.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:Calibri;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:SubsequentEventsTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;19.&lt;/b&gt;&amp;#160;&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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. 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. The same guidance requires that assets and liabilities carried at fair value should be classified and disclosed in one of the following three categories based on the inputs used to determine its fair value:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Level 1:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Quoted market prices in active markets for identical assets or liabilities;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Level 2:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Observable market based inputs or unobservable inputs that are corroborated by market data;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Level 3:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unobservable inputs that are not corroborated by market data.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, ASC 815, &amp;#147;&lt;i&gt;Derivatives and Hedging&lt;/i&gt;&amp;#148; requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company enters into interest rate derivative contracts 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In June 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 (Note 8c). The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the &lt;i&gt;Star Borealis &lt;/i&gt;and &lt;i&gt;Star Polaris &lt;/i&gt;tranches, respectively, of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were effective by November and August 2014, respectively, and mature in August and November 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 December 31, 2015, the notional amount of these swaps was $24,898 and $26,130, for the vessel &lt;i&gt;Star Borealis&lt;/i&gt; and the vessel &lt;i&gt;Star Polaris&lt;/i&gt;, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, on April 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 (Note 8f). The HSH Swaps came into effect in September 2014 and mature in September 2018. Under the terms of the HSH Swaps, the Company is paying 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 December 31, 2015, the notional amount of these swaps was $15,385.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Up to August 31, 2014, because the Credit Agricole Swaps and the HSH Swaps were not designated as accounting hedges, changes in their fair value at each reporting period up to that date, were reported in earnings as a loss under &amp;#147;Gain/ (Loss) on derivative financial instruments, net&amp;#148;. On August 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;. Since that date, the effective portion of these cash flow hedges is reported in &amp;#147;Accumulated other comprehensive income / (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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;). 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% to 2.07% per annum, based on an aggregate notional amount beginning at $186,307 on July 1, 2015, and increasing up to $461,264 on October 1, 2015. 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 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), was reported in &amp;#147;Accumulated other comprehensive income / (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 December 31, 2015 the notional amount of these swaps was $451,426.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 2015 whose loans had been designated as hedged items, the Company determined that 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. Consequently, the hedging relationship related to the Goldman Sachs Swaps no longer qualified 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 income / (loss)&amp;#148; with respect to the corresponding swaps 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 $1,793 related to loans of sold or expected to be sold vessels that were reclassified to earnings in the year ended December 31, 2015, since the forecasted transaction attributable to these vessels was no longer expected to occur. The unamortized balance of &amp;#147;Accumulated other comprehensive income / (loss)&amp;#148; with respect to the corresponding swaps as of December 31, 2015 was $1,261.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The amounts of Gain/ (Loss) on derivative financial instruments recognized in the accompanying consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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-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" rowspan="2" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:22px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&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:18px;"&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:22px;"&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:66px;"&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:27px;"&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:22px;"&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:66px;"&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-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;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&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;&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Gain/(loss) on derivative instruments, 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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&amp;#160;31, 2014)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;91 &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;&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(799&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,443 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" 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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(4,918&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:324px;height:44px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1,793&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Ineffective portion of cash flow hedges&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-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) on derivative instruments, 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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;91 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(799)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(3,268)&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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Interest and finance costs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&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:18px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&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: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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&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: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;&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:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(2,416&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) recognized&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;91 &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;&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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1,854)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(5,684)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;An amount of approximately ($578) 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In relation to the above interest rate swap agreements designated as cash flow hedges 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 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-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:199px;height:38px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="9" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:438px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&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="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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: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="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:200px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:199px;height:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&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;&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(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="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;ASSETS&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:90px;"&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: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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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="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:82px;"&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:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - asset position&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;LIABILITIES&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - liability position (current and non-current)&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width: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:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7,732 &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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7,642 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;807 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7,732 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;7,642 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;807 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:199px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:78px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:82px;"&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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of December 31, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The 8.00% 2019 Notes have a fixed rate, and their estimated fair value as of December 31, 2015, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), &amp;#160;is approximately $24,000 .&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Fair value on a nonrecurring basis&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As a result of the decline in charter rates and vessel values during the previous years and because market expectations for future rates were low and vessel values were unlikely to increase to the high levels of 2008, the Company reviewed, in 2013, 2014 and 2015 the recoverability of the carrying amount of its vessels. The impairment analysis for the year ended December 31, 2013 and 2014, indicated that the carrying amount of the Company's vessels was recoverable, and therefore, the Company concluded that no impairment charge was necessary. As further discussed in Note 5, the Company recognized an impairment loss of $321,978 for the year ended December 31, 2015, of which: &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(i) $17,815 relates to sold operating vessels that had been delivered to their purchasers as of December 31, 2015 or bareboat vessels that were reassigned to their owners during the year. The carrying value of these vessels was written down to the fair value as determined by reference to their agreed sale (or reassignment) prices less costs of sale. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(ii) &amp;#160;$201,585 relates to sold operating vessels and newbuildings in 2015 or in early 2016 that had not been delivered to their purchasers as of December 31, 2015. The carrying value of these vessels was written down to the fair value as determined by reference to their agreed sale prices less costs of sale.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(iii) &amp;#160;$102,578 relates to certain other operating vessels and newbuildings. Pursuant to its impairment analysis for the year ended December 31, 2015, the Company estimated that these operating vessels and newbuildings would have future undiscounted projected operating cash flows to be earned over their operating life less than their carrying value. In estimating the projected cash flows for these vessels, the Company took into consideration the possibility of their sale, to the extent that attractive sale prices are attainable. The carrying value of these vessels was written down to the fair value as determined by reference to the vessel valuations of independent shipbrokers (as of mid to late December 2015). &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The following table summarizes the valuation of these assets described under (ii) and (iii) above, measured at fair value on a non-recurring basis as of December 31, 2015. &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:236px;"&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:18px;"&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:6px;"&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-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:18px;"&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:6px;"&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:70px;"&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:18px;"&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:6px;"&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:75px;"&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:35px;"&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:6px;"&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:62px;"&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: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" colspan="14" style=" border:solid #000000 0.0px;width:673px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Fair Value Measurements Using&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:236px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Long-lived assets held and used&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Quoted Prices&lt;br/&gt;in Active&lt;br/&gt;Markets for&lt;br/&gt;Identical&lt;br/&gt;Assets&lt;br/&gt;(Level 1)&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant&lt;br/&gt;Other&lt;br/&gt;Observable&lt;br/&gt;Inputs&lt;br/&gt;(Level 2)&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant&lt;br/&gt;Unobservable&lt;br/&gt;Inputs&lt;br/&gt;(Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Impairment &lt;br/&gt;loss&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:236px;"&gt;&lt;div style="margin-left: 23.1px;text-indent:-10.7px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Vessels, net&lt;/i&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;#151;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;259,775&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;&amp;#160;&amp;#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:35px;"&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:6px;"&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:62px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;&amp;#160;145,631&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:236px;"&gt;&lt;div style="margin-left: 23.1px;text-indent:-10.7px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Advances for vessels under construction&lt;/i&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#151;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;36,152&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"&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:6px;"&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:62px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;158,532&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:236px;"&gt;&lt;div style="margin-left: 23.1px;text-indent:-10.7px;"&gt;&lt;font style="font-family:Calibri;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:18px;"&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:6px;"&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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#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;/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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;295,927&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#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;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"&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:6px;"&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:62px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;304,163&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;/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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, please refer to Note 1 for the fair value of assets acquired and liabilities assumed by the Company at the Merger and the Pappas Transaction on July&amp;#160;11, 2014, which was the acquisition date.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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-align:justify;margin-top:8.0px;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-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <sblk:VoyageVesselOperatingExpensesTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;18. &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Voyage and Vessel operating expenses: &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The amounts in the accompanying consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="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:268px;height:15px;"&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Voyage &amp;#160;expenses&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Port charges &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;5,132&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;17,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4,338&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33,146&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;48,535&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Commissions -&amp;#160;third parties &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;867&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,902&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,915&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Commissions -&amp;#160;related parties (Note 3)&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;773&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,997&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,350&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Miscellaneous&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;116&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;164&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;458&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total voyage expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7,549&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;42,341&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;72,877&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel operating expenses&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Crew wages and related costs &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;14,355&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;29,449&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;65,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Insurances&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,968&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4,561&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8,026&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Maintenance, repairs, spares and stores&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;5,772&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;9,415&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;18,577&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,339&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,901&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8,187&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Tonnage taxes&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;797&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,360&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,717&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Upgrading expenses&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;205&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,167&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6,205&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Miscellaneous&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;651&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;1,243&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,682&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total vessel operating expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;27,087&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;53,096&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;112,796&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</sblk:VoyageVesselOperatingExpensesTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;17. &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Commitments and Contingencies: &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;u&gt;Legal proceedings&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company's vessels. The Company's vessels are covered for pollution in the amount of $1 billion per vessel per incident, by the Protection and Indemnity (P&amp;amp;I) Association in which the Company's vessels are entered. The Company's vessels are subject to calls payable to their P&amp;amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. Such estimates are adjusted each year by the Board of Directors of the P&amp;amp;I Association until the closing of the relevant policy year, which generally occurs within three years from the end of the policy year. Supplemental calls, if any, are expensed when they are announced and according to the period they relate to. The Company is not aware of any supplemental calls in respect of any policy years other than those that have already been recorded in its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;a.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In 2010, the Company commenced arbitration proceedings against Ishhar Overseas FZE of Dubai (&amp;#147;Ishhar&amp;#148;) for repudiatory breach of the charter parties due to the nonpayment of charter hires related to &lt;i&gt;Star Epsilon&lt;/i&gt; and &lt;i&gt;Star Kappa&lt;/i&gt;. The Company sought damages for repudiations of the charter parties due to early redelivery of the vessels as well as unpaid hire of $1,949. The Company pursued an interim award for such nonpayment of charter hire and an award for the loss of charter hire for the remaining period under the charter. Claim submissions were filed. As of December 31, 2011, the Company determined that the above amount was not recoverable and recognized a provision for doubtful receivables of $1,949.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Subsequently, a conditional settlement agreement was signed on September&amp;#160;5, 2012, under which the Company agreed to receive a cash payment of $5,000 in seventeen monthly installments. The first installment of $500 was received upon the execution of the settlement agreement and the next sixteen monthly installments, varying between $250 and $500, were received on the last day of each month beginning from September 30, 2012 and ending on December 31, 2013.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During the year ended December 31, 2013, the Company received $2,500, under the settlement agreement, which is included under &amp;#147;Other operational gain&amp;#148; in the accompanying consolidated statement of operations for the year ended December 31, 2013 (Note 10).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;b.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In February 2011, Korea Line Corporation (&amp;#147;KLC&amp;#148;), charterer at the time of the vessels &lt;i&gt;Star Gamma&lt;/i&gt; and &lt;i&gt;Star Cosmo,&lt;/i&gt; commenced rehabilitation proceedings in Seoul, Korea. Under the rehabilitation plan approved by KLC's creditors on October 14, 2011, the Company was entitled to receive $6,839, of which 37% is to be paid in cash over a period of ten years and the remaining 63% would be converted into KLC's shares at a rate of one common share of KLC with par value of KRW 5,000 for each KRW 100,000 of claim. Based on the terms of the rehabilitation plan, the shares of KLC were restricted from trading for six months. In addition, the Company entered into a direct agreement with KLC and received $172 in October 2011 and $172 in January 2013, as part of the due hire for &lt;i&gt;Star Gamma&lt;/i&gt;. Finally, the Company entered into two tripartite agreements with KLC and the sub-charterers of the vessels &lt;i&gt;Star Gamma&lt;/i&gt; and &lt;i&gt;Star Cosmo&lt;/i&gt;, under which the Company received $86 from the &lt;i&gt;Star Gamma&lt;/i&gt; sub-charter in December 2011 and $121 in March 2012 from the &lt;i&gt;Star Cosmo&lt;/i&gt; sub-charterer. As of December 31, 2011, the Company determined that $498 of receivables were not recoverable due to the long term time period of KLC's rehabilitation plan and the uncertainty surrounding the continuation of KLC's operations and recognized a corresponding provision.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On November 19, 2012, the Company received 11,502 shares (46,007 shares before split) of KLC as part of the rehabilitation plan described above for the vessel &lt;i&gt;Star Gamma&lt;/i&gt;, which shares were sold the same date. The cash proceeds from the sale of the respective shares were $144. In December 2012, the Company also received $12 and $1 in cash, for &lt;i&gt;Star Gamma&lt;/i&gt; and &lt;i&gt;Star Cosmo,&lt;/i&gt; respectively, pursuant to the terms of the rehabilitation plan. In October 2013, the Company received $167 and $10 for &lt;i&gt;Star Gamma&lt;/i&gt; and &lt;i&gt;Star Cosmo,&lt;/i&gt; respectively, pursuant to the terms of the rehabilitation plan, and the total amount of $177 is included under &amp;#147;Other operational gain&amp;#148; in the consolidated statements of operations for the year ended December 31, 2013 (Note 10). These amounts have been received as early payment of the cash component of the rehabilitation plan. The next tranche of 718 shares for the vessel &lt;i&gt;Star Cosmo&lt;/i&gt; was released from lock up on June 4, 2013 and along with the 24,196 and 983 shares issued in November 2013, pursuant to the terms of the rehabilitation plan for &lt;i&gt;Star Gamma&lt;/i&gt; and &lt;i&gt;Star Cosmo&lt;/i&gt;, respectively, all of the KLC shares had been sold by December 31, 2015 and an amount of $592 was included in &amp;#147;Other operational gain&amp;#148; in the accompanying statement of operations for the year ended December 31, 2015 (Note 10).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-28.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;c.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On July&amp;#160;13, 2011, &lt;i&gt;Star Cosmo&lt;/i&gt; was retained by the port authority in the Spanish port of Almeria and was released on July&amp;#160;16, 2011. According to the port authority, the vessel allegedly discharged oily water while sailing in Spanish waters in May&amp;#160;2011, more than two months before being retained, and related records were allegedly deficient. Administrative investigation commenced locally. The Company posted a cash collateral of &amp;#128;340,000 (approx. $371, using the exchange rate as of December 31, 2015, eur/usd 1.09) to guarantee the payment of fines that may be assessed in the future, and the vessel was released. The cash collateral of &amp;#128;340,000 was released to the Company in March 2012, after being replaced by a P&amp;amp;I Letter of undertaking. The fines were previously reduced by the Spanish administrative authorities to &amp;#128;260,000 (approx. $283, using the exchange rate as of December 31, 2015, eur/usd 1.09). Except for an amount of &amp;#128;60,000 (approx. $65, using the exchange rate as of December 31, 2015, eur/usd 1.09), which was irrevocably adjudicated in March 2015, the remaining amount of this fine remains subject to adjudication. Up to $1 billion of the liabilities associated with the individual vessel's actions, mainly for sea pollution, are covered by the P&amp;amp;I Club Insurance. The Company has not accrued any amount for this case.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;d.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In March 2013, the Company commenced arbitration proceedings against Hanjin HHIC-Phil Inc., the shipyard that constructed the &lt;i&gt;Star Polaris&lt;/i&gt;, relating to an engine failure the vessel experienced in Korea. This resulted in 142 off-hire days and the loss of $2,343 in revenues. The Company pursued the compensation for the cost of the repairs and the loss of revenues and following the arbitration hearing in July 2015, the arbitral tribunal issued its partial final &amp;#160;award (the &amp;#147;Award&amp;#148;), which found the yard liable for certain aspects of the claim but did not quantify the Award. The Company sought permission to appeal the Award before the High Court of United Kingdom, which procedure is pending. If the permission to appeal is denied, a further hearing will take place before the same arbitral tribunal to quantify the damages for which the yard is liable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;e.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On June 28, 2013, the Company received a letter from the receivers of STX Pan Ocean Co. Ltd., or STX, terminating the charter agreement for the vessel &lt;i&gt;Star Borealis&lt;/i&gt;. &lt;i&gt;Star Borealis&lt;/i&gt; was on time charter at an average gross daily charter rate of $24.75 for the period from September 11, 2011 until July 11, 2021. On September 11, 2014, Star Bulk agreed the settlement of a claim for damages and due hire brought by its subsidiary, Star Borealis LLC arising from the purported repudiation of the &lt;i&gt;Star Borealis&lt;/i&gt; charter agreement by charterer STX (the &amp;#147;Settled Claim&amp;#148;). Star Borealis LLC negotiated, sold and assigned the rights to the Settled Claim to an unrelated third party for $8,016, which was received on October 3, 2014. The Company recorded in 2014 a gain of approximately $9,377 including the extinguishment of a $1,361 liability related to the amount of fuel and lubricants remaining on board of &lt;i&gt;Star Borealis&lt;/i&gt; at the time of the charter repudiation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;f.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On October 23, 2014, a purported shareholder (the &amp;#147;Plaintiff&amp;#148;) 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. The Company has been named as a nominal defendant in the lawsuit. The lawsuit alleges that the acquisition of Oceanbulk and purchase of several Excel Vessels were the result of self-dealing by various defendants and that the Company entered into the respective transactions on unfair terms. The lawsuit further alleges that, as a result of these transactions, several defendants' interests in the Company have increased and that the Plaintiff's interest in the Company has been diluted. The lawsuit also alleges that the Company's management has engaged in other conduct that has resulted in corporate waste. The lawsuit seeks cancellation of all shares issued to the defendants in connection with the acquisition of Oceanbulk, unspecified monetary damages, the replacement of some or all members of the Company's Board of Directors and its Chief Executive Officer, and other relief. The Company believes the claims are completely without merit, denies them and intends to vigorously defend against them in court. On November 24, 2014, the Company and the other defendants removed the action to the United States District Court for the Southern District of New York.&amp;#160;On March 4, 2015, the Company and the other defendants moved to dismiss the complaint.&amp;#160; On February 18, 2016, the court granted the Company's motion to dismiss in full and dismissed the matter.&amp;#160; On February 24, 2016, Plaintiff filed a notice of appeal.&amp;#160; The appeal is pending. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;u&gt;Other contingencies:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 144.0px;margin-top:8.0px;text-indent:-96.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Contingencies relating to Heron&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Following the completion of the Merger, Oceanbulk Shipping became a wholly owned subsidiary of the Company. As further discussed in Note 1, Oceanbulk Shipping owned the Heron Convertible Loan, which was convertible into 50% of Heron's equity. After the conversion of the loan, on November 5, 2014 (Note 1), Heron is 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 December 31, 2015, all vessels previously owned by Heron have 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 receiving permission from local authorities, 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 of December 31, 2014 and 2015, the Company had an outstanding payable of $1,689 and $50 to the Sellers, respectively, 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="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;u&gt;Lease commitments:&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The following table sets forth inflows or outflows, related to the Company's leases, as at December 31, 2015. &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:75px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="19" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:591px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending December&amp;#160;31,&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:75px;height:26px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2021 and thereafter&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:75px;height:26px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Future, minimum, non-cancellable charter revenue (1) &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:justify;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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;34,784 &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;33,695 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;1,089 &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:75px;height:40px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Future, minimum, non-cancellable lease payment under vessel operating leases (2)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(5,949) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(3,605) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(2,344) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:75px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Office rent&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:justify;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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(1,687) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(256) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(256) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(255) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(252) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(247) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(421) &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:75px;height:34px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Bareboat capital leases - upfront hire &amp;amp; handling fees (3)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(7,477) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(6,469) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(672) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(336) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:75px;height:26px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Bareboat commitments charter hire (4) &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:justify;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:20px;"&gt;&lt;div style="text-align:justify;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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(282,474) &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:20px;"&gt;&lt;div style="text-align:justify;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:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(7,126) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(16,951) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(21,388) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(21,291) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(21,774) &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:20px;"&gt;&lt;div style="text-align:justify;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:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(193,944) &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:75px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(262,803) &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;16,239 &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:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(19,134) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(21,979) &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:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(21,543) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(22,021) &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:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(194,365) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:75px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:45px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:60px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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;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;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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the minimum contractual charter revenues to be generated from the existing, as of December 31, 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;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the Company's commitments under the operating lease arrangement for Maiden Voyage disclosed in 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:Calibri;font-size:13.3px;color:#000000; "&gt;(3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire fee and handling fees for those vessels being, as of December 31, 2015, under construction. &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:Calibri;font-size:13.3px;color:#000000; "&gt;(4)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of December 31, 2015, under construction discussed in Note 6, as well as those commitments under bareboat lease agreements discussed in Note 5. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month LIBOR of 0.846%, as of December 31, 2015 (please refer to 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;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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;16.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Income taxes:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Taxation on Marshall Islands Registered Companies &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Under the laws of the countries of the shipowning companies' incorporation and/or vessels' registration, the shipowning companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes, which have been included under &amp;#147;Vessel operating expenses&amp;#148; in the accompanying statements of operations. In addition, effective as of January 1, 2013, each foreign flagged vessel managed in Greece by Greek or foreign ship management companies is subject to Greek tonnage tax, under the laws of the Hellenic Republic. The technical managers of the Company's vessels, which are established in Greece under Greek Law 89/67, are responsible for the filing and payment of the respective tonnage tax on behalf the Company. These tonnage taxes for 2013, 2014 and 2015 amounted to $668, $1,260 and $3,302 respectively, and have also been included under &amp;#147;Vessel operating expenses&amp;#148; in the accompanying statements of operations. Furthermore, the New Tonnage Tax System (&amp;#147;TTS&amp;#148;) for Cypriot merchant shipping applicable from fiscal year 2010. Under the new TTS, qualifying ship managers who opted and are accepted to be taxed under the TTS are subject to an annual tax referred to as tonnage tax, which is calculated on the basis of the net tonnage of the qualifying ships they manage. The technical managers of the Company's vessels, which are established and operate in Cyprus, are responsible for the filing and payment of the respective tonnage tax. This tonnage tax for 2015 amounted to $11, and has also been included under &amp;#147;Vessel operating expenses&amp;#148; in the accompanying statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Taxation on US Source Income -&amp;#160;Shipping Income&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company believes that it and its subsidiaries are exempt from U.S. federal income tax at 4% on U.S. source shipping income for the taxable years 2012, 2013, 2014, and 2015, as each vessel-operating subsidiary is organized in a foreign country that grants an equivalent exemption to corporations organized in the United States and the Company's stock is primarily and regularly traded on an established securities market in the United States, as defined by the Internal Revenue Code (IRC) of the United States.&amp;#160;&amp;#160;Under IRS regulations, a Company's stock will be considered to be regularly traded on an established securities market if (i) one or more classes of its stock representing 50% or more of its outstanding shares, by voting power of all classes of stock of the corporation entitled to vote and of the total value of the stock of the corporation, are listed on the market and (ii) (A) such class of stock is traded on the market, other than in minimal quantities, on at least 60 days during the taxable year or one sixth of the days in a short taxable year; and (B) the aggregate number of shares of such class of stock traded on such market during the taxable year must be at least 10% of the average number of shares of such class of stock outstanding during such year or as appropriately adjusted in the case of a short taxable year. Notwithstanding the foregoing, the treasury regulations provide, in pertinent part, that a class of the Company's stock will not be considered to be &amp;#147;regularly traded&amp;#148; on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified stock attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the vote and value of such class of the Company's outstanding stock, (&amp;#147;5% Override Rule&amp;#148;).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Taxation on Maltese Registered Company&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition to the tax consequences discussed above, the Company may be subject to tax in one or more other jurisdictions, including Malta, where the Company conducts activities. The amount of any such tax imposed upon the Company's operations for year 2015 in Malta will be immaterial. &lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;15.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Accrued liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Audit fees&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;432&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;386&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Legal fees&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,149&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;449&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other professional fees&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;350&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;26&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;Vessel Operating and voyage expenses&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8,477&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;9,555&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Loan interest and financing fees&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,330&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4,357&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Accrued Liabilities&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;13,738&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,773&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:EarningsPerShareTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Earnings / (Loss) per share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;All shares issued (including the restricted shares issued under the Company's equity incentive plan) are the Company's common stock and have equal rights to vote and participate in dividends. The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreement. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. For the years ended December 31, 2014 and 2015, during which the Company incurred losses, the effect of 394,167 and 676,150 non-vested shares, respectively, as well as the effect of 521,250 non vested share options as of December 31, 2015, would be anti-dilutive, and &amp;#147;Basic loss per share&amp;#148; equals &amp;#147;Diluted loss per share&amp;#148;. The weighted average diluted common shares outstanding for the year ended December 31, 2013 included the effect of 65,045 incremental shares assumed to be issued under the treasury stock method, excluding 3,404 incremental shares due to their anti-dilutive effect.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company calculates basic and diluted losses per share as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,850&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(11,723&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(458,177&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic 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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;14,051,344 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,441,193 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;195,623,363 &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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic 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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;0.13 &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.20) &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:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(2.34) &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:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Dillutive 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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;65,045 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;14,116,389 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,441,193 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;195,623,363 &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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Diluted 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:94px;"&gt;&lt;div style="text-indent:133.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.20)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(2.34)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <sblk:ManagementFeesTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;12.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Management fees:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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 year ended December 31, 2015, were $7,985 and are included in Management fees in the accompanying consolidated statement of operations. In addition, Management fees for the year ended December 31, 2015 also include $451 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:ManagementFeesTextBlock>
  <sblk:OtherOperationalLossTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;11. &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other operational loss:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On September 29, 2010, the Company entered into an agreement with a third party to sell 45% of its interests in any future proceeds related to the recovery of certain of the commercial claims for consideration of $5,000 (Note 17.1. (a)). During the year ended December 31, 2012, the Company came to a legal settlement over a legal case included in the above agreement and paid the third party 45% of the proceeds from that settlement. As a result, for the year ended December 31, 2013, other operational loss totaled $1,125, representing the expense incurred by the Company to a third party in connection to the settlement of a commercial claim, based on the same agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;For the year ended December 31, 2014 and 2015, other operational loss totaled $94 and $0, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:OtherOperationalLossTextBlock>
  <sblk:OtherOperationalGainTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:7.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;10.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other operational gain:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;For the year ended December 31, 2013, other operational gain totaled $3,787, mainly consisting of $2,500 and $177 paid to the Company, in connection with the settlement of two commercial claims (Note 17.1 (a) and (b)) and $1,030 regarding a gain from a hull and machinery claim.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 28, 2013, the Company received a letter from the receivers of STX Pan Ocean Co. Ltd., or STX, terminating the charter agreement for the vessel &lt;i&gt;Star Borealis&lt;/i&gt;, effective immediately. &lt;i&gt;Star Borealis&lt;/i&gt; was on time charter at an average gross daily charter rate of $24.75 for the period from September 11, 2011 until July 11, 2021. On September 11, 2014, Star Bulk agreed the settlement of a claim for damages and due hire brought by its subsidiary, Star Borealis LLC (&amp;#147;Star Borealis&amp;#148;) arising from the repudiation of the long-term time charter by charterer STX, which claim had been filed with the Seoul Central District Court, Korea, (the &amp;#147;Settled Claim&amp;#148;). Star Borealis negotiated, sold and assigned the rights to the Settled Claim to an unrelated third party for consideration of $8,016, which was received on October 3, 2014. The Company recorded in 2014 a gain of approximately $9,377 including the extinguishment of a $1,361 liability related to the amount of fuel and lubricants remaining on board of the vessel &lt;i&gt;Star Borealis&lt;/i&gt; at the time of the charter repudiation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, other operational gain for the year ended December 31, 2014, includes $456 relating to a gain from a hull and machinery insurance claim and a gain from a protection and indemnity claim, as well as $170 relating to a rebate from the Company's previous manning agent.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;For the year ended December 31, 2015, other operational gain of $592 was recognized, mainly consisting of $550 cash received from the sale of KLC shares acquired in connection with the rehabilitation plan discussed below in Note 17.1.b. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:OtherOperationalGainTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;9.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Preferred, Common Stock and Additional paid in capital:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Preferred Stock: &lt;/b&gt;Star Bulk is authorized to issue up to 25,000,000 shares of preferred stock, $0.01 par value with such designations, as voting, and other rights and preferences, as determined by the Board of Directors. As of December 31, 2014 and 2015 the Company had not issued any preferred stock.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Common Stock: &lt;/b&gt;Star Bulk was authorized to issue 100,000,000 registered common shares, par value $0.01. On November 23, 2009, at the Company's annual meeting of shareholders, the Company's shareholders voted to approve an amendment to the Amended and Restated Articles of Incorporation increasing the number of common shares that the Company is authorized to issue from 100,000,000 registered common shares, par value $0.01 per share, to 300,000,000 registered common shares, par value $0.01 per share.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Each outstanding share of the Company's common stock entitles the holder to one vote on all matters submitted to a vote of shareholders. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of shares of common stock are entitled to ratably receive all dividends, if any, declared by the Company's Board of Directors out of funds legally available for dividends. Holders of common stock do not have conversion, redemption or preemptive rights to subscribe to any of the Company's securities. All outstanding shares of common stock are fully paid and non-assessable. The rights, preferences and privileges of holders of shares of common stock are subject to the rights of the holders of any shares of preferred stock which the Company may issue in the future.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July 25, 2013, pursuant to a rights offering, approved by the Company's Board of Directors in April 2013, the Company issued 15,338,861 shares of common stock, which resulted in net proceeds of $77,898 after deducting offering expenses of $2,167. The proceeds were primarily used for orders for fuel-efficient dry bulk vessels with some of the proceeds being reserved for working capital and general corporate purposes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On October 7, 2013, the Company offered 8,050,000 common shares, in a primary underwritten public offering price of $8.80 per share less underwriters' discount. The sale of shares by the Company resulted in net proceeds of $68,124 after deducting offering expenses of $2,716. The Company used the net proceeds from this offering for the partial funding of newbuilding vessels, for vessel acquisitions, and for general corporate purposes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As disclosed in Note 13 below, during the year ended December 31, 2013, the Company issued: (i) 239,333 common shares in connection with its 2013 Equity Incentive Plan; (ii) 12,000 common shares, which were granted to a former director of the Company; and (iii) 18,667 common shares to the former Chief Executive Officer of the Company, representing the second and the third installments of his minimum guaranteed incentive award in accordance with his consultancy agreement (Note 3).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In July 2014, the Company issued as consideration 54,104,200 common shares in the July 2014 Transactions, consisting of 48,395,766 common shares for the Merger, 3,592,728 common shares for the acquisition of the Pappas Companies and 2,115,706 common shares as partial consideration for the acquisition of the Heron Vessels (Note 1).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As disclosed in Note 3 above, 22,598 common shares were issued during the year ended December 31, 2014, 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-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As disclosed in Note 13 below, during the year ended December 31, 2014, the Company issued: (i) 394,167 common shares in connection with its 2014 Equity Incentive Plan; (ii) 8,000 common shares, which were granted to certain directors of the Company; (iii) 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; and (iv) 168,842 the Company's former Chief Executive Officer pursuant to a termination agreement dated July 31, 2014 (Note 3).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. As of December 31, 2015, the Company had issued all shares, out of which 25,659,425 common shares were issued in 2014 as part of the Excel Vessel Share Consideration and the remaining 4,257,887 shares were issued in 2015 (Note 1 and Note 5).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 $242,211.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-top:7.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As disclosed in Note 3 above, 171,171 common shares were issued during the year ended December 31, 2015, as consideration for the third installment payable to Oceanbulk Maritime S.A. as commission for the shipbuilding contracts of certain of the Company's newbuilding vessels.&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;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;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:LongTermDebtTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;8. &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Long-term debt: &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;T&lt;/b&gt;he table below presents outstanding amounts under the Company's bank loans and notes as of December 31, 2014 and 2015:&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:397px;height:13px;"&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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&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-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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Commerzbank $120,000 and $26,000 facilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;74,680&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;54,968&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;51,028&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;12,800&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;29,600&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;22,047&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33,187&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;30,771&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;36,660&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33,540&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;76,689&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;55,158&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;82,708&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;77,042&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;83,490&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;77,270&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;19,300&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;17,900&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;29,966&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;32,480&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;30,331&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;56,161&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;24,750&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;21,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;30,000&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;52,165&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;51,478&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;80,554&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;24,567&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;88,275&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;98,051&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;DVB $31,000 Facility&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;27,727&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:22px;"&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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;91,032&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;50,000 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:397px;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:22px;"&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:Calibri;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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;911,738&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Commerzbank $120,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December 27, 2007, the Company entered into a loan agreement with Commerzbank AG for up to $120,000, in order to partially finance the acquisition cost of the vessels, &lt;i&gt;Star Gamma&lt;/i&gt;, &lt;i&gt;Star Delta&lt;/i&gt;, &lt;i&gt;Star Epsilon&lt;/i&gt;, &lt;i&gt;Star Zeta&lt;/i&gt;, and &lt;i&gt;Star Theta&lt;/i&gt; (the &amp;#147;Commerzbank $120,000 Facility&amp;#148;). The Commerzbank $120,000 Facility is secured by a first priority mortgage over the financed vessels. &amp;#160;The Commerzbank $120,000 Facility was amended in June and December 2009. &amp;#160;As amended, the Commerzbank $120,000 Facility had two tranches. &amp;#160;One tranche of $50,000 was repayable in 28 consecutive quarterly installments, which commenced in January 2010, consisting of (i) the first four installments of $2,250 each, (ii) the next 13 installments of $1,000 each and (iii) the remaining 11 installments of $1,300 each, with a final balloon payment of $13,700 payable along with the last installment. &amp;#160;The second tranche of $70,000 was repayable in 28 consecutive quarterly installments, which commenced in January 2010, consisting of (i) the first four installments of $4,000 each and (iii) the remaining 24 installments of $1,750 each, with a final balloon payment of $12,000 payable together with the last installment. &amp;#160;The repayment schedule was modified to make the entire amount outstanding under the Commerzbank $120,000 Facility payable in October, 2016, as described further below under &amp;#147;Supplemental Agreements -&amp;#160;Commerzbank $120,000 and $26,000 Facilities.&amp;#148; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Commerzbank $26,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On September 3, 2010, the Company entered into a loan agreement with Commerzbank AG for up to $26,000 in order to partially finance the acquisition cost of the vessel, &lt;i&gt;Star Aurora&lt;/i&gt; (the &amp;#147;Commerzbank $26,000 Facility&amp;#148;)&lt;i&gt;.&lt;/i&gt; The Commerzbank $26,000 Facility was secured by a first priority mortgage over the financed vessel. &amp;#160;As described below, under &amp;#147;Supplemental Agreements - Commerzbank $120,000 and $26,000 Facilities,&amp;#148; the Commerzbank $26,000 was fully repaid in June 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Restructuring Agreement - Commerzbank $120,000 and $26,000 Facilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December&amp;#160;17, 2012, the Company executed a commitment letter with Commerzbank to amend the Commerzbank $120,000 Facility and the Commerzbank $26,000 Facility. The definitive documentation for the supplemental agreement (the &amp;#147;Commerzbank Supplemental&amp;#148;) was signed on July&amp;#160;1, 2013. Pursuant to the Commerzbank Supplemental, the Company paid Commerzbank a flat fee of 0.40% of the combined outstanding loans under the two facilities and agreed, subject to certain conditions, to (i) amend some of the covenants governing the two facilities, (ii)&amp;#160;prepay an amount of $2,000, pro rata against the balloon payments of each facility, (iii)&amp;#160;raise $30,000 in equity (which condition was satisfied after the completion of the Company's rights offering in July 2013 (Note 9)) and (iv)&amp;#160;increase the loan margins. In addition, Commerzbank agreed to defer 60% and 50% of the quarterly installments for the years ended December&amp;#160;31, 2013 and 2014 (the &amp;#147;Deferred Amounts&amp;#148;), to the balloon payments or to a payment in accordance with a semi-annual cash sweep mechanism; under which all earnings of the mortgaged vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, will be used as repayment of the Deferred Amounts. The Company was not permitted to pay any dividends as long as Deferred Amounts are outstanding and/or until original terms are complied with. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 30, 2015, the Company and Commerzbank AG signed a second supplemental agreement (the &amp;#147;Commerzbank Second Supplemental&amp;#148;). Under the Commerzbank Second Supplemental, the Company agreed to (i)&amp;#160;prepay an amount of $3,000, (ii)&amp;#160;amend some of the covenants governing this facility, and (iii) change the repayment date for the Commerzbank $26,000 Facility from September 7, 2016 to July 31, 2015. The Company fully repaid the Commerzbank $26,000 Facility in June 2015, and the vessels &lt;i&gt;Star Aurora&lt;/i&gt; and &lt;i&gt;Star Zeta&lt;/i&gt; were released from the vessel mortgage.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company and Commerzbank AG signed a third supplemental agreement (the &amp;#147;Commerzbank Third Supplemental&amp;#148;). Under the Commerzbank Third Supplemental, the Company and Commerzbank AG agreed to (i) defer the installment payments under the Commerzbank $120,000 Facility, until the full repayment in late October, 2016, (ii) add as additional collateral the vessel &lt;i&gt;Star Iris, &lt;/i&gt;and&lt;i&gt; &lt;/i&gt;(iii)&amp;#160;amend some of the covenants governing this facility (Note 20).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Credit Agricole $70,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January&amp;#160;20, 2011, the Company entered into a loan agreement with Credit Agricole Corporate and Investment Bank for a term loan up to $70,000 (the &amp;#147;Credit Agricole $70,000 Facility&amp;#148;)&lt;i&gt; &lt;/i&gt;to partially finance the construction cost of the two newbuilding vessels, &lt;i&gt;Star Borealis&lt;/i&gt; and &lt;i&gt;Star Polaris, &lt;/i&gt;which were delivered to the Company in 2011. The Credit Agricole $70,000 Facility is secured by a first priority mortgage over the financed vessels and is divided into two tranches. The Company drew down $67,275 under this facility. The Credit Agricole $70,000 Facility is repayable in 28 consecutive quarterly installments, commencing three months after the delivery of each vessel, of $485.4 and $499.7, respectively, and a final balloon payment payable at maturity, of $19,558.2 (due August&amp;#160;2018) and $20,134 (due November&amp;#160;2018) for the &lt;i&gt;Star Borealis&lt;/i&gt; and &lt;i&gt;Star Polaris &lt;/i&gt;tranches, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a waiver letter with Credit Agricole Corporate and Investment Bank in order to revise some of the covenants contained in the loan agreement for a period up to December 31, 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;d)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;ABN AMRO Bank N.V. $31,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July&amp;#160;21, 2011, the Company entered into a senior secured credit facility with ABN AMRO Bank N.V. the &amp;#147;ABN AMRO&amp;#148;) for $31,000 (the &amp;#147;ABN AMRO $31,000 Facility&amp;#148;), to partially finance the acquisition cost of the vessels &lt;i&gt;Star Big&lt;/i&gt; and &lt;i&gt;Star Mega&lt;/i&gt;. The ABN AMRO $31,000 Facility was secured by a first priority mortgage over the financed vessels. The borrowers under the ABN AMRO $31,000 Facility were the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. was the guarantor. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March&amp;#160;16, 2012, the Company and ABN AMRO amended the ABN AMRO $31,000 Facility under a first supplemental agreement (the &amp;#147;ABN $31,000 First Supplemental&amp;#148;). On April&amp;#160;2, 2013, the Company and ABN AMRO signed a second supplemental agreement (the &amp;#147;ABN $31,000 Second Supplemental&amp;#148; and, together with the ABN First Supplemental, the &amp;#147;ABN $31,000 Supplementals&amp;#148;). Under the ABN $31,000 Supplementals, the Company agreed, subject to certain conditions, to (i) revise the covenants governing this facility until December&amp;#160;31, 2014, (ii)&amp;#160;not pay dividends until December&amp;#160;31, 2014 and (iii)&amp;#160;increase the margin by 50 bps, beginning on March&amp;#160;31, 2013, until the time the Company was able to raise at least $30,000 of additional equity (which condition was satisfied after the completion of the Company's rights offering in July 2013 (Note 9)).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 31, 2015, the Company and ABN AMRO signed a third supplemental agreement (the &amp;#147;ABN $31,000 Third Supplemental&amp;#148;) and agreed to revise certain covenants governing this facility. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;e)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;HSH Nordbank AG $64,500 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On October&amp;#160;3, 2011, the Company entered into a $64,500&amp;#160;secured term loan agreement (the &amp;#147;HSH Nordbank $64,500&amp;#160;Facility&amp;#148;) with HSH Nordbank AG (&amp;#147;HSH Nordbank&amp;#148;) to repay, together with cash on hand, certain existing debt. The borrowers under the HSH Nordbank $64,500&amp;#160;Facility are the vessel-owning subsidiaries that own the vessels &lt;i&gt;Star Cosmo, Star Kappa, Star Sigma, Star Omicron&lt;/i&gt; and &lt;i&gt;Star Ypsilon&lt;/i&gt;, and Star Bulk Carriers Corp. is the guarantor. This facility consists of two tranches. The first tranche of $48,500 (the &amp;#147;Supramax Tranche&amp;#148;) is repayable in 20 quarterly consecutive installments of $1,250 commencing in January&amp;#160;2012 and a final balloon payment of $23,500 payable at the maturity, in September, 2016. The second tranche of $16,000 (the &amp;#147;Capesize Tranche&amp;#148;) was repayable in 12 consecutive, quarterly installments of $1,333, commencing in January&amp;#160;2012 and matured in September&amp;#160;2014.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July 17, 2013, the Company and HSH Nordbank signed a supplemental agreement (the &amp;#147;HSH Nordbank $64,500 Supplemental&amp;#148;). Under the HSH Nordbank $64,500&amp;#160;Supplemental, the Company agreed, subject to certain conditions, to (i) amend some of the covenants governing this facility until December 31, 2014, (ii) defer a minimum of approximately $3,500 payments from January&amp;#160;1, 2013 until December&amp;#160;31, 2014, (iii)&amp;#160;prepay an amount of $6,590 with pledged cash already held by HSH Nordbank, (iv)&amp;#160;raise $20,000 in equity (which condition was satisfied after the completion of the Company's rights offering in July 2013, (Note 9), (v) increase the loan margins from January 1, 2013 until December 31, 2014, (vi)&amp;#160;include a semi-annual cash sweep mechanism, under which all earnings of the mortgaged vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be used as prepayment to the balloon payment of the Supramax Tranche, and (vii)&amp;#160;not pay any dividends until December&amp;#160;31, 2014 or later in case of a covenant breach. When the Company sold the vessel &lt;i&gt;Star Sigma &lt;/i&gt;in April&amp;#160;2013, the HSH Nordbank $64,500 Supplemental also required the Company to use the proceeds from the sale to fully prepay the balance of the Capesize Tranche and use the remaining vessel sale proceeds &amp;#160;to prepay a portion of the Supramax Tranche. As a result, the next seven scheduled quarterly installments commencing in April 2013 were reduced pro rata according to the prepayment from $813 to $224. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company and HSH Nordbank signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;f)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;HSH Nordbank AG $35,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On February&amp;#160;6, 2014, the Company entered into a new $35,000 secured term loan agreement (the &amp;#147;HSH Nordbank $35,000 Facility&amp;#148;) with HSH Nordbank AG. The borrowings under this new loan agreement were used to partially finance the acquisition cost of the vessels &lt;i&gt;Star Challenger &lt;/i&gt;and &lt;i&gt;Star Fighter.&lt;/i&gt; The HSH Nordbank $35,000 Facility is secured by a first priority mortgage over the financed vessels. The borrowers under the HSH Nordbank $35,000 Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. is the guarantor. This facility matures in February&amp;#160;2021 and is repayable in 28 equal, consecutive, quarterly installments, commencing in May&amp;#160;2014, of $312.5 and $291.7 for the &lt;i&gt;Star Challenger&lt;/i&gt; and &lt;i&gt;Star Fighter&lt;/i&gt;, respectively, and a final balloon payment of $8,750 and $9,332.4, payable together with the last installments, for &lt;i&gt;Star Challenger &lt;/i&gt;and &lt;i&gt;Star Fighter,&lt;/i&gt; respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company and HSH Nordbank signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;g)&lt;/b&gt;&lt;/font&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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Deutsche Bank AG $39,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March&amp;#160;14, 2014, the Company entered into a $39,000 secured term loan agreement with Deutsche Bank AG (the &amp;#147;Deutsche Bank $39,000 Facility&amp;#148;). The borrowings under this loan agreement were used to partially finance the acquisition cost of the vessels &lt;i&gt;Star Sirius&lt;/i&gt; and &lt;i&gt;Star Vega. &lt;/i&gt;The Deutsche Bank $39,000 Facility is secured by a first priority mortgage over the financed vessels. The borrowers under the Deutsche Bank $39,000 Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. is the guarantor.&lt;i&gt; &lt;/i&gt;This facility consists of two tranches of $19,500 each and matures in March&amp;#160;2021. Each tranche is repayable in 28 equal, consecutive, quarterly installments of $390 each commencing in June&amp;#160;2014, and a final balloon payment of $8,580 payable at maturity.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company entered into a supplemental letter with Deutsche Bank AG to amend certain covenants governing this facility until December 31, 2016. &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-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;h)&lt;/b&gt;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;ABN $87,458 Facility&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On August&amp;#160;1, 2013, Oceanbulk Shipping entered into a $34,458 credit facility with ABN AMRO, N.V. (the &amp;#147;ABN AMRO $87,458 Facility&amp;#148;) in order to partially finance the acquisition cost of the vessels &lt;i&gt;Obelix&lt;/i&gt; and &lt;i&gt;Maiden Voyage&lt;/i&gt;. The loans under the ABN AMRO $87,458 Facility were available in two tranches of $20,350 and $14,108. On August&amp;#160;6, 2013, Oceanbulk Shipping drew down the available tranches. On December&amp;#160;18, 2013, the ABN AMRO $87,458 Facility was amended to add an additional loan of $53,000 to partially finance the acquisition cost of the vessels &lt;i&gt;Big Bang, Strange Attractor, Big Fish&lt;/i&gt; and&lt;i&gt; Pantagruel&lt;/i&gt;. On December&amp;#160;20, 2013, Oceanbulk Shipping drew down the available tranches. The tranche under the ABN AMRO $87,458 Facility relating to vessel &lt;i&gt;Obelix&lt;/i&gt; matures in September&amp;#160;2017, the one relating to vessel &lt;i&gt;Maiden Voyage &lt;/i&gt;matures in August&amp;#160;2018 and those relating to vessels &lt;i&gt;Big Bang, Strange Attractor, Big Fish and Pantagruel, &lt;/i&gt;mature in December&amp;#160;2018. The tranches are repayable in quarterly consecutive installments ranging between $248 to $550 and a final balloon payment for each tranche at maturity, ranging between $2,500 and $12,813. The ABN AMRO $87,458 Facility is secured by a first-priority ship mortgage on the financed vessels and general and specific assignments and was guaranteed by Oceanbulk Shipping LLC. Following the completion of the Merger, Star Bulk Carriers Corp. replaced Oceanbulk Shipping as guarantor of the ABN AMRO $87,458 Facility. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a supplemental letter with ABN AMRO to amend certain covenants governing this facility until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In August 2015, the tranche relating to the vessel &lt;i&gt;Maiden Voyage &lt;/i&gt;was fully repaid, following the sale of the vessel (Note 5). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In January 2016, the Company entered into an agreement with a third party to sell the vessel &lt;i&gt;Obelix&lt;/i&gt;, which is expected to be delivered to its new owners by April 2016. In connection with this sale, the tranche relating to the vessel &lt;i&gt;Obelix&lt;/i&gt; is expected to be repaid. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:53.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;i) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Deutsche Bank $85,000 Facility&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On May&amp;#160;20, 2014, Oceanbulk Shipping entered into a loan agreement with Deutsche Bank AG Filiale Deutschlandgeschaft for the financing of an aggregate amount of $85,000 (the &amp;#147;Deutsche Bank $85,000 Facility&amp;#148;), in order to partially finance the construction cost of the newbuilding vessels &lt;i&gt;Magnum Opus&lt;/i&gt;, &lt;i&gt;Peloreus &lt;/i&gt;and&lt;i&gt; Leviathan&lt;/i&gt;. Each tranche matures five years after the drawdown date. The applicable tranches were drawn down concurrently with the deliveries of the financed vessels, in May, July&amp;#160;and September&amp;#160;2014, respectively. Each tranche is subject to 19 quarterly amortization payments equal to 1/60th of the tranche amount, with the 20th payment equal to the remaining amount outstanding on the tranche. The Deutsche Bank $85,000 Facility is secured by first priority cross-collateralized ship mortgages on the financed vessels, and general and specific assignments and was originally guaranteed by Oceanbulk Shipping. On July&amp;#160;4, 2014, an amendment to the Deutsche Bank $85,000 Facility was executed in order to add ITF International Transport Finance Suisse AG as a lender. On November 4, 2014, a supplemental letter was signed to replace Oceanbulk Shipping with Star Bulk Carriers Corp. as guarantor of this facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a supplemental letter with Deutsche Bank AG Filiale Deutschlandgeschaft to amend certain covenants governing this facility until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In March 2016, the tranche relating to the vessel &lt;i&gt;Magnum Opus &lt;/i&gt;was fully repaid, following the sale of the respective vessel (Note 20).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;j) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;HSBC $86,600 Facility&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June&amp;#160;16, 2014, Oceanbulk Shipping entered into a loan agreement with HSBC Bank plc. (the &amp;#147;HSBC $86,600 Facility&amp;#148;) for the financing of an aggregate amount of $86,600, to partially finance the acquisition cost of the second hand vessels &lt;i&gt;Kymopolia&lt;/i&gt;, &lt;i&gt;Mercurial Virgo&lt;/i&gt;, &lt;i&gt;Pendulum&lt;/i&gt;, &lt;i&gt;Amami&lt;/i&gt; and &lt;i&gt;Madredeus&lt;/i&gt;. The loan, which was drawn in June&amp;#160;2014, matures in May&amp;#160;2019 and is repayable in 20 quarterly installments, commencing three months after the drawdown, of $1,555 plus a balloon payment of $55,500 due together with the last installment. The HSBC $86,600 Facility is secured by a first priority mortgage over the financed vessels and general and specific assignments and was originally guaranteed by Oceanbulk Shipping. On September&amp;#160;11, 2014, a supplemental agreement to the HSBC $86,600 Facility was executed in order to replace Oceanbulk Shipping with Star Bulk Carriers Corp. as guarantor of the HSBC $86,600 Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;k)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;HSBC $20,000 Dioriga Facility&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On April&amp;#160;14, 2014, Dioriga Shipping Co. entered into a loan agreement with HSBC Bank plc (the &amp;#147;HSBC $20,000 Dioriga Facility&amp;#148;) for $20,000 to partially finance the construction cost of the vessel &lt;i&gt;Tsu Ebisu&lt;/i&gt;, which was delivered in April&amp;#160;2014. The HSBC $20,000 Dioriga Facility matures in March&amp;#160;2019 and is repayable in 20 quarterly installments of $350 each, commencing three months after the drawdown, plus a balloon payment of $13,000 due together with the last installment. The HSBC $20,000 Dioriga Facility is secured by a first priority mortgage over the financed vessel and general and specific assignments. On October&amp;#160;3, 2014, a supplemental agreement to the HSBC $20,000 Dioriga Facility was executed in order for Star Bulk Carriers Corp. to become the guarantor of the HSBC $20,000 Dioriga Facility and to include covenants similar to those of the Company's other vessel financing facilities.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 30, 2015, the Company entered into second supplemental agreements with HSBC Bank plc to amend certain covenants included in the HSBC $86,600 Facility and HSBC $20,000 Dioriga Facility until December 31, 2016. In addition, the Company agreed to provide a first priority cross collateralized mortgage over the financed vessels of the HSBC $86,600 Facility and the financed vessel of the HSBC $20,000 Dioriga Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In December 2015, the Company entered into separate agreement with third party to sell the vessel &lt;i&gt;Tsu Ebisu&lt;/i&gt; (Note 20) and therefore the Dioriga $20.0 million Facility was fully repaid in January 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;l) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;CEXIM $57,360 Facility&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June&amp;#160;26, 2014, Oceanbulk Shipping entered into a loan agreement with the Export-Import Bank of China (the &amp;#147;CEXIM $57,360 Facility&amp;#148;) for the financing of an aggregate amount of up to $57,360, which will be available in two tranches of $28,680 each, to partially finance the construction cost of the two newbuilding Vessels &lt;i&gt;Bruno Marks&lt;/i&gt; (ex-HN 1312) delivered in January 2016 and HN 1313 (tbn &lt;i&gt;Jenmark&lt;/i&gt;), with expected delivery in March 2016.&amp;#160; Each tranche will mature ten years from the delivery of the last delivered financed vessel and is repayable in 20 semi-annual installments of $1,147 plus a balloon payment of $5,736, with the first installment being due on the first January&amp;#160;21 or July&amp;#160;21, six months after the delivery of each vessel. In December 2015, the Company entered into separate agreements with third parties to sell the newbuilding vessels &lt;i&gt;Bruno Marks and Jenmark, &lt;/i&gt;upon their delivery to the Company (Note 6) and therefore the CEXIM $57,360 Facility was terminated without being drawn.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;m)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;NIBC $32,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On November&amp;#160;7,&amp;#160;2014, the Company and NIBC Bank N.V. entered into an agreement with respect to a credit facility (the &amp;#147;NIBC $32,000 Facility&amp;#148;) for the financing of an aggregate amount of up to $32,000, which is available in two tranches of $16,000, to partially finance the construction cost of two newbuilding vessels, &lt;i&gt;Star Aquarius&lt;/i&gt; (ex-HN 5040) and &lt;i&gt;Star Pisces&lt;/i&gt; (ex-HN 5043). An amount of $15,237 for each vessel was drawn in July and August 2015, concurrently with the delivery of the respective vessels to the Company. Each tranche is repayable in consecutive quarterly installments of $255, commencing three months after the drawdown of each tranche, plus a balloon payment of $9,633 and $9,888, for each of the two vessels, both due in November 2020. The NIBC $32,000 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a supplemental letter with NIBC Bank N.V to amend certain covenants governing this facility until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;n)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;BNP $32,480 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December 3, 2014, Positive Shipping Company, a subsidiary of Star Bulk following the completion of the Pappas Transaction, and BNP Paribas entered into an agreement with respect to a credit facility (the &amp;#147;BNP $32,480 Facility&amp;#148;) for the financing of up to $32,500 to partially finance the construction cost of its newbuilding vessel &lt;i&gt;Indomitable&lt;/i&gt; (ex-HN 5016). An amount of $32,480 was drawn in December 2014, in anticipation of the delivery of the &lt;i&gt;Indomitable&lt;/i&gt; to the Company on January 8, 2015. The facility is repayable in 20 equal, consecutive, quarterly principal payments of $537.2 each, with the first becoming due and payable three months from the drawdown date and a balloon installment of $21,737 payable simultaneously with the 20&lt;sup&gt;th &lt;/sup&gt;installment, which is due in December 2019. The BNP $32,480 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July 3, 2015, the Company signed a supplemental letter with BNP Paribas to amend certain covenants governing this facility from June 30, 2015 until December 31, 2016. &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:Calibri;font-size:13.3px;color:#000000; "&gt;In December 2015, the Company entered into separate agreement with third party to sell the vessel &lt;i&gt;Indomitable.&lt;/i&gt; In connection with this sale, the BNP $32.48 million Facility is expected to be repaid in March 2016 along with the delivery of the vessel to its new owners.. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;o)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Excel Vessel Bridge Facility (Note 3 and Note 20):&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On August 19, 2014, the Company, through Unity Holdings LLC (&amp;#147;Unity&amp;#148;), a fully owned subsidiary, entered into a $231,000 Senior Secured Credit Agreement, among Unity, as Borrower, the initial lenders named therein, as Initial Lenders, affiliates of Oaktree and Angelo Gordon as Lenders, and Wilmington Trust National Association, as Administrative Agent. The Company used borrowings under the Excel Vessel Bridge Facility to fund portion of the cash consideration for the Excel Vessels. The Excel Vessel Bridge Facility would mature in February 2016, with mandatory repayments of $6,000, each due in March, June and September 2015. Unity, Star Bulk, and each individual vessel-owning subsidiary of Unity were guarantors under the Excel Vessel Bridge Facility. As of December 31, 2014 an amount of $195,914 had been drawn under the Excel Vessel Bridge Facility, of which an amount of $139,753 was prepaid from proceeds from the Citi Facility and the DNB $120,000 Facility (discussed below), with such prepayment being applied in direct order of maturity according to the provisions of the Excel Vessel Bridge Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As of December 31, 2014, the classification of the Excel Vessel Bridge Facility, in the accompanying balance sheet was made according to the repayment schedules of the Citi Facility and DNB $120,000 Facility. On January 29, 2015, the Company fully prepaid and terminated the Excel Vessel Bridge Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;p)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;DVB $24,750 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On October 30, 2014, the Company and DVB Bank SE, Frankfurt entered into an agreement with respect to a credit facility (the &amp;#147;DVB $24,750 Facility&amp;#148;), to partially finance the acquisition of 100% of the equity interests of Christine Shipco LLC, which is the owner of the vessel&amp;#160;&lt;i&gt;Star Martha&lt;/i&gt;&amp;#160;(ex-Christine), one of the 34 Excel Vessels. On October&amp;#160;31, 2014, the Company drew $24,750 to pay Excel the related cash consideration. The DVB $24,750 Facility is repayable in 24 consecutive, quarterly principal payments of $900 for each of the first four quarters and of $450 for each of the remaining 20 quarters, with the first becoming due and payable three months from the drawdown date, and a balloon payment of $12,150 payable simultaneously with the last quarterly installment, which is due in October&amp;#160;2020. The DVB $24,750 Facility is secured by a first priority pledge of the membership interests of the Christine Shipco LLC 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a supplemental letter with DVB Bank SE, Frankfurt to amend certain covenants governing this facility until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;q)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Excel Vessel CiT Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December&amp;#160;9, 2014, the Company entered into a credit facility with CiT Finance LLC (the &amp;#147;Excel Vessel CiT Facility&amp;#148;) for an amount up to $30,000 to partially finance the acquisition of 11 of the older Excel Vessels. The Excel Vessel CiT Facility is secured on a first-priority basis by these 11 financed vessels, which consist of nine Panamax and two Handymax vessels (the &amp;#147;Excel Collateral Vessels&amp;#148;). Pursuant to an intercreditor agreement executed among the lenders under the Excel Vessel Bridge Facility and Excel Vessel CiT Facility, the Excel Collateral Vessels also secured the Excel Vessel Bridge Facility on a second-priority basis. On December&amp;#160;10, 2014, the Company drew $30,000 under the Excel Vessel CiT Facility. The borrowers under the Excel Vessel CiT Facility were the various vessel-owning subsidiaries that own the Excel Collateral Vessels and Star Bulk Carriers Corp. was the guarantor. The Excel Vessel CiT Facility would mature in December&amp;#160;2016 and was subject to quarterly amortization payments of $500, commencing on March&amp;#160;31, 2015, with a balloon payment equal to the outstanding amount under the Excel Vessel CiT Facility payable simultaneously with the last quarterly installment.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 10, 2015, the Company fully repaid the Excel Vessel CiT Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;r)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Sinosure Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December 22, 2014, the Company executed a binding term sheet with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc (the &amp;#147;Sinosure Facility&amp;#148;) for the financing of an aggregate amount of up to $156,453 to partially finance the construction cost of eight newbuilding vessels, &lt;i&gt;Honey Badger (ex-HN NE 164)&lt;/i&gt;, Wolverine (ex-HN NE 165), Star Antares (ex-HN NE 196), &lt;i&gt;Star Lutas&lt;/i&gt; (ex-HN NE 197), HN 1080 (tbn &lt;i&gt;Kennadi&lt;/i&gt;), HN 1081 (tbn &lt;i&gt;Mackenzie&lt;/i&gt;), HN 1082 (tbn &lt;i&gt;Night Owl&lt;/i&gt;) and HN 1083 (tbn &lt;i&gt;Early Bird&lt;/i&gt;) (the &amp;#147;Sinosure Financed Vessels&amp;#148;). The financing under the Sinosure Facility is available in eight separate tranches, one for each Sinosure Financed Vessel, and is credit insured (95%) by China Export &amp;amp; Credit Insurance Corporation. The final loan documentation for the Sinosure Facility was signed on February 11, 2015. Each tranche, which is documented by a separate credit agreement, matures twelve years after each drawdown date and is repayable in 48 equal and consecutive quarterly installments. The Sinosure Facility is secured by a first priority cross collateralized mortgage over the Sinosure Financed Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp. &amp;#160;The vessels &lt;i&gt;Honey Badger&lt;/i&gt; and &lt;i&gt;Wolverine&lt;/i&gt; were delivered to the Company in February 2015. The vessel &lt;i&gt;Star Antares &lt;/i&gt;was delivered to the Company in&lt;i&gt; &lt;/i&gt;October 2015&lt;i&gt;. &lt;/i&gt;The vessels&lt;i&gt; Star Lutas &lt;/i&gt;and &lt;i&gt;Kennadi&lt;/i&gt; were delivered to the Company in early January 2016 and the vessel &lt;i&gt;Mackenzie&lt;/i&gt; was delivered to the Company in March 2016 (Note 20)&lt;i&gt;.&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On September 2, 2015, the Company signed a supplemental letter agreement with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc to amend certain covenants governing the existing credit agreements from June 26, 2015 until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;s)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Citi Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December&amp;#160;22, 2014, the Company entered into a credit facility with Citibank, N.A., London Branch (the &amp;#147;Citi Facility&amp;#148;) to provide financing in an amount of up to $100,000, in lieu of the Excel Vessel Bridge Facility, in connection with the acquisition of vessels &lt;i&gt;Star Pauline (ex-Sandra)&lt;/i&gt;, &lt;i&gt;Star Despoina (ex-Lowlands Beilun)&lt;/i&gt;, &lt;i&gt;Star Angie&lt;/i&gt;, &lt;i&gt;Star Sophia&lt;/i&gt;, &lt;i&gt;Star Georgia&lt;/i&gt;, &lt;i&gt;Star Kamila&lt;/i&gt; and &lt;i&gt;Star Nina,&lt;/i&gt; which are seven of the Excel Vessels the Company has acquired (the &amp;#147;Citi Financed Excel Vessels&amp;#148;). The first tranche of $51,477.5 was drawn on December&amp;#160;23, 2014, and the second tranche of $42,627.5 was drawn on January&amp;#160;21, 2015. The Company used amounts drawn under the Citi Facility to repay portion of the Excel Vessel Bridge Facility in respect of those Citi Financed Excel Vessels. The Citi Facility matures on December&amp;#160;30, 2019. The Citi Facility is repayable in 20 equal, consecutive, quarterly principal payments of $3,388, with the first installment due on March&amp;#160;30, 2015 and a balloon installment of $26,349 payable simultaneously with the 20&lt;sup&gt;th&lt;/sup&gt; quarterly installment. The Citi Facility is secured by a first priority mortgage over the Citi Financed Excel 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 30, 2015, the Company signed a supplemental Agreement with Citibank, N.A., London Branch to amend certain covenants governing this agreement until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;t)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Heron Vessels Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In November 2014, the Company entered into a secured term loan agreement with CiT Finance LLC (the &amp;#147;Heron Vessels Facility&amp;#148;), in the amount of $25,311, in order to partially finance the acquisition cost of the two Heron Vessels, &lt;i&gt;Star Gwyneth&lt;/i&gt; and &lt;i&gt;Star Angelina&lt;/i&gt;. The drawdown of the financed amount incurred in December 2014, when the Company took delivery of the Heron Vessels. The facility matures on June 30, 2019, and is repayable in 19 equal consecutive, quarterly principal payments of $744.4 (with the first becoming due and payable on December 31, 2014), and a balloon installment payable at maturity equal to the then outstanding amount of the loan. The facility is secured by a first priority mortgage over the financed vessels and general and specific assignments and is guaranteed by Star Bulk Carrier Corp.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July 1, 2015, the Company signed a supplemental letter with CiT Finance LLC to amend certain covenants governing this agreement from June 30, 2015 until December 31, 2016 and to add the vessel &lt;i&gt;Star Aline&lt;/i&gt; as collateral under this agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;u)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;DNB $120,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December 29, 2014, the Company entered into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA, NIBC Bank N.V and Skandinaviska Enskilda Banken AB as original lenders, mandated lead arrangers and hedge counterparties (the &amp;#147;DNB $120,000 Facility&amp;#148;), to provide financing for up to $120,000, in lieu of the Excel Vessel Bridge Facility, in connection with the acquisition of vessels &lt;i&gt;Star Nasia&lt;/i&gt;, &lt;i&gt;Star Monisha&lt;/i&gt;,&lt;i&gt; Star Eleonora&lt;/i&gt;,&lt;i&gt; Star Danai&lt;/i&gt;, &lt;i&gt;Star Renee&lt;/i&gt;, &lt;i&gt;Star Markella&lt;/i&gt;, &lt;i&gt;Star Laura&lt;/i&gt;, &lt;i&gt;Star Moira&lt;/i&gt;, &lt;i&gt;Star Jennifer&lt;/i&gt;, &lt;i&gt;Star Mariella&lt;/i&gt;, &lt;i&gt;Star Helena&lt;/i&gt; and &lt;i&gt;Star Maria,&lt;/i&gt; which are 12 of the Excel Vessels the Company has acquired (the &amp;#147;DNB Financed Excel Vessels&amp;#148;). The Company drew $88,275 on December 30, 2014, $9,515 in January, 2015, $9,507 in February 2015 and $7,769 in April 2015. The Company used amounts drawn under the DNB $120,000 Facility to repay portion of the amounts drawn under the Excel Vessel Bridge Facility relating to the DNB Financed Excel Vessels. The DNB $120,000 Facility matures in December&amp;#160;2019 and is repayable in 20 equal, consecutive, quarterly principal payments of $4,374, with the first installment due in March&amp;#160;2015, and a balloon installment of $29,160 payable simultaneously with the 20th installment. The DNB $120,000 Facility is secured by a first priority mortgage over the DNB Financed Excel 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a supplemental letter with the lenders under this facility to amend certain covenants governing this agreement until December 31, 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;v)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;DVB $31,000 Facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On May 21, 2015, the Company entered into an agreement with DVB Bank SE (the &amp;#147;DVB $31,000 Facility&amp;#148;) for up to $31,000 to partially finance the construction cost of the newbuilding vessel &lt;i&gt;Deep Blue&lt;/i&gt; (ex-HN 5017). The Company drew $28,680 in May 2015, upon the vessel's delivery to the Company. The facility is repayable 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 24th installment in May 2021. The DVB $31,000 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. In March 2016, this facility was fully repaid following the sale of the vessel &lt;i&gt;Deep Blue&lt;/i&gt; (Note 20).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;w)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;BNP $39,500 Facility: &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&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 &lt;i&gt;Megalodon&lt;/i&gt; (ex-HN5056) and the 2004-built Panamax vessel &lt;i&gt;Star Emily&lt;/i&gt;. The loan agreement was executed on September 14, 2015 (the &amp;#147;BNP $39,500 Facility&amp;#148;). In early 2016, the Company entered into an agreement to sell the newbuilding vessel &lt;i&gt;Megalodon&lt;/i&gt; (ex-HN5056) upon its delivery to the Company (Note 6), and the loan agreement was terminated without having been drawn.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;x)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;DNB-SEB-CEXIM $227,500 Facility&lt;/b&gt;: &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&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 cost of seven newbuilding vessels, &lt;i&gt;Gargantua&lt;/i&gt; (ex-HN166), &lt;i&gt;Goliath&lt;/i&gt; (ex-HN167), &lt;i&gt;Maharaj&lt;/i&gt; (ex-HN184), HN1338 (tbn &lt;i&gt;Star Aries&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 is &amp;#160;available in seven separate tranches, one for each newbuilding vessel. The first tranche of $32,400 and the second and third tranche of $30,300 each were drawn, upon the delivery of the vessels &lt;i&gt;Gargantua, Goliath &lt;/i&gt;and &lt;i&gt;Maharaj &lt;/i&gt;in 2015. The fourth tranche of $23,400 was drawn, upon the delivery of the vessel &lt;i&gt;Star Poseidon&lt;/i&gt; in February 2016 (Note 20). The tranches are repayable in 24 quarterly consecutive installments ranging between $367 and $508, with the first becoming due and payable three months from the drawdown date of each tranche and a final balloon installment for each tranche, ranging between $14,587 million and $20,198 million, payable simultaneously with the 24th&amp;#160;installment. 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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On June 29, 2015, the Company signed a supplemental letter with the lenders under this facility to amend certain covenants governing this facility until December 31, 2016. &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:Calibri;font-size:13.3px;color:#000000; "&gt;Following the sale of the &lt;i&gt;Star Aries&lt;/i&gt; and the &lt;i&gt;Star Taurus&lt;/i&gt; (Note 20), the Company will not draw down on two tranches under this facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;y)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Issuance of the 8.00% 2019 Notes:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On November&amp;#160;6, 2014, the Company issued $50,000 aggregate principal amount of 8.00% Senior Notes due 2019 (the &amp;#147;2019 Notes&amp;#148;). The net proceeds were $48,425. The 2019 Notes mature in November&amp;#160;2019 and are senior, unsecured obligations of Star Bulk Carriers Corp. The 2019 Notes are not guaranteed by any of the Company's subsidiaries.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The 2019 Notes bear interest at a rate of 8.00% per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on February 15, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company may redeem the 2019 Notes, in whole or in part, at any time on or after November&amp;#160;15, 2016 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Prior to November&amp;#160;15, 2016, the Company may redeem the 2019 Notes, in whole or in part, at a price equal to 100% of their principal amount plus a make-whole premium and accrued and unpaid interest to the date of redemption. In addition, the Company may redeem the 2019 Notes in whole, but not in part, at any time, at a redemption price equal to 100% of their principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, if certain events occur involving changes in taxation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The indenture governing the 2019 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee or the holders of not less than 25% in aggregate principal amount of the 2019 Notes then outstanding may declare the entire principal amount of all the 2019. Notes plus accrued interest, if any, to be immediately due and payable. Upon certain change of control events, the Company is required to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. If the Company receives net cash proceeds from certain asset sales and does not apply them within a specified deadline, the Company will be required to apply those proceeds to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;z)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Credit Facility Covenants:&lt;/b&gt; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company's outstanding credit facilities generally contain customary affirmative and negative covenants, on a subsidiary level, including limitations to:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;incur additional indebtedness, including the issuance of guarantees;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;create liens on its assets;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;change the flag, class or management of its vessels or terminate or materially amend the management agreement relating to each vessel;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;sell its vessels;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;merge or consolidate with, or transfer all or substantially all its assets to, another person; or&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;enter into a new line of business.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 (i) $200,000 or (ii) $2,000 per fleet vessel. 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 occurred and is continuing or would result from such dividend or distribution.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum percentage of aggregate vessel value to loans secured (security cover ratio or &amp;#147;SCR&amp;#148;);&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum EBITDA to interest coverage ratio;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum liquidity; and&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#149;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;a minimum equity ratio&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-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As of December 31, 2014 and 2015, the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $150,000, respectively, which is included within &amp;#147;Cash and cash equivalents&amp;#148; in the accompanying balance sheets. In addition, as of December 31, 2014 and 2015, the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,997, respectively, which is included within &amp;#147;Restricted cash&amp;#148; current and non-current , in the accompanying balance sheets. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As of December 31, 2015, as a result of market conditions, the market value of certain of the Company's vessels was below the minimum SCR required under certain loan agreements. A SCR shortfall does not automatically trigger the acceleration of the corresponding loans or constitute a default under the relevant loan agreements. Under these loan agreements, the Company may remedy an SCR shortfall within a period of 10 to 30 days after it receives notice from the lenders by providing additional collateral or repaying the amount of the shortfall. The Company has not received any notices from the relevant lenders that would indicate their intention to exercise their rights under the SCR provisions of the relevant loan agreements and cause acceleration of respective outstanding loan amounts. As of December 31, 2015, $14,268 which was the amount that could be made repayable under the SCR provisions by the lenders (or &amp;#147;SCR Shortfall Amount&amp;#148;), was reclassified as current portion of long term debt within current liabilities. Apart from this, as of December 31, 2014 and 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The weighted average interest rate related to the Company's existing debt (including the margin) as of December 31, 2013, 2014 and 2015 was 3.34%, 3.53 % and 3.69 %, respectively. The commitment fees incurred during the years ended December 31, 2014 and 2015, with regards to the Company's unused credit facilities were $637 and $3,157, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after December 31, 2015, for all the then outstanding debt, are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Years&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:46px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;112,873&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" 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:Calibri;font-size:13.3px;color:#000000; "&gt;87,826&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" 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:Calibri;font-size:13.3px;color:#000000; "&gt;184,886&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" 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:Calibri;font-size:13.3px;color:#000000; "&gt;326,573&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" 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:Calibri;font-size:13.3px;color:#000000; "&gt;53,620&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;145,960&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total (including 8.00% 2019 Notes)&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:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;911,738&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:466px;height:16px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Excluding 8.00% 2019 Notes &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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" colspan="2" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;861,738&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:505px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:49px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:33px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:101px;"&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" colspan="2" style=" border:solid #000000 0.0px;width:505px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:49px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:33px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:101px;"&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 style="width:466px;"&gt;&lt;/td&gt;
    &lt;td style="width:38px;"&gt;&lt;/td&gt;
    &lt;td style="width:7px;"&gt;&lt;/td&gt;
    &lt;td style="width:30px;"&gt;&lt;/td&gt;
    &lt;td style="width:11px;"&gt;&lt;/td&gt;
    &lt;td style="width:33px;"&gt;&lt;/td&gt;
    &lt;td style="width:49px;"&gt;&lt;/td&gt;
    &lt;td style="width:52px;"&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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The amount of $112,873, which is payable during the next twelve months ending December 31, 2016, does not include the SCR Shortfall Amount of $14,268, which was reclassified as current portion of long term debt as described above. At December 31, 2015, 61 of the Company's 70 owned vessels, having a net carrying value of $1,559,339, were subject to first-priority mortgages as collateral to its loan facilities.&lt;sup&gt; &lt;/sup&gt;In addition four of the Company's bareboat vessels, having a net carrying value of $121,010, were cross-collateral under the Company's bareboat lease agreements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:239px;height:13px;"&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:72px;"&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: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" style=" border:solid #000000 0.0px;width:21px;"&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:72px;"&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: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" style=" border:solid #000000 0.0px;width:28px;"&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:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="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;height:14px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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;&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:28px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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-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:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6,786 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;15,362 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;35,969 &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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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: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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(633) &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: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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(7,838) &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:solid #000000 0.0px;width:28px;"&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(12,079) &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:239px;height:39px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#151;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,055 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,416 &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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Amortization of deferred finance charges &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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;522 &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: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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;681 &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:solid #000000 0.0px;width:28px;"&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,732 &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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;139 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;315 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:28px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;623 &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:239px;height:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:21px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;6,814&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;9,575&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:28px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;29,661&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:96.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In connection with the partial prepayment of Excel Vessel Bridge Facility, $652 of unamortized deferred finance charges were written off and included under &amp;#147;Loss on debt extinguishment&amp;#148; in the accompanying consolidated statement of operations for the year ended December 31, 2014. In addition, 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 were written off and included under &amp;#147;Loss on debt extinguishment&amp;#148; in the accompanying consolidated statement of operations for the year ended December 31, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:96.0px;"&gt;&lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
  <sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock contextRef="FYp0YTD">&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="margin-left: 48.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During 2011, the Company acquired two second-hand Capesize vessels, &lt;i&gt;Star Big&lt;/i&gt; and &lt;i&gt;Star Mega&lt;/i&gt;, with existing time charter contracts. Upon their delivery, the Company evaluated the attached charter contracts by comparing the charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels were delivered and recognized an asset of $23,065. 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 terminated early, and the unamortized balance of $2,114, at June 30, 2015, was written-off. Such amount is reflected under &amp;#147;Loss on time charter agreement termination&amp;#148; in the accompanying consolidated statement of operations for the year ended December 31, 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As part of the Merger in July 2014, a $1,967 intangible asset was recognized corresponding to a fair value adjustment for two favorable time charters under which Oceanbulk was the lessor at the time of acquisition, with respect to vessels &lt;i&gt;Amami &lt;/i&gt;and &lt;i&gt;Madredeus,&lt;/i&gt; as further discussed in Note 1.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, for three Excel Vessels &lt;i&gt;Star Martha (ex Christine)&lt;/i&gt;, &lt;i&gt;Star Pauline (ex Sandra)&lt;/i&gt; and &lt;i&gt;Star Despoina (ex Lowlands Beilun)&lt;/i&gt;, which were transferred to the Company subject to existing charters, the Company recognized an asset of $8,076, since it determined that the respective charters were favorable comparing to the existing charter rates.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;For the years ended December 31, 2013, 2014 and 2015, the amortization of fair value of the above market acquired time charters amounted to $6,352, $6,113 and $9,540, respectively, and is included under &amp;#147;Voyage revenues&amp;#148; in the accompanying consolidated statements of operations. The accumulated amortization of these above market time charters as of December 31, 2014 and 2015 was $21,200 and $30,740, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The carrying amount of the above market acquired time charters amounting to $254 as of December 31, 2015 will be amortized on a straight line basis to revenues through the end of the corresponding charter parties, over a weighted-average period of 0.28 years 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:269px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:269px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;254&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:101px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:196px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;254&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock>
  <sblk:AdvancesForVesselsAcquisitionsTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;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&lt;/b&gt; &lt;b&gt;acquisition of vessels:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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:238px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pre-delivery yard installments and 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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;408,870 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;65,009 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Bareboat capital leases -&amp;#160;upfront hire &amp;amp; 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;&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:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&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:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;54,428 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Capitalized interest and finance costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;6,301 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other capitalized costs (Note 3)&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;2,172 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:238px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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;&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:Calibri;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:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&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:Calibri;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:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;127,910 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As summarized in the relevant table of Note 1, as of December 31, 2015, the Company was party to 19 newbuilding contracts or lease arrangements (as further discussed below) for the construction of dry bulk carriers of various types, 11 of which were assumed as part of the Merger and the Pappas Transaction. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In 2015, the Company entered into separate agreements with third parties to sell upon their delivery from the shipyard the newbuilding vessels &lt;i&gt;Behemoth,&lt;/i&gt; &lt;i&gt;Bruno Marks, Jenmark, Star Aries&lt;/i&gt; and &lt;i&gt;Star Taurus&lt;/i&gt;. The first two of these vessels were delivered to purchasers in January 2016, upon their delivery to the Company, while the remaining three will be delivered by the end of April 2016. In early 2016, the Company entered into an agreement to sell upon its delivery from the shipyard the newbuilding vessel &lt;i&gt;Megalodon&lt;/i&gt; (ex-HN 5056). The vessel was delivered to its new owners in January 2016. None of these vessels met the 'held-for-sale' classification criteria as of December 31, 2015, as none of them was considered available for immediate sale in its present condition at that date. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During 2015 and in early 2016 the Company reached an agreement in principle with certain shipyards to defer the delivery and reduce the purchase price of certain newbuilding vessels. The estimated delivery dates disclosed in the tables of Note 1 take effect of these negotiations. These agreements are subject to execution of final documentation by both parties. The aggregate agreed reduction to the purchase price was $64,508. In addition, an amount of $187,695, regarding capital expenditures due in 2016, was deferred to 2017 and 2018. Taking into effect the outcome of these negotiations, as of December 31, 2015, the total aggregate remaining contracted price for the 19 newbuilding vessels plus agreed extras was $619,223, of which $431,527 is payable during the next twelve months ending December 31, 2016, and the remaining $113,366 and $74,330 is payable during the years ending December 31, 2017 and 2018, respectively. An amount of $84,600, $77,100 and $38,400, respectively, will be financed through bareboat capital lease arrangements, as discussed below, the commitments of that are reflected in Note 17.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 &amp;#147;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 $43,200 and $40,000, respectively, 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.&lt;sup&gt; &lt;/sup&gt;In addition, the Company will pay an 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 due one year later was paid in 2015. 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 $12,960 and $12,000, 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.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In addition, following the completion of the Merger and the Pappas Transactions the Company also assumed bareboat charters with respect to five newbuilding vessels being built at SWS for subsidiaries of Oceanbulk at the time of the Merger. On December 27, 2013, subsidiaries of Oceanbulk 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. As of December 31, 2015, the Company expects that only three of these vessels will still be delivered. 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 ranging from $40,000, to $43,200 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. In addition, the Company will pay for the three newbuilding vessels an aggregate amount of $1,008 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 ranging from $12,000 to $12,960. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the three vessels.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:5.0px;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-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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, $15,669 paid up to December 31, 2015, representing upfront hire and handling fees for the newbuilding vessels, including those vessels delivered during this period, has been capitalized and is included under &amp;#147;Advances for vessels under construction and acquisition of vessels&amp;#148;. 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. 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:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On August 31, 2015, the Company entered into a non-binding term sheet for the sale of one of its newbuilding contract (HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;)) and a 10-year lease back arrangement with CSSC, in order to finance up to $40,000 for the vessel's delivery installment. The final agreements, which include the memorandum of agreement and bareboat lease agreement, are expected to be signed in March 2016. Pursuant to the terms of the bareboat charter, the Company will pay a fixed bareboat charter hire rate payable monthly plus a variable amount. In addition, the Company will also pay $500 representing handling fees in two installments. Under the terms of the bareboat charter, the Company has the option to purchase the vessel at any time, such option being exercisable on a monthly basis against pre-determined, amortizing-during-the-charter-period prices, while it has a respective obligation of purchasing the vessel at the expiration of the bareboat term at a purchase price of $12,060. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charter, the Company will own the vessel. Based on applicable accounting guidance, the Company determined that the bareboat charter for HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;) should be classified at the time of the beginning of the lease (i.e. at the delivery of the vessel expected in January 2018) as capital lease. The Company is deemed to retain substantially all of the benefits and risks incident to the ownership of the sold vessel. Accordingly, the sale-leaseback transaction is merely a financing and will be accounted for as such upon the delivery of the vessel. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During the year ended December 31, 2015, the Company agreed to reassign the leases for two newbuilding vessels back to the vessels' owner for a one-time refund to the Company of $5,800 each.&lt;sup&gt; &lt;/sup&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:AdvancesForVesselsAcquisitionsTextBlock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;5.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Vessels and other fixed assets, net:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,641,603&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,025,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:18px;"&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,683&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-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,810&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,643,286&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,027,498&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Accumulated depreciation&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(201,435&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri;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:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(269,946&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels and other fixed assets, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;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:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,757,552&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed during the year ended December 31, 2013&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On March 14, 2013, the Company entered into an agreement with a third party to sell the vessel &lt;i&gt;Star Sigma&lt;/i&gt;. The vessel was delivered to its buyers on April 10, 2013. The resulted loss from this sale of $87 is included under &amp;#147;Loss on sale of vessel&amp;#148; in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On November 5, 2013, the Company entered into two agreements to acquire from two unaffiliated third parties, one 61,462 dwt Ultramax vessel, &lt;i&gt;Star Challenger&lt;/i&gt;, built 2012 and one 61,455 dwt Ultramax vessel, &lt;i&gt;Star Fighter&lt;/i&gt;, built 2013. The vessels were delivered to the Company on December 12, 2013 and December 30, 2013, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed during the year ended December 31, 2014&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On January 24, 2014, the Company entered into two agreements to acquire from Glocal Maritime Ltd, or &amp;#147;Glocal&amp;#148;, an unaffiliated third party, two 98,000 dwt Post-Panamax vessels, &lt;i&gt;Star Vega&lt;/i&gt; and &lt;i&gt;Star Sirius&lt;/i&gt;, built 2011. 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 13, 2014 and March 7, 2014, respectively. The vessels, upon their delivery, were chartered back to Glocal for a daily rate of $15, at least until June 2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Following the completion of the Merger and the Pappas Transaction discussed in Note 1, the Company became the owner of 13 operating vessels (refer to relevant table in Note 1), the fair value of which following the purchase price allocation was estimated at $426,000 (based on Level 2 inputs of the fair value hierarchy). In addition, on July 22, 2014 and on September 19, 2014, the Company took delivery of the vessels &lt;i&gt;Peloreus &lt;/i&gt;and &lt;i&gt;Leviathan&lt;/i&gt;, respectively, two Capesize vessels with a capacity of 182,000 dwt each, built by the Japan Marine United Corporation, or JMU shipyard. The newbuilding contracts for those vessels had been acquired by the Company as part of the Merger. The delivery installment payment of $34,625 for each vessel was partially financed by $32,500 drawn for each vessel under a loan facility with Deutsche Bank AG (Note 8), and the remaining amount of $2,125, for each vessel, was financed by existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pursuant to the Excel Transactions discussed in Note 1, as of December 31, 2014, 28 out of the 34 Excel Vessels had been transferred to the Company, for an aggregate consideration of 25,659,425 common shares (based on Level 1 inputs of the fair value hierarchy) and $248,751 in cash, or a total cost of $501,535, including time charters attached (Note 7). The Company used cash on hand, together with borrowings under various credit facilities, to pay the cash consideration for the Excel Vessels, as further discussed in Note 8.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As further discussed in Note 3, on November 11, 2014, the Company entered into two separate agreements with Heron to acquire the vessels &lt;i&gt;Star Gwyneth &lt;/i&gt;(&lt;i&gt;ex-ABYO Gwyneth&lt;/i&gt;) and &lt;i&gt;Star Angelina &lt;/i&gt;(&lt;i&gt;ex-ABYO Angelina&lt;/i&gt;), which were delivered to the Company on December 5, 2014. The cost for the acquisition of these vessels was determined based on the fair value of the 2,115,706 common shares issued on July 11, 2014, in connection with the Heron Transaction, of $25,080 (Level 1) and the amount of $25,000 financed by the Heron Vessels Facility (Note 8), according to the provisions of the Merger Agreement with respect to these acquisitions, as further discussed in Note 17.2.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On December 17, 2014, the Company entered into an agreement with a third party to sell the vessel &lt;i&gt;Star Kim&lt;/i&gt;, one of the Excel Vessels, at market terms which also approximated the vessel's net book value. The vessel did not meet the 'held-for-sale' classification criteria as of December 31, 2014, as it was not considered available for immediate sale in its present condition. &amp;#160;The sale was completed on January 21, 2015 when the vessel was delivered to its new owner. As of December 31, 2014, the Company had received an advance payment from the buyers amounting to $1,100, which is included under &amp;#147;Advances from sale of vessel&amp;#148; in the accompanying consolidated balance sheet as of December 31, 2014. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed during the year ended December 31, 2015&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(i) &amp;#160;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 (Note 8). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(ii) &amp;#160;&amp;#160;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 the &lt;i&gt;Honey Badger&lt;/i&gt; and the &lt;i&gt;Wolverine&lt;/i&gt; under the Sinosure Facility (Note 8). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(iii) &amp;#160;&amp;#160;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 with Jiangsu Yangzijiang Shipbuilding Co. Ltd. (&amp;#147;New Yangzijiang&amp;#148;). As further discussed below, the Company accounts for these bareboat charter agreements as capital leases.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(iv) &amp;#160;&amp;#160;On April 2, 2015, the Company took delivery of the Newcastlemax vessel &lt;i&gt;Gargantua&lt;/i&gt; (ex-HN 166). On July 15, 2015, the Company took delivery of the Newcastlemax vessels Goliath (ex-HN 167) and Maharaj (ex-HN 184). The delivery installments of $113,046 were partially financed by $93,000 drawn down under the DNB-SEB-CEXIM $227,500 Facility (Note 8), and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(v) &amp;#160;&amp;#160;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 (Note 8), and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(vi) &amp;#160;&amp;#160;On July 22, 2015 and on August 7, 2015, the Company took delivery of the Ultramax vessels &lt;i&gt;Star Aquarius&lt;/i&gt; (ex-HN 5040) and &lt;i&gt;Star Pisces&lt;/i&gt; (ex-HN5043). The delivery installments of $20,359 and $20,351, respectively, were partially financed by $15,237 drawn under the NIBC $32,000 Facility (Note 8) for each vessel, and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(vii) &amp;#160;&amp;#160;On October 9, 2015, the Company took delivery of the Ultramax vessel &lt;i&gt;Star Antares&lt;/i&gt; (ex-HN 196). The delivery installment of $19,770 was partially financed by $16,738 drawn under the Sinosure Facility (Note 8), and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During the year ended December 31, 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:0.0px;"&gt;&lt;font style="font-family:Calibri;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:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;During 2015 and early 2016, the Company entered into various separate agreements with third parties to sell 16 of the Company's vessels (&lt;i&gt;Star Big, Star Mega, Maiden Voyage, Star Natalie, Star Tatianna, Star Christianna, Star Monika, Star Julia, Star Nicole, Rodon, Star Claudia, Indomitable, Magnum Opus, Tsu Ebisu, Deep Blue and Obelix)&lt;/i&gt;. Of these vessels, 12 were delivered to their purchasers in 2015, while the remaining four (&lt;i&gt;Indomitable, Magnum Opus, Tsu Ebisu, and Deep Blue&lt;/i&gt;) were delivered to their purchasers in 2016 (Note 20). None of these four vessels met the 'held-for-sale' classification criteria as of December 31, 2015, as none of them were considered available for immediate sale in their present condition at that date. In addition, as discussed above, in late December 2014 the Company agreed to sell the vessel &lt;i&gt;Star Kim&lt;/i&gt;, which was delivered to its owner in early 2015. As part of these sales (other than the sale of the vessel &lt;i&gt;Maiden Voyage&lt;/i&gt; which is separately discussed below), the Company recognized a net loss on sale of $20,585, which is separately reflected in the accompanying statement of operations for the year ended December 31, 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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 (currently named &lt;i&gt;Astakos&lt;/i&gt;) was leased back to the Company under a time charter for two years. The vessel was delivered to its new owner on September 15, 2015 and the Company became the charterer of the vessel on the same date. The lease back did not meet the lease classification test for a capital lease and is accounted for as operating lease. Pursuant to the applicable accounting guidance for sale and lease back transactions, the net gain from the sale of &lt;i&gt;Maiden Voyage&lt;/i&gt; of $148 was deferred and is being amortized in straight line over the lease term. The net book value of this deferred gain as of December 31, 2015 is $126 and is reflected within &amp;#147;Other non-current liabilities&amp;#148; in the accompanying consolidated balance sheet, while amortization of this deferred gain as of December 31, 2015 is $22 and is included within &amp;#147;Charter-In Hire expenses&amp;#148; in the accompanying consolidated statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:0.0px;"&gt;&lt;font style="font-family:Calibri;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, is &amp;#160;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 year ended December 31, 2015. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. As a result, in accordance with the applicable capital lease accounting guidance, the Company recorded a financial liability and a financial asset equal to the present value of the minimum lease payments at the time of the vessel's delivery, when the term of the lease was deemed to begin. The net book value of these vessels (which includes the upfront fees paid by the Company until the delivery of the vessel, net of accumulated depreciation) recorded as of December 31, 2015 is reflected within &amp;#147;Vessels and other fixed assets, net&amp;#148; in the accompanying consolidated balance sheet. The charge resulting from amortization of these leased assets is included within &amp;#147;Depreciation expense&amp;#148; in the accompanying consolidated statement of operations. &amp;#160;The interest expense on the financial liability related to these capital leases as of December 31, 2015 was $3,088 and is included within &amp;#147;Interest and finance costs&amp;#148; in the accompanying consolidated statement of operations. As of December 31, 2015 the net book value of the vessels was $120,992, with accumulated amortization of $3,056. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after December 31, 2015, for the outstanding capital lease obligations, 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:338px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;11,437&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&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: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:Calibri;font-size:13.3px;color:#000000; "&gt;51,832&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;101,559&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:338px;height:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;22,039&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;79,520&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:338px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;4,490&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;75,030&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Impairment Analysis&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As a result of the decline in charter rates and vessel values during the previous years and since market expectations for future rates were low and vessel values were unlikely to increase to the high levels of 2008, the Company reviewed the recoverability of the carrying amount of its vessels in 2013, 2014 and 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company's impairment analysis for 2013 and 2014 indicated that the carrying amount of the Company's vessels was recoverable, and therefore the Company concluded that no impairment charge was necessary. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;As part of the sales agreed in 2015 and 2016, as discussed above and in Notes 6 and 20 below, the Company recognized an impairment loss of $219,400. In addition, in light of the continued economic downturn and the prevailing conditions in the shipping industry, as of December 31, 2015, the Company performed an impairment analysis for each of its operating vessels and newbuildings whose carrying value was above its market value. Based on the Company's impairment analysis framework described in Note 2(n) above, the future undiscounted projected net operating cash flows for certain of its vessels over their operating life were below their carrying value. In estimating each vessel's projected cash flows, the Company also took into consideration the possibility of a sale of certain additional operating vessels and newbuildings (with a net book value as of December 31, 2015 of $119,591), to the extent that attractive sale prices will be attainable. After completing its impairment analysis, the Company recognized an additional impairment loss of $102,578.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The total impairment charge for the year ended December 31, 2015 is separately reflected in the accompanying consolidated statement of operations (Note 19).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:96.0px;"&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-align:justify;margin-bottom:12.0px;text-indent:96.0px;"&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:InventoryDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;4. &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories: &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:108px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7,438&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6,809&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,247&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Basis of Presentation and General Information:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The accompanying consolidated financial statements as of and for the years ended December 31, 2013, 2014 and 2015, include the accounts of Star Bulk Carriers Corp. (&amp;#147;Star Bulk&amp;#148;) and its wholly owned subsidiaries as set forth below (collectively, the &amp;#147;Company&amp;#148;).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Bulk was incorporated on December 13, 2006 under the laws of the Marshall Islands and maintains executive offices in Athens, Greece. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. Since December 3, 2007, Star Bulk shares trade on the NASDAQ Global Select Market under the ticker symbol SBLK.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;The July 2014 Transactions&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On July 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;Oceanbulk Sellers&amp;#148; or &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;). 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. Millennia Holdings is an entity that is affiliated with the family of Mr. 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:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The agreement governing the Merger, the &amp;#147;Merger Agreement&amp;#148;, 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. Oceanbulk Shipping at the time of the Merger had an outstanding loan receivable of $23,680 from Heron that was convertible into 50% of the equity interests of Heron (the &amp;#147;Heron Convertible Loan&amp;#148;). The Heron Convertible Loan was converted into 50% of the equity of Heron on November 5, 2014. The Company issued 2,115,706 of its common shares into escrow as part of the consideration for the acquisition of the Heron Vessels. The common shares were released from escrow to the Sellers on January 30, 2015, following the transfer of the Heron Vessels to the Company on December 5, 2014 (Note 5). In addition to the issued shares, upon the delivery of the Heron vessels the Company paid $25,000 in cash, which was financed by the Heron Vessels Facility (described in Note 8t), which the Company had entered in November 2014. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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. Pappas. 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 (&lt;i&gt;Indomitable &lt;/i&gt;- ex-HN 5016), which was delivered in January 2015. The Merger, the Heron Transaction and the Pappas Transaction are referred to, together, as the &amp;#147;July 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:Calibri;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:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Merger and the Pappas Transaction have been reflected in the Company's consolidated financial statements for the year ended December 31, 2014, as purchases of businesses pursuant to Financial Accounting Standards Board (&amp;#147;FASB&amp;#148;) Accounting Standards Codification (&amp;#147;ASC&amp;#148;) 805, &amp;#147;&lt;i&gt;Business Combinations&lt;/i&gt;&amp;#148;, and the results of operations of Oceanbulk and the Pappas Companies have been included in the accompanying consolidated statement of operations since July 11, 2014, the date the Merger and the Pappas Transaction were completed. The following table summarizes the estimated fair values of the significant assets acquired and liabilities assumed by the Company on the date of the acquisition with respect to the Merger and the Pappas Transaction:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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:515px;height:15px;"&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:104px;"&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;July 11, 2014&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Assets&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:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Cash and cash equivalents&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &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;&amp;#160;&amp;#160;89,887&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Restricted cash&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;6,381&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other current assets&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;13,906&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Advances for vessel acquisition and vessels under construction&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;316,786&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Vessels&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;426,000&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Fair value of above market acquired charters&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;1,967&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets acquired&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;854,927&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;&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:515px;height:15px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;12,372&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Long-term debt, including current portion&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;208,237&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Derivative financial liabilities&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;5,728&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities assumed&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;226,337&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;&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:515px;height:15px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Net assets acquired&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;628,590&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;&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:515px;height:15px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;616,272&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Gain from Bargain Purchase&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;&amp;#160;&amp;#160;12,318&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;&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:515px;height:15px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:104px;"&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;/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:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The purchase price allocation was prepared by the Company, assisted by a third party expert, based on management estimates and assumptions, making use of available market data and taking into consideration third party valuations. Major adjustments to record the acquired assets and assumed liabilities at fair value include:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(a) a $158,523 fair value adjustment recognized for vessels under construction, as supported by vessel valuations of independent shipbrokers on a fully delivered and charter free basis, through Level 2 of the fair value hierarchy based on observable inputs, prevailing in the sale and purchase market of similar vessels on June&amp;#160;23, 2014, which, according to the third party appraiser and management estimates and based on the then current market trends were not &amp;#160;materially different from the values on July 11, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(b) a $79,465 fair value adjustment recognized for vessels in operation, as supported by vessel valuations of independent shipbrokers on a charter free basis, through Level 2 of the fair value hierarchy based on observable inputs, prevailing in the sale and purchase market of similar vessels on June 23, 2014, which, according to the third party appraiser and management estimates and based on the then current market trends were not materially different from the values on July 11, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(c) a write-off of the Heron Convertible Loan of $23,680, as further discussed below, on the basis that no economic benefit is expected to be provided to the Company from Heron's liquidation process (other than the distribution of the Heron Vessels in exchange for separate consideration of 2,115,706 common shares and $25,000 in cash) with any distributable cash from the liquidation of Heron to be transferred to the former owners of Oceanbulk Shipping as further discussed in Note 17.2;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(d) a write-off of $3,003 deferred finance costs with respect to financing arrangements that, according to the third party appraiser and management estimates, are not expected to provide any ongoing benefit to the business;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(e) a $1,967 intangible asset recognized with respect to a fair value adjustment for two favorable charters under which Oceanbulk is the lessor, through Level 2 of the fair value hierarchy based on observable inputs, by comparing the discounted cash flows under the existing charters with those that could be obtained in the then current market by vessels of similar size and age for the remaining charter period. &amp;#160;The respective intangible asset will be amortized on a straight-line basis over the remaining period of the time charters which are scheduled to end during the first and second quarter of 2016 (please refer to Note 7).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The fair value of the share consideration issued in the July 2014 Transactions was based on the market price of $11.854 per share of the Company's common shares.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The resulting gain from bargain purchase from the acquisition of Oceanbulk and the Pappas Companies of $12,318 is separately presented in the accompanying consolidated statement of operations for the year ended December 31, 2014. The gain from bargain purchase is primarily attributable to the estimates of the fair value of the assets acquired and liabilities assumed and the subsequent stability or slightly declining market value of dry bulk carrier vessels since the signing of the agreements relating to the July 2014 Transactions, combined with the simultaneous decline in stock prices for most U.S. listed shipping companies, including Star Bulk, which had at the time of the Merger decreased by a greater amount than their net asset values.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The following unaudited financial information reflects the results of operations of Oceanbulk and Pappas Companies since the acquisition date included in the Company's consolidated statement of operations for the year ended December 31, 2014:&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:298px;height:25px;"&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:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Oceanbulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&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:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Pappas Companies&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:298px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Voyage revenues&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:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&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:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;39,585 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,249 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Operating income/(loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(645&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&gt;&lt;font style="font-family:Calibri;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:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;111 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Net loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(4,822&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&gt;&lt;font style="font-family:Calibri;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:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(213&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&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;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-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The following unaudited pro forma consolidated financial information reflects the results of operations for the years ended December 31, 2013 and 2014, as if the Merger and the Pappas Transaction had been consummated on January 1, 2013 and after giving effect to purchase accounting adjustments, including the nonrecurring pro forma reversal of: (i) the gain from bargain purchase of $12,318 in 2014; (ii) all acquisition-related transaction costs of $12,757 in 2014; and (iii) the interest expense of $1,412 in 2013 and $1,816 in 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 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. &amp;#160;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="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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:296px;height:15px;"&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:29px;"&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:101px;"&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:48px;"&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:32px;"&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:130px;"&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:296px;height:15px;"&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:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&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:296px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma revenues &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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;82,090 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;177,654 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma operating loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1,172&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;font style="font-family:Calibri;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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(10,296&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma net loss &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(10,604&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;font style="font-family:Calibri;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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(24,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma loss per share, basic and diluted &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(0.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;font style="font-family:Calibri;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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(0.27&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&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;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-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Heron Transaction has been reflected in the Company's consolidated financial statements for the year ended December 31, 2014, as a purchase of assets with the acquisition cost of the two Heron Vessels delivered on December 5, 2014, consisting of the value of the 2,115,706 common shares issued on July 11, 2014, of $25,080, and $25,000 in cash, financed by the Heron Vessels Facility &amp;#160;(Note 17.2) being recorded within &amp;#147;Vessels and other fixed assets, net&amp;#148; in the accompanying consolidated balance sheets, net of accumulated depreciation (Note 5). As discussed above, as part of the purchase price allocation as of July 11, 2014, the Company assigned zero value to the Heron Convertible Loan, as no economic benefit is expected to be provided to the Company from Heron's liquidation process, since any distributable cash from the liquidation of Heron will be transferred to the former owners of Oceanbulk Shipping and not to the Company as further discussed in Note 17.2 below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On September 5, 2014, Oceanbulk Shipping, which became, following the Merger a wholly owned subsidiary of Star Bulk, entered into a term sheet with ABY Group Holdings Limited (&amp;#147;ABY Group&amp;#148;) and Heron. The term sheet provided for the conversion of the Heron Convertible Loan. Among other things, the term sheet contained customary governance provisions and provisions relating to the liquidation of Heron following the conversion of the Heron Convertible Loan. &amp;#160;Under the term sheet, Oceanbulk Shipping received as a distribution the vessels &lt;i&gt;Star Gwyneth (ex-ABYO Gwyneth&lt;/i&gt;) and &lt;i&gt;Star Angelina (ex-ABYO Angelina&lt;/i&gt;) (two Kamsarmax vessels of 82,790 dwt and 82,981 dwt, respectively), and ABY Group received, as a distribution, the &lt;i&gt;ABYO Audrey&lt;/i&gt; (a Capesize vessel of 175,125 dwt) and the &lt;i&gt;ABYO Oprah&lt;/i&gt; (a Kamsarmax vessel of 82,551 dwt). On November 5, 2014, the conversion of the Heron Convertible Loan into 50% of the equity interests of Heron was completed. However, such conversion did not affect the Company's financial statements since, as further discussed above and in Note 17.2, pursuant to the provisions of the Merger Agreement, the former owners of Oceanbulk will effectively remain the ultimate beneficial owners of Heron until Heron is dissolved and any distributable cash from the liquidation of Heron will be transferred to the former owners of Oceanbulk Shipping and not to the Company. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company incurred transaction costs and a stock based compensation expense relating to the July 2014 Transactions of $9,364 and $1,808, respectively, which are included in &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statement of operations for the year ended December 31, 2014.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;The Excel Transactions&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;On August 19, 2014, the Company entered into definitive agreements with Excel Maritime Carriers Ltd. (&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 (Note 3). The Excel Vessels were transferred to the Company in a series of closings, on a vessel-by-vessel basis, in general upon reaching port after their current voyages and cargoes were discharged. The last Excel Vessel was delivered to the Company in April 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In the case of three Excel Vessels (&lt;i&gt;Star Martha &lt;/i&gt;(ex&lt;i&gt; Christine&lt;/i&gt;), &lt;i&gt;Star Pauline &lt;/i&gt;(ex &lt;i&gt;Sandra&lt;/i&gt;) and &lt;i&gt;Star Despoina &lt;/i&gt;(ex&lt;i&gt; Lowlands Beilun&lt;/i&gt;)), which were transferred subject to existing charters, the Company acquired the outstanding equity interests of the vessel-owning subsidiaries that own those Excel Vessels (although all other assets and liabilities of such vessel-owning subsidiaries remained with Excel). The delivery of each Excel Vessel has been reflected in the Company's financial statements as a purchase of assets.&lt;/font&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;At the transfer of each Excel Vessel, the Company paid the cash and share consideration for such Excel Vessel to Excel. The Company used cash on hand, together with borrowings under (i) a $231,000 secured bridge loan facility (the &amp;#147;Excel Vessel Bridge Facility&amp;#148;) provided to the Company by Excel's majority equity holders, which are entities affiliated with Oaktree and entities affiliated with Angelo, Gordon &amp;amp; Co. (&amp;#147;Angelo, Gordon&amp;#148;), or (ii) other bank borrowings, to fund part of the cash consideration for the acquisition of the Excel Vessels (Notes 3 and 8). Excel used the cash consideration to cause an amount of outstanding indebtedness under its senior secured credit agreement to be repaid, such that all liens and obligations with respect to each transferred Excel Vessel were released upon its transfer to the Company.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Below is the list of the Company's wholly owned subsidiaries as of December 31, 2015:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Subsidiaries owning vessels in operation at December 31, 2015&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:141px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:214px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:63px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Date&lt;/b&gt;&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:Calibri;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:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border:solid #000000 0.0px;width:19px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;1 &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:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sea Diamond Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Goliath (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;209,537&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 15, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;2 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Pearl Shiptrade LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April 2, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;3 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Coral Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Maharaj (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;209,472&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 15, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;4 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Deep Blue (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;May 27, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;5 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Ocean Maritime LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;19, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;6 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Horizon Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;22, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;7 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Positive Shipping Company&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Indomitable (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 8, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;8 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;OOCape1 Holdings LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Obelix (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;9 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sandra Shipco LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Pauline &amp;#160;(ex Sandra) (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;10 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Christine Shipco LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Martha (ex Christine) (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 31, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;11 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Pacific Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;12 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Borealis LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;9, 2011&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;13 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Polaris LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November&amp;#160;14, 2011&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;14 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident V LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;15 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sky Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;16 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Global Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;17 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sea Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;18 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Aurora LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;8, 2010&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;19 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Lowlands Beilun Shipco LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Despoina &amp;#160;(ex Lowlands Beilun) (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;20 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident VII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 3, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;21 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident VI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 2, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;22 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Nautical Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;23 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Majestic Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;24 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Sirius LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;March&amp;#160;7, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;25 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Vega LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February&amp;#160;13, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;26 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Alta I LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 5, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;27 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Alta II LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 5, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;28 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Kamila (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;3, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;29 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Grain Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;30 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XIX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November 5, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;31 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;32 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident IX LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 21, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;33 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 14, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;34 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident VIII LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 31, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;35 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XVI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;19, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;36 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XIV LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November 19, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;37 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XVIII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 5, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;38 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident X LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 18, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;39 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;August&amp;#160;29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;40 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XIII LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 8, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;41 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April 15, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;42 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XVII LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 29, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;43 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Mineral Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;44 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;KMSRX Holdings LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Magnum Opus (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;45 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Dioriga Shipping Co.&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Tsu Ebisu (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;46 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;8, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;47 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident IV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;4, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;48 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XX LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;16, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;49 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XXV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November 7, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;50 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Spring Shipping LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Idee Fixe (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;March 25, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;51 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Orion Maritime LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Roberta (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;March 31, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;52 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Success Maritime LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Laura (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April 7, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;53 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultra Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Kaley (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;June 26, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;54 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;12, 2013&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;55 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;30, 2013&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;56 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Aurelia Shipping LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;61,320&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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 27, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;57 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Rainbow Maritime LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;61,292&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 27, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;58 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;61,258&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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 9, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;59 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Aquarius&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;60,916&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 22, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;60 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Pisces&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;60,916&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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;August 7, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;61 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Glory Supra Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;62 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Omicron LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April&amp;#160;17, 2008&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;63 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Gamma LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Gamma &lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January&amp;#160;4, 2008&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;64 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Zeta LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Zeta &lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January&amp;#160;2, 2008&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;65 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Delta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Delta &lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January&amp;#160;2, 2008&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;66 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Theta LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Theta &lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;6, 2007&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;67 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Epsilon LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Epsilon &lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;3, 2007&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;68 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Cosmo LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;1, 2008&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;69 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Kappa LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Kappa&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;14, 2007&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;70 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XXX LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Michele (2)&lt;/i&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:justify;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 14, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;1998&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;height:15px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:141px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:214px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total dwt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;7,362,579&lt;/b&gt;&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:Calibri;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:89px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:4.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:Calibri;font-size:13.3px;color:#000000; "&gt;(4) &amp;#160;&amp;#160;Vessels agreed to be sold (Note 20) &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Subsidiaries owning newbuildings at December 31, 2015&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:26px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:232px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Expected Delivery Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;1 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Ennea LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN NE 198 (tbn &lt;i&gt;Star Poseidon&lt;/i&gt;) (Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;2 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Seeker LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1372 (tbn &lt;i&gt;Star Libra&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;3 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Clearwater Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1359 (tbn &lt;i&gt;Star Marisa&lt;/i&gt;) (5) (Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;4 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;5 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Domus Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1360 (tbn &lt;i&gt;Star Ariadne&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;6 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Breezer LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1371 (tbn &lt;i&gt;Star Virgo&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;7 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;) (7)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;8 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Festive Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;9 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Confidence Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 5055 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Behemoth) &lt;/i&gt;(6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;10 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Runner Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 5056 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Megalodon) &lt;/i&gt;(6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;11 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Olympia Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1312 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Bruno Marks) &lt;/i&gt;(6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;12 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Victory Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1313 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Jenmark)&lt;/i&gt; (6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;13 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1338 (tbn &lt;i&gt;Star Aries&lt;/i&gt;) (6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;14 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1339 (tbn &lt;i&gt;Star Taurus&lt;/i&gt;) (6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;15 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Blooming Navigation LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1080 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Kennadi) &lt;/i&gt;(Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;16 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Jasmine Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1081 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Mackenzie) &lt;/i&gt;(Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;17 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Oday Marine LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:93px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;18 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Searay Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:93px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;19 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN NE 197 (tbn &lt;i&gt;Star Lutas&lt;/i&gt;) (Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2016&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:4.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(5)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subject to a bareboat capital 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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(6)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Newbuilding vessels agreed to be sold (Note 20) &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:Calibri;font-size:13.3px;color:#000000; "&gt;(7)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Newbuilding vessel agreed to be sold and chartered back under a capital 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;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:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Non-vessel owning subsidiaries at December 31, 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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Bulk Shipmanagement Company (Cyprus) Limited&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Optima Shipping Limited&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Omas 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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Synergy 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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXI LLC (8)&lt;sup&gt; &lt;/sup&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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXIV LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXVII LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXXI LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXIX LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXVIII LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXVI LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Lamda LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXII LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXIII LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Alpha LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Beta LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Ypsilon LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Mega LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Big LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Gravity Shipping LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;White Sand Shipping LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(8)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Owning companies of vessels which have been sold and currently have no operations&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: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:0.0px;"&gt;&lt;font style="font-family:Calibri;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 year ended December 31, 2014. &amp;#160;For each vessel, Starbulk S.A. received a fixed management fee of $0.75 per day. Only the vessel &lt;i&gt;Serenity I&lt;/i&gt;, listed in the below table, was under Starbulk S.A's commercial and technical management during the year ended December 31, 2015. As of October 1, 2015, the management fee that the Company received for Serenity I was changed to $0.50 per day. &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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Owning Company&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:128px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&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:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;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:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="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:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC (10)&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:128px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Kymopolia&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;January&amp;#160;30, 2014&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:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;181,433&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pacific Cape Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;177,643&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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Majestic Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Nautical Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Grain Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Mineral Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Renascentia&lt;/i&gt;(11)&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:Calibri;font-size:13.3px;color:#000000; "&gt;74,732&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Marto&lt;/i&gt; (12)&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:Calibri;font-size:13.3px;color:#000000; "&gt;74,470&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Serenity Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;53,688&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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;June&amp;#160;11, 2011&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:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(10)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;These companies were subsidiaries of Oceanbulk and related parties to the Company (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:12.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(11) &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:5.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(12) &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 this vessel. The management agreement was terminated upon the vessel's delivery to its new managers, on August&amp;#160;20, 2014. &amp;#160;The Company received 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-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Below is the vessel which was chartered in as part of the sale and leaseback transaction that the Company has entered into for the previously owned vessel Maiden Voyage, which is currently named &lt;i&gt;Astakos&lt;/i&gt; (Note 5).&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:136px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Vessel Name&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Type&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;DWT&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Year Built&lt;/u&gt;&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:136px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Astakos&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;Supramax&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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;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="middle" style=" border:solid #000000 0.0px;width:136px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total dwt:&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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;58,722&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;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: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;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;No charterer accounted for more than 10% of the Company's voyage revenue in 2015. Charterers who individually accounted for more than 10% of the Company's voyage revenues during the years ended December 31, 2013, 2014 are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;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:68px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Charterer&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:68px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;A&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13%&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;4%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;B&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;34%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;The outstanding accounts receivable balance as at December 31, 2015 of these charterers was $456.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
  <us-gaap:DerivativesPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;y)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Derivatives&lt;/b&gt;: The Company enters into derivative financial instruments to manage risk related to fluctuations of interest rates. In case the instruments are eligible for hedge accounting, at the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed at each reporting date to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. All derivatives are recorded on the balance sheet as assets or liabilities and are measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in their fair value is recorded in Accumulated other comprehensive income / (loss) and is subsequently recognized in earnings, under &amp;#147;Interest and finance costs&amp;#148; when the hedged items impact earnings, while the ineffective portion, if any, is recognized immediately in current period earnings 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-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The changes in the fair value of derivatives not qualifying for hedge accounting are recognized in earnings. The Company discontinues cash flow hedge accounting if the hedging instrument expires or is sold, terminated or exercised and it no longer meets all the criteria for hedge accounting or if the Company de-designates the instrument as a cash flow hedge. At that time, any cumulative gain or loss on the hedging instrument recognized in equity remains in equity until the forecasted transaction occurs or until it becomes probable of not occurring. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in earnings. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is reclassified to earnings for the year. Following the hedging designations made during the third quarter of 2014 (Note 19), all of the Company's interest rates swaps effective as of December 31, 2014 were designated as accounting hedges. Only four out of the nine of the Company's interest rate swaps effective as of December 31, 2015 remained designated as accounting hedges as of that date. No hedge accounting was applied in prior periods.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:DerivativesPolicyTextBlock>
  <us-gaap:LeasePolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;x)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Accounting for leases&lt;/b&gt;: Leases of assets under which substantially all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Lease payments under an operating lease are recognized as an expense on a straight-line method over the lease term. As of December 31, 2015, the Company held no operating lease arrangements acting as lessee other than its office leases and an operating lease arrangement for one Supramax vessel (Note 5). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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;. As of December 31, 2015 the Company was the lessee under certain capital lease arrangements as further discussed in Notes 5 and 6. 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 incurred under a capital lease is included within &amp;#147;Interest and finance costs&amp;#148; in the consolidated statement of operations. The depreciation of vessels under capital lease is included within &amp;#147;Depreciation&amp;#148; in the consolidated statement of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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, 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-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:LeasePolicyTextBlock>
  <us-gaap:SegmentReportingPolicyPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;w)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Segment reporting:&lt;/b&gt;&lt;/i&gt; The Company reports financial information and evaluates its operations and operating results by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the Chief Operating Officer, who is the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment, that of operating dry bulk vessels. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:SegmentReportingPolicyPolicyTextBlock>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;v)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Earnings/ (loss) per share&lt;/b&gt;&lt;/i&gt;&lt;b&gt;:&lt;/b&gt; Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average number of common shares outstanding and vested during the period. Diluted earnings per share reflect the potential dilution assuming that common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and the hypothetical proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note 14).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;u)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Fair value measurements: &lt;/b&gt;&lt;/i&gt;The Company follows the provisions of ASC 820, &amp;#147;Fair Value Measurements and Disclosures&amp;#148; that defines and provides guidance as to the measurement of fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entity's own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 19).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <sblk:RevenueExpenseRecognitionPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;t)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Accounting for revenue and related expenses: &lt;/b&gt;&lt;/i&gt;The Company generates its revenues from charterers for the charterhire of its vessels under time charter agreements, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charterhire rate, or voyage charter agreements, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified freight rate per ton.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Under time charter agreements, voyage costs, such as fuel and port charges are borne and paid by the charterer. Company's time charter agreements are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with guidance related to leases.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Revenue from voyage charter agreements is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter agreements and is recognized when an arrangement exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue includes cash received prior to the balance sheet date and is related to revenue to be earned after such date. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any) as long term liability.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Payments in advance for services are recorded as prepaid expenses.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Voyage expenses consist of bunker consumption, port expenses and agency fees related to the voyage. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Brokerage commissions are paid by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses and vessel operating expenses are recognized as incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Expenses related to the chartering-in of vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage, except for the hire expense for chartering-in the respective vessels, which is included within &amp;#147;Charter in hire expense&amp;#148; in the consolidated statement of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:RevenueExpenseRecognitionPolicyTextBlock>
  <sblk:DryDockingCostsPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;s)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Dry docking and special survey expenses: &lt;/b&gt;&lt;/i&gt;Dry docking and special survey expenses are expensed when incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</sblk:DryDockingCostsPolicyTextBlock>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;r&lt;i&gt;&lt;b&gt;)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Stock incentive plan awards: &lt;/b&gt;&lt;/i&gt;Stock based compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for their services, and is included in &amp;#147;General and administrative expenses&amp;#148; in the consolidated statements of operations. The shares are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. Guidance related to stock compensation describes two generally accepted methods of recognizing expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the ''accelerated method'', which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award and 2) the ''straight-line method'' which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated method.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The fair value of share options 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-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <sblk:PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;q)&lt;/b&gt;&lt;/i&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;i&gt;&lt;b&gt;Pension indemnities:&lt;/b&gt; &lt;/i&gt;Administrative employees are covered by state-sponsored pension funds of Greece. Both employees and the Company are required to contribute a portion of the employees' gross salary to the fund. The related expense is recorded under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations and the corresponding liability at each period end is reflected within &amp;#147;Accounts payable&amp;#148; in the accompanying consolidated balance sheets. Upon retirement, the state-sponsored pension funds are responsible for paying the employees retirement benefits without recourse to the Company.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</sblk:PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock>
  <us-gaap:DebtPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;p)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Financing costs:&lt;/b&gt;&lt;/i&gt; Fees paid to lenders or required to be paid to third parties on the lenders' behalf for obtaining new loans, senior notes or for refinancing or amending existing loans, are recorded as deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the duration of the relevant loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period in which the repayment or refinancing is made, subject to the guidance regarding &lt;i&gt;Debt Extinguishment&lt;/i&gt;. Any unamortized balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the relevant credit facility in the period in which the refinancing occurs&lt;i&gt;.&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:DebtPolicyTextBlock>
  <sblk:VesselsHeldForSalePolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;o)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Vessels held for sale: &lt;/b&gt;&lt;/i&gt;It is the Company's policy to dispose of vessels when suitable opportunities occur. The Company classifies a vessel as being held for sale when all of the following criteria, enumerated under ASC 360 &amp;#147;Property, Plant, and Equipment&amp;#148;, are met: (i) management has committed to a plan to sell the vessel; (ii) the vessel is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the vessel have been initiated; (iv) the sale of the vessel is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the vessel is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded under &amp;#147;Impairment loss&amp;#148; in the accompanying consolidated statement of operations. The vessels are not depreciated once they meet the criteria to be classified as held for sale. At December 31, 2014 and 2015, there were no vessels that met the criteria to be classified as held for sale.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:VesselsHeldForSalePolicyTextBlock>
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;n)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Impairment of long-lived assets: &lt;/b&gt;&lt;/i&gt;The Company follows guidance related to the Impairment or Disposal of long-lived assets which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use and eventual disposition of the asset is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market data and taking into consideration agreed sale prices and third party valuations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;In this respect, the management regularly reviews the carrying amount of the vessels, including newbuilding contracts, on a vessel-by-vessel basis, when events and circumstances indicate that the carrying amount of the vessels or newbuilding contracts might not be recoverable (such as vessel sales and purchases, business plans, obsolescence or damage to the asset and overall market conditions). When impairment indicators are present, the Company compares undiscounted cash flows to the carrying values of the Company's vessels to determine if the assets are impaired. In developing its estimates of future undiscounted net operating cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, ship operating expenses, vessels' residual value, fleet utilization and the estimated remaining useful lives of the vessels, assumed to be 25 years from the delivery of the vessel from the shipyard. These assumptions are based on current market conditions, historical industry and Company specific trends, as well as future expectations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;The undiscounted projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed vessel days and an estimated daily time charter equivalent rate for the unfixed days over the estimated remaining economic life of each vessel, net of brokerage and address commissions. Estimates of the daily time charter equivalent for the unfixed days are based on the current Forward Freight Agreement (&amp;#147;FFA&amp;#148;) rates, for the first three-year period, and historical average rate levels of similar size vessels for the period thereafter. The expected cash inflows from charter revenues are based on an assumed fleet utilization rate of approximately 98% for the unfixed days, taking into account that assumed charter rates are based on time charter equivalent rates, which include the ballast and laden portion of each relevant voyage. In assessing expected future cash outflows, management forecasts vessel operating expenses, which are based on the Company's internal budget for the first annual period and thereafter assume an annual inflation rate of 3% (escalating during the first three-year period), as well as vessel expected maintenance costs (for dry docking and special surveys). The estimated salvage value of each vessel is $0.3 per light weight ton, in accordance with the Company's vessel depreciation policy. &amp;#160;The Company uses a probability weighted approach for developing estimates of future cash flows used to test its vessels for recoverability when alternative courses of action are under consideration (i.e. sale or continuing operation of a vessel). &amp;#160;If the Company's estimate of undiscounted future cash flows for any vessel is lower than the vessel's carrying value, the carrying value is written down to the vessel's fair market value with a charge recorded in earnings.&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:Calibri;font-size:13.3px;color:#000000; "&gt;Using the framework for estimating projected undiscounted net operating cash flows described above, the Company completed its impairment analysis for the years ended December 31, 2013, 2014 and 2015, for those operating vessels and newbuildings whose carrying values were above their respective market values. For 2013 and 2014, no asset impairment was necessary. An impairment loss of $321,978 was recognized for the year ended December 31, 2015, which resulted primarily from the Company's actual and intended vessel sales that are further discussed in Notes 5 and 6.&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:Calibri;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;/div&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock>
  <us-gaap:IntangibleAssetsFiniteLivedPolicy contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;m)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Fair value of above/below market acquired time charter:&lt;/b&gt;&lt;/i&gt;&lt;b&gt; &lt;/b&gt;&amp;#160;The Company values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below market acquired time charters is determined by comparing the existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. &amp;#160;Such intangible asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:IntangibleAssetsFiniteLivedPolicy>
  <sblk:AdvancesForVesselsUnderConstructionPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;l)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Advances for vessels under construction:&lt;/b&gt;&lt;/i&gt; Advances made to shipyards during construction periods are classified as &amp;#147;Advances for vessels under construction and acquisition of vessels&amp;#148; until the date of delivery and acceptance of the vessel, at which date they are reclassified to &amp;#147;Vessels and other fixed assets, net&amp;#148;. Advances for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and other expenses directly related to the construction of the vessel or the preparation of the vessel for its initial voyage. Financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</sblk:AdvancesForVesselsUnderConstructionPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;k)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Vessels, net: &lt;/b&gt;&lt;/i&gt;Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for its initial voyage. Any subsequent expenditure, when it does not extend the useful life of the vessel,&lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt; &lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;increase the earning capacity or improve the efficiency or safety of the vessel, is expensed as incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;The cost of each of the Company's vessels is depreciated beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value (vessel's residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton). &amp;#160;Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Effective as of January&amp;#160;1, 2015, following management's reassessment of the residual value of the Company's vessels, the Company increased the estimated scrap rate per light weight tonnage 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 change in this accounting estimate, which pursuant to ASC 250 &amp;#147;Accounting Changes and Error Corrections&amp;#148; was applied prospectively and did not require retrospective application, decreased the depreciation expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share. &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:InventoryPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;j)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Inventories:&lt;/b&gt;&lt;/i&gt; Inventories consist of consumable lubricants and bunkers, which are stated at the lower of cost or market value. Cost is determined by the first in, first out method.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
  <us-gaap:ReceivablesPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;i)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Trade accounts receivable, net: &lt;/b&gt;&lt;/i&gt;The amount shown as Trade accounts receivable, net, at each balance sheet date, includes estimated amounts recovered from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. As of December 31, 2014 and 2015, provision for doubtful receivables was nil. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:ReceivablesPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;h)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Restricted cash&lt;/b&gt;&lt;/i&gt;: Restricted cash represents minimum cash deposits or cash collateral deposits required to be maintained with certain banks under the Company's borrowing arrangements, which are legally restricted as to withdrawal or use. In the event that the obligation to maintain such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets. Otherwise, they are classified as non-current assets. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;g)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Cash and cash equivalents:&lt;/b&gt;&lt;/i&gt; The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;f)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Foreign currency transactions:&lt;/b&gt;&lt;/i&gt; The functional currency of the Company is the U.S. Dollar since its vessels operate in the international shipping markets, and therefore primarily transact business in U.S. Dollars. The Company's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the period-end exchange rates. Resulting gains or losses are included in &amp;#147;Interest and other income&amp;#148; in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
  <us-gaap:ConcentrationRiskCreditRisk contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;e)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Concentration of credit risk: &lt;/b&gt;&lt;/i&gt;Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents and restricted cash, trade accounts receivable and derivative contracts (including freight derivatives, bunker derivatives and interest rate swaps). The Company's policy is to place cash and cash equivalents, and restricted cash with financial institutions evaluated as being creditworthy and are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance by counter parties to derivative instruments. To decrease this risk, the Company limits its exposure in over-the-counter transactions by diversifying among counter parties with high credit ratings, and selects freight derivatives, if any, that clear through the London Clearing House. The Company performs periodic evaluations of the relative credit standing of those financial institutions. In addition the Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers' financial condition. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:ConcentrationRiskCreditRisk>
  <us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;d)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Comprehensive income/ (loss): &lt;/b&gt;&lt;/i&gt;The statement of comprehensive income / (loss) presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. Reclassification adjustments are presented out of accumulated other comprehensive income / (loss) on the face of the statement in which the components of other comprehensive income / (loss) are presented or in the notes to the financial statements. The Company follows the provisions of ASC 220 &amp;#147;Comprehensive Income&amp;#148;, and presents items of net income / (loss), items of other comprehensive income / (loss) (&amp;#147;OCI&amp;#148;) and total comprehensive income / (loss) in two separate and consecutive statements. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
  <us-gaap:UseOfEstimates contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;c)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Use of estimates: &lt;/b&gt;&lt;/i&gt;The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:UseOfEstimates>
  <us-gaap:EquityMethodInvestmentsPolicy contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;b)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Equity method investments: &lt;/b&gt;&lt;/i&gt;Investments in the equity of entities over which the Company exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this method, the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the investment. When the Company's share of losses in an entity accounted for by the equity method equals or exceeds its interest in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made payments on behalf of the entity.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;/div&gt;</us-gaap:EquityMethodInvestmentsPolicy>
  <us-gaap:ConsolidationPolicyTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;a)&lt;/b&gt;&lt;/i&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;i&gt;&lt;b&gt;Principles of consolidation:&lt;/b&gt;&lt;/i&gt; The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (&amp;#147;U.S. GAAP&amp;#148;), which include the accounts of Star Bulk and its wholly owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated in the consolidation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Bulk as the holding company determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under ASC 810 &amp;#147;Consolidation&amp;#148;, a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions. Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;A variable interest entity (&amp;#147;VIE&amp;#148;) is an entity as defined under ASC 810-10, which in general either does not have equity investors with voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2013, 2014 and 2015, no such interest existed.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:ConsolidationPolicyTextBlock>
  <us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock 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:236px;"&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:18px;"&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:6px;"&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-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:18px;"&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:6px;"&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:70px;"&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:18px;"&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:6px;"&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:75px;"&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:35px;"&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:6px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"&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" colspan="14" style=" border:solid #000000 0.0px;width:673px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Fair Value Measurements Using&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:236px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Long-lived assets held and used&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Quoted Prices&lt;br/&gt;in Active&lt;br/&gt;Markets for&lt;br/&gt;Identical&lt;br/&gt;Assets&lt;br/&gt;(Level 1)&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant&lt;br/&gt;Other&lt;br/&gt;Observable&lt;br/&gt;Inputs&lt;br/&gt;(Level 2)&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant&lt;br/&gt;Unobservable&lt;br/&gt;Inputs&lt;br/&gt;(Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:68px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Impairment &lt;br/&gt;loss&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:236px;"&gt;&lt;div style="margin-left: 23.1px;text-indent:-10.7px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Vessels, net&lt;/i&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;#151;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;259,775&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;&amp;#160;&amp;#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:35px;"&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:6px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;&amp;#160;145,631&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"&gt;&lt;div style="margin-left: 23.1px;text-indent:-10.7px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Advances for vessels under construction&lt;/i&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#151;&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;36,152&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"&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:6px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;158,532&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"&gt;&lt;div style="margin-left: 23.1px;text-indent:-10.7px;"&gt;&lt;font style="font-family:Calibri;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:18px;"&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:6px;"&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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#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;/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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;295,927&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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;&amp;#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;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"&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:6px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;304,163&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:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock 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:199px;height:38px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="9" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:438px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&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="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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: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="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:200px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:199px;height:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&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;&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(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="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;ASSETS&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:90px;"&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: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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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="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:82px;"&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:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - asset position&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;LIABILITIES&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - liability position (current and non-current)&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7,732 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7,642 &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:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;807 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7,732 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;7,642 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:82px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;807 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:199px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:90px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:21px;"&gt;&lt;/td&gt;
    &lt;td style="width:78px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:82px;"&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="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" rowspan="2" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:22px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&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:18px;"&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:22px;"&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:66px;"&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:27px;"&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:22px;"&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:66px;"&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-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;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&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;&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Gain/(loss) on derivative instruments, 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:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&amp;#160;31, 2014)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;91 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(799&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;font style="font-family:Calibri;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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,443 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" 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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(4,918&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:324px;height:44px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1,793&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Ineffective portion of cash flow hedges&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-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&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:22px;"&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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) on derivative instruments, 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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;91 &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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(799)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(3,268)&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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Interest and finance costs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&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:18px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&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: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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"&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: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;&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:324px;height:38px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(2,416&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:324px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) recognized&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:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;91 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(1,854)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(5,684)&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:ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock>
  <sblk:VesselOperatingExpensesTableTextBlock 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:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel operating expenses&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Crew wages and related costs &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;14,355&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;29,449&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;65,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Insurances&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,968&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4,561&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8,026&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Maintenance, repairs, spares and stores&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;5,772&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;9,415&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;18,577&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,339&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,901&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8,187&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Tonnage taxes&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;797&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,360&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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,717&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Upgrading expenses&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;205&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,167&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6,205&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Miscellaneous&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;651&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;1,243&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,682&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total vessel operating expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;27,087&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;53,096&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;112,796&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:VesselOperatingExpensesTableTextBlock>
  <sblk:VoyageExpensesTableTextBlock contextRef="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:268px;height:15px;"&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Voyage &amp;#160;expenses&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Port charges &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,455&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;5,132&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;17,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4,338&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33,146&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;48,535&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Commissions -&amp;#160;third parties &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;867&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,902&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,915&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Commissions -&amp;#160;related parties (Note 3)&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;773&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,997&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,350&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Miscellaneous&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;116&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;164&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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;458&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total voyage expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7,549&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;42,341&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;72,877&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:VoyageExpensesTableTextBlock>
  <us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock contextRef="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:75px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="19" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:591px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending December&amp;#160;31,&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:75px;height:26px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2021 and thereafter&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:75px;height:26px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Future, minimum, non-cancellable charter revenue (1) &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:justify;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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;34,784 &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;33,695 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;1,089 &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:75px;height:40px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Future, minimum, non-cancellable lease payment under vessel operating leases (2)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(5,949) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(3,605) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(2,344) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:75px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Office rent&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:justify;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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(1,687) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(256) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(256) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(255) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(252) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(247) &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:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(421) &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:75px;height:34px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Bareboat capital leases - upfront hire &amp;amp; handling fees (3)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(7,477) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(6,469) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(672) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(336) &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:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;- &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;&lt;font style="font-family:Calibri;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:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:75px;height:26px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;Bareboat commitments charter hire (4) &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:justify;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:20px;"&gt;&lt;div style="text-align:justify;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:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(282,474) &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:20px;"&gt;&lt;div style="text-align:justify;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:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(7,126) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(16,951) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(21,388) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(21,291) &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:20px;"&gt;&lt;div style="text-align:justify;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:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(21,774) &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:20px;"&gt;&lt;div style="text-align:justify;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:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;(193,944) &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:75px;height:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(262,803) &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;16,239 &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:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(19,134) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(21,979) &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:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(21,543) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(22,021) &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:Calibri;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-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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:60px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;(194,365) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:75px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:45px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:60px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&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;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;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-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the minimum contractual charter revenues to be generated from the existing, as of December 31, 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;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the Company's commitments under the operating lease arrangement for Maiden Voyage disclosed in 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:Calibri;font-size:13.3px;color:#000000; "&gt;(3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire fee and handling fees for those vessels being, as of December 31, 2015, under construction. &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:Calibri;font-size:13.3px;color:#000000; "&gt;(4)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of December 31, 2015, under construction discussed in Note 6, as well as those commitments under bareboat lease agreements discussed in Note 5. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month LIBOR of 0.846%, as of December 31, 2015 (please refer to 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;</us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock>
  <us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock 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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Audit fees&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;432&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;386&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Legal fees&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,149&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;449&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other professional fees&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;350&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;26&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;Vessel Operating and voyage expenses&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;8,477&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;9,555&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Loan interest and financing fees&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;3,330&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;4,357&lt;/font&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:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Accrued Liabilities&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;13,738&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:24px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:120px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,773&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock>
  <us-gaap: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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,850&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(11,723&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(458,177&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic 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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;14,051,344 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,441,193 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;195,623,363 &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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic 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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;0.13 &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.20) &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:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(2.34) &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:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Dillutive 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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;65,045 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;14,116,389 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,441,193 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;195,623,363 &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:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Diluted 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:94px;"&gt;&lt;div style="text-indent:133.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.20)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:77px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(2.34)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <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:239px;height:13px;"&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:72px;"&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: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" style=" border:solid #000000 0.0px;width:21px;"&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:72px;"&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: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" style=" border:solid #000000 0.0px;width:28px;"&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:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="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;height:14px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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;&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:28px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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-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:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6,786 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;15,362 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;35,969 &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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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: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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(633) &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: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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(7,838) &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:solid #000000 0.0px;width:28px;"&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(12,079) &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:239px;height:39px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#151;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,055 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,416 &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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Amortization of deferred finance charges &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;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;522 &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: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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;681 &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:solid #000000 0.0px;width:28px;"&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,732 &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:239px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;139 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;315 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:28px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;623 &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:239px;height:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:21px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;6,814&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;9,575&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:28px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:78px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;29,661&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: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:466px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;112,873&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;87,826&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;184,886&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;326,573&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;53,620&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;145,960&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total (including 8.00% 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:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;911,738&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:466px;height:16px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Excluding 8.00% 2019 Notes &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:46px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:30px;"&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: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:Calibri;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:466px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:46px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;861,738&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap: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:397px;height:13px;"&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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&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-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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Commerzbank $120,000 and $26,000 facilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;74,680&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;54,968&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;51,028&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;12,800&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;29,600&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;22,047&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33,187&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;30,771&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;36,660&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;33,540&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;76,689&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;55,158&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;82,708&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;77,042&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;83,490&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;77,270&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;19,300&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;17,900&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;29,966&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;32,480&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;30,331&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;56,161&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;24,750&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;21,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;30,000&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;52,165&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;51,478&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;80,554&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;24,567&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;88,275&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-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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;98,051&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;DVB $31,000 Facility&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;27,727&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:29px;"&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:22px;"&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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;91,032&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;50,000 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:397px;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:80px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:22px;"&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:Calibri;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:84px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;911,738&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="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:269px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;254&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:101px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:196px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;254&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="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pre-delivery yard installments and 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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;408,870 &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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;65,009 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Bareboat capital leases -&amp;#160;upfront hire &amp;amp; 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;&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:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&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:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;54,428 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Capitalized interest and finance costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;6,301 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other capitalized costs (Note 3)&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;2,172 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:238px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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;&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:Calibri;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:92px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;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;&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:Calibri;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:85px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;127,910 &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="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;11,437&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;December 31, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:25px;"&gt;&lt;div style="text-indent:13.3px;"&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: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:Calibri;font-size:13.3px;color:#000000; "&gt;51,832&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;101,559&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:338px;height:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;22,039&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;79,520&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:338px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;4,490&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Calibri;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:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;75,030&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="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,641,603&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,025,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:18px;"&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,683&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-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,810&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1,643,286&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,027,498&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Accumulated depreciation&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(201,435&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri;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:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(269,946&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;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:268px;height:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels and other fixed assets, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-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:Calibri;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:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:69px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,757,552&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="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:108px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;7,438&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;6,809&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 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:Calibri;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:110px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,247&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <sblk:ListNewbuildingsTableTextBlock 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:26px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:232px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&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-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Expected Delivery Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;1 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Ennea LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN NE 198 (tbn &lt;i&gt;Star Poseidon&lt;/i&gt;) (Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;2 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Seeker LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1372 (tbn &lt;i&gt;Star Libra&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;3 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Clearwater Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1359 (tbn &lt;i&gt;Star Marisa&lt;/i&gt;) (5) (Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;4 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;5 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Domus Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1360 (tbn &lt;i&gt;Star Ariadne&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;6 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Breezer LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1371 (tbn &lt;i&gt;Star Virgo&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;7 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;) (7)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;8 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Festive Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) (5)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Newcastlemax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;9 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Confidence Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 5055 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Behemoth) &lt;/i&gt;(6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;10 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Runner Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 5056 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Megalodon) &lt;/i&gt;(6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;11 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Olympia Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1312 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Bruno Marks) &lt;/i&gt;(6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;12 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Victory Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1313 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Jenmark)&lt;/i&gt; (6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;13 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1338 (tbn &lt;i&gt;Star Aries&lt;/i&gt;) (6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;14 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1339 (tbn &lt;i&gt;Star Taurus&lt;/i&gt;) (6)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Capesize&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;15 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Blooming Navigation LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1080 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Kennadi) &lt;/i&gt;(Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;16 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Jasmine Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN 1081 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Mackenzie) &lt;/i&gt;(Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;17 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Oday Marine LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:93px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;18 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Searay Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:93px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:26px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;19 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:191px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:232px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;HN NE 197 (tbn &lt;i&gt;Star Lutas&lt;/i&gt;) (Note 20)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultramax&lt;/font&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:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:94px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 2016&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:4.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(5)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subject to a bareboat capital 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;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(6)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Newbuilding vessels agreed to be sold (Note 20) &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:Calibri;font-size:13.3px;color:#000000; "&gt;(7)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Newbuilding vessel agreed to be sold and chartered back under a capital 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>
  <us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock 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:68px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Charterer&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;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:68px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;A&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13%&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&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:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;4%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;B&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;34%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock>
  <us-gaap:ScheduleOfSaleLeasebackTransactionsTextBlock 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:136px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Vessel Name&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Type&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;DWT&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Year Built&lt;/u&gt;&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:136px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Astakos&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;Supramax&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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;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="middle" style=" border:solid #000000 0.0px;width:136px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total dwt:&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:136px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;58,722&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri Light;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:ScheduleOfSaleLeasebackTransactionsTextBlock>
  <sblk:ListVesselsUnderCommercialTechnicalManagementTableTextBlock 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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Owning Company&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:128px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&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:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;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:Calibri;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:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="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:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC (10)&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:128px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Kymopolia&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;January&amp;#160;30, 2014&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:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;181,433&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pacific Cape Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;177,643&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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Majestic Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Nautical Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Grain Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Mineral Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Renascentia&lt;/i&gt;(11)&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:Calibri;font-size:13.3px;color:#000000; "&gt;74,732&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Marto&lt;/i&gt; (12)&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:Calibri;font-size:13.3px;color:#000000; "&gt;74,470&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC (10)&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:Calibri;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Serenity Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;53,688&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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;June&amp;#160;11, 2011&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:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(10)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;These companies were subsidiaries of Oceanbulk and related parties to the Company (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:12.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(11) &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:5.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(12) &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 this vessel. The management agreement was terminated upon the vessel's delivery to its new managers, on August&amp;#160;20, 2014. &amp;#160;The Company received 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:5.0px;"&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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Bulk Shipmanagement Company (Cyprus) Limited&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Optima Shipping Limited&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Omas 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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Synergy 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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXI LLC (8)&lt;sup&gt; &lt;/sup&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:351px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Star Trident XXIV LLC (8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
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&lt;/table&gt;
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&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(8)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Owning companies of vessels which have been sold and currently have no operations&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:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
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&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
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  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;1 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;2 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;3 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;209,472&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 15, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;4 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Deep Blue (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;May 27, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;5 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Ocean Maritime LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;19, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;6 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Cape Horizon Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;22, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;7 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Positive Shipping Company&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Indomitable (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 8, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;8 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;OOCape1 Holdings LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Obelix (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;9 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sandra Shipco LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Pauline &amp;#160;(ex Sandra) (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;10 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Christine Shipco LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Martha (ex Christine) (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 31, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;11 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Pacific Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;12 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Borealis LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;9, 2011&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;13 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Polaris LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November&amp;#160;14, 2011&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;14 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident V LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;15 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sky Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;16 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Global Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;17 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Sea Cape Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;18 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Aurora LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;8, 2010&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;19 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Lowlands Beilun Shipco LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Despoina &amp;#160;(ex Lowlands Beilun) (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;20 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident VII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 3, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;21 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident VI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 2, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;22 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Nautical Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;23 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Majestic Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;24 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Sirius LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;March&amp;#160;7, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;25 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Vega LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February&amp;#160;13, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;26 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Alta I LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 5, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;27 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Alta II LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 5, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;28 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Kamila (2)&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;3, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;29 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Grain Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;30 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XIX LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November 5, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;31 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;32 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident IX LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 21, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;33 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 14, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;34 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident VIII LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 31, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;35 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XVI LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;19, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;36 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XIV LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November 19, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;37 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XVIII LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January 5, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;38 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident X LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 18, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;39 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;August&amp;#160;29, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;40 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XIII LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 8, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;41 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April 15, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;42 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XVII LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December 29, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;43 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Mineral Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;44 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;KMSRX Holdings LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Magnum Opus (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;45 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Dioriga Shipping Co.&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Tsu Ebisu (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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;46 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;8, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;47 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident IV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;4, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;48 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XX LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;September&amp;#160;16, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;49 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XXV LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;November 7, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;50 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Spring Shipping LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Idee Fixe (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;March 25, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;51 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Orion Maritime LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Roberta (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;March 31, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;52 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Success Maritime LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Laura (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April 7, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;53 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Ultra Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Kaley (1)&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;June 26, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;54 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;12, 2013&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;55 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;30, 2013&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;56 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Aurelia Shipping LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;61,320&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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 27, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;57 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Rainbow Maritime LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;61,292&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;February 27, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;58 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;61,258&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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 9, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;59 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Aquarius&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;60,916&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July 22, 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-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;60 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Pisces&lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;color:#000000; "&gt;60,916&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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;August 7, 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-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:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;61 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Glory Supra Shipping LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;11, 2014&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;62 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Omicron LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;April&amp;#160;17, 2008&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;63 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Gamma LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Gamma &lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January&amp;#160;4, 2008&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;64 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Zeta LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Zeta &lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January&amp;#160;2, 2008&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;65 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Delta LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Delta &lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;January&amp;#160;2, 2008&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;66 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Theta LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Theta &lt;/i&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:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;6, 2007&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;67 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Epsilon LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Epsilon &lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;3, 2007&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;68 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Cosmo LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&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:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;July&amp;#160;1, 2008&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;69 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Kappa LLC&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Kappa&lt;/i&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&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:Calibri;font-size:12.0px;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:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;December&amp;#160;14, 2007&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:19px;height:15px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;70 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:141px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;Star Trident XXX LLC&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:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:214px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;i&gt;Star Michele (2)&lt;/i&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:justify;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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: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" style=" border:solid #000000 0.0px;width:89px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;October 14, 2014&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" style=" border:solid #000000 0.0px;width:39px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;1998&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:19px;height:15px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:141px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:214px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total dwt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;7,362,579&lt;/b&gt;&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:Calibri;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:89px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:4.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "&gt;(3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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:Calibri;font-size:13.3px;color:#000000; "&gt;(4) &amp;#160;&amp;#160;Vessels agreed to be sold (Note 20) &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="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:296px;height:15px;"&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:29px;"&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:101px;"&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:48px;"&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:32px;"&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:130px;"&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:296px;height:15px;"&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:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&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:296px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma revenues &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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;82,090 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;177,654 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma operating loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(1,172&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;font style="font-family:Calibri;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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(10,296&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma net loss &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(10,604&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;font style="font-family:Calibri;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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(24,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:25px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pro forma loss per share, basic and diluted &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(0.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:48px;"&gt;&lt;font style="font-family:Calibri;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:32px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(0.27&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:BusinessAcquisitionProFormaInformationTextBlock>
  <sblk:ResultsOfOperationsForCompaniesAcquiredTableTextBlock 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:298px;height:25px;"&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:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Oceanbulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&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:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Pappas Companies&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:298px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Voyage revenues&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:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&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:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;39,585 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2,249 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Operating income/(loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(645&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&gt;&lt;font style="font-family:Calibri;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:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;111 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Net loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:100px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(4,822&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:47px;"&gt;&lt;font style="font-family:Calibri;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:31px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:130px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;(213&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:ResultsOfOperationsForCompaniesAcquiredTableTextBlock>
  <sblk:SchedulePurchasePriceAllocation1TableTextBlock 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:515px;height:15px;"&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:104px;"&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;July 11, 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:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Assets&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:104px;"&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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Cash and cash equivalents&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &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;&amp;#160;&amp;#160;89,887&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Restricted cash&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;6,381&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other current assets&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;13,906&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Advances for vessel acquisition and vessels under construction&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;316,786&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Vessels&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;426,000&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:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Fair value of above market acquired charters&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;1,967&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets acquired&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;854,927&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:515px;height:15px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:104px;"&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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:104px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;12,372&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Long-term debt, including current portion&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;208,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Derivative financial liabilities&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;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;5,728&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities assumed&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:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&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;226,337&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:515px;height:15px;"&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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;"&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;
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  <us-gaap:DebtInstrumentInterestRateIncreaseDecrease contextRef="d01-01-2013to31-07-2013__AbnAmroBankMember" decimals="4" unitRef="purenodecimals">0.005</us-gaap:DebtInstrumentInterestRateIncreaseDecrease>
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  <sblk:PercentOfQuarterlyInstallmentsDeferred contextRef="FYm2YTD__CommerzbankAgAggregateFacilityMember" decimals="2" unitRef="purenodecimals">0.6</sblk:PercentOfQuarterlyInstallmentsDeferred>
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  <sblk:DebtInstrumentPrepaymentAmount contextRef="i30-03-2015__CommerzbankAgAggregateFacilitySecondSupplementalMember" decimals="-3" unitRef="USD">3000000</sblk:DebtInstrumentPrepaymentAmount>
  <sblk:DebtInstrumentPrepaymentAmount contextRef="i01-07-2013__CommerzbankAgAggregateFacilityMember" decimals="-3" unitRef="USD">2000000</sblk:DebtInstrumentPrepaymentAmount>
  <us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="FYm1YTD__ExcelVesselBridgeFacilityMember" decimals="-3" unitRef="USD">-652000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
  <sblk:NumberOfVessels contextRef="FYp0Qp0e" decimals="0" unitRef="purenodecimals">70</sblk:NumberOfVessels>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DNB-SEB-CEXIMFacilityMember">The DNB-SEB-CEXIM $227,500 Facility is secured by a first priority cross-collateralized mortgage over the Gargantua (ex-HN166), Goliath (ex-HN167), Maharaj (ex-HN184), HN1338 (tbn Star Aries), HN1339 (tbn Star Taurus), HN1342 (tbn Star Gemini) and HN198 (tbn Star Poseidon) vessels and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to15-07-2015__DNB-SEB-CEXIMFacilityMember__Tranche3Member" decimals="-3" unitRef="USD">30300000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to15-07-2015__DNB-SEB-CEXIMFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">30300000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DVBDeepBlueFacilityMember">The DVB $31,000 Facility is secured by a first priority mortgage over the Deep Blue (ex-HN 5017) vessel and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__DVBDeepBlueFacilityMember">2016-03-31</us-gaap:LineOfCreditFacilityExpirationDate1>
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  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__DNBFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="FYm1YTD__FinancingHeronVesselsMember" decimals="-3" unitRef="USD">25311000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to21-01-2015__CitiFacilityMember__Tranche2Member" decimals="0" unitRef="USD">42627500</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2014to23-12-2014__CitiFacilityMember__Tranche1Member" decimals="0" unitRef="USD">51477500</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__ExcelVesselCITFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2014to10-12-2014__ExcelVesselCITFacilityMember" decimals="-3" unitRef="USD">30000000</us-gaap:ProceedsFromLinesOfCredit>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DVBFacilityMember__LastTwentyInstallmentsMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DVBFacilityMember__FirstFourInstallmentsMember" decimals="0" unitRef="purenodecimals">4</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__DVBFacilityMember">2020-10-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__BNPFacilityMember">2019-12-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__NIBCFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">9888000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__NIBCFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">9633000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__NIBCFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">255000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__NIBCFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">255000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__NIBCFacilityMember__Tranche1Member">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to07-08-2015__NIBCFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">15237000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to22-07-2015__NIBCFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">15237000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__NIBCFacilityMember__Tranche2Member">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__NIBCFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">16000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DiorigaFacilityMember">The HSBC $20,000 Dioriga Facility is secured by a first priority mortgage over the Tsu Ebisu vessel and general and specific assignments.</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__HshNordbankAg3Member__Tranche2Member">2014-09-30</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__HshNordbankAg3Member__Tranche2Member">2012-01-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__HshNordbankAg3Member__Tranche2Member" decimals="-3" unitRef="USD">1333000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__HshNordbankAg3Member__Tranche2Member">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__HshNordbankAg3Member__Tranche2Member" decimals="0" unitRef="purenodecimals">12</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
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  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche1InstallmentsFiveToSeventeenMember" decimals="0" unitRef="purenodecimals">13</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__Tranche1FirstFourInstallmentsMember__CommerzbankAg120000FacilitiyMember" decimals="0" unitRef="purenodecimals">4</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <sblk:NumberOfInstallments contextRef="FYp0Qp0e__SaleLeasebackArrangementMember__Hull1343Member" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfInstallments>
  <us-gaap:SaleLeasebackTransactionDescription contextRef="FYp0YTD__SaleLeasebackArrangementMember__Hull1343Member">10-year lease back arrangement</us-gaap:SaleLeasebackTransactionDescription>
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  <sblk:PurchasePriceObligation contextRef="FYp0YTD__SaleLeasebackArrangementMember__Hull1343Member" decimals="-3" unitRef="USD">12060000</sblk:PurchasePriceObligation>
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  <us-gaap:ImpairmentOfLongLivedAssetsHeldForUse contextRef="FYp0YTD" decimals="-3" unitRef="USD">102578000</us-gaap:ImpairmentOfLongLivedAssetsHeldForUse>
  <us-gaap:ImpairmentOfLongLivedAssetsToBeDisposedOf contextRef="FYp0YTD" decimals="-3" unitRef="USD">219400000</us-gaap:ImpairmentOfLongLivedAssetsToBeDisposedOf>
  <sblk:VesselsNet contextRef="FYp0Qp0e__PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember" decimals="-3" unitRef="USD">119591000</sblk:VesselsNet>
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  <sblk:VesselsSold contextRef="FYp0Qp0e__VesselsSalesAgreementsMember" decimals="0" unitRef="purenodecimals">16</sblk:VesselsSold>
  <us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized contextRef="FYp0YTD" decimals="-3" unitRef="USD">22000</us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized>
  <us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized contextRef="FYm1YTD" decimals="-3" unitRef="USD">0</us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized>
  <us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized contextRef="FYm2YTD" decimals="-3" unitRef="USD">0</us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized>
  <us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized contextRef="FYp0YTD__MaidenVoyageIMember" decimals="-3" unitRef="USD">22000</us-gaap:SaleLeasebackTransactionCurrentPeriodGainRecognized>
  <us-gaap:SaleLeasebackTransactionDeferredGainNet contextRef="FYp0Qp0e__MaidenVoyageIMember" decimals="-3" unitRef="USD">126000</us-gaap:SaleLeasebackTransactionDeferredGainNet>
  <us-gaap:SaleLeasebackTransactionDeferredGainGross contextRef="FYp0Qp0e__MaidenVoyageIMember" decimals="-3" unitRef="USD">148000</us-gaap:SaleLeasebackTransactionDeferredGainGross>
  <us-gaap:SaleLeasebackTransactionDate contextRef="FYp0YTD__MaidenVoyageIMember">September 15, 2015</us-gaap:SaleLeasebackTransactionDate>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to09-10-2015__StarAntaresMember__SinosureFacilityMember" decimals="-3" unitRef="USD">16738000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="d01-01-2015to09-10-2015__StarAntaresMember" decimals="-3" unitRef="USD">19770000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to07-08-2015__StarPiscesMember__NIBCFacilityMember" decimals="-3" unitRef="USD">15237000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="d01-01-2015to07-08-2015__StarPiscesMember" decimals="-3" unitRef="USD">20351000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to22-07-2015__StarAquariusMember__NIBCFacilityMember" decimals="-3" unitRef="USD">15237000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="d01-01-2015to22-07-2015__StarAquariusMember" decimals="-3" unitRef="USD">20359000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:StockIssuedDuringPeriodSharesAcquisitions contextRef="FYp0YTD__ExcelVesselsMember" decimals="0" unitRef="Shares">4257887</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="FYp0YTD__ExcelVesselsMember" decimals="-3" unitRef="USD">39475000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <sblk:VesselsDelivered contextRef="FYp0Qp0e__ExcelVesselsMember" decimals="0" unitRef="purenodecimals">6</sblk:VesselsDelivered>
  <sblk:VesselsDelivered contextRef="FYm1Qp0e__ExcelVesselsMember" decimals="0" unitRef="purenodecimals">28</sblk:VesselsDelivered>
  <sblk:VesselsAcquired contextRef="i19-08-2014__ExcelVesselsMember" decimals="0" unitRef="purenodecimals">34</sblk:VesselsAcquired>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="FYm1YTD__ExcelVesselsMember" decimals="-3" unitRef="USD">248751000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:StockIssuedDuringPeriodSharesAcquisitions contextRef="FYm1YTD__ExcelVesselsMember" decimals="0" unitRef="Shares">25659425</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
  <sblk:NumberOfDirectors contextRef="FYp0YTD" decimals="0" unitRef="purenodecimals">9</sblk:NumberOfDirectors>
  <us-gaap:RelatedPartyTransactionDate contextRef="FYp0YTD__ProductShippingTradingMember">2014-07-01</us-gaap:RelatedPartyTransactionDate>
  <sblk:DailyManagementFee contextRef="d01-01-2013to30-09-2013__ProductShippingTradingMember" decimals="0" unitRef="USD">130</sblk:DailyManagementFee>
  <us-gaap:RelatedPartyTransactionDate contextRef="FYp0YTD__ManagedVesselsOceanBulkShippingMember">2014-07-11</us-gaap:RelatedPartyTransactionDate>
  <us-gaap:RelatedPartyTransactionDate contextRef="FYp0YTD__OceanbulkMaritimeMember">2014-07-11</us-gaap:RelatedPartyTransactionDate>
  <sblk:NumberOfNewbuildingContracts contextRef="FYp0Qp0e__OceanbulkMaritimeMember__UltramaxVesselsMember" decimals="0" unitRef="purenodecimals">4</sblk:NumberOfNewbuildingContracts>
  <sblk:NumberOfNewbuildingContracts contextRef="FYp0Qp0e__OceanbulkMaritimeMember__NewcastlemaxVesselsMember" decimals="0" unitRef="purenodecimals">3</sblk:NumberOfNewbuildingContracts>
  <sblk:NumberOfNewbuildingContracts contextRef="FYp0Qp0e__OceanbulkMaritimeMember__CapesizeVesselsMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfNewbuildingContracts>
  <us-gaap:RelatedPartyTransactionDate contextRef="FYp0YTD__RenewalConsultancyAgreementsMember__ChiefExecutiveOfficerMember">2014-07-31</us-gaap:RelatedPartyTransactionDate>
  <us-gaap:ManagementFeesBaseRevenue contextRef="FYp0YTD__ManagedVesselsOceanBulkShippingMember" decimals="-3" unitRef="USD">0</us-gaap:ManagementFeesBaseRevenue>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices contextRef="d01-01to28-10-2015__OceanbulkMaritimeMember" decimals="0" unitRef="Shares">171171</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <sblk:DailyManagementFee contextRef="d22-03to31-05-2014__OceanbulkMaritimeMember" decimals="0" unitRef="USD">170</sblk:DailyManagementFee>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="FYm1YTD__HeronVenturesLtdMember" decimals="-3" unitRef="USD">25080000</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <us-gaap:DueToRelatedPartiesCurrent contextRef="FYp0Qp0e__OceanbulkMaritimeMember" decimals="-3" unitRef="USD">33000</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueToRelatedPartiesCurrent contextRef="FYm1Q4e__OceanbulkMaritimeMember" decimals="-3" unitRef="USD">0</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss contextRef="FYm2YTD" decimals="-3" unitRef="USD">-10604000</us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss>
  <us-gaap:BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax contextRef="FYm2YTD" decimals="-3" unitRef="USD">-1172000</us-gaap:BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax>
  <us-gaap:BusinessAcquisitionsProFormaRevenue contextRef="FYm2YTD" decimals="-3" unitRef="USD">82090000</us-gaap:BusinessAcquisitionsProFormaRevenue>
  <sblk:DeliveryDateVessel contextRef="FYp0YTD__HN1080Member">January 2016</sblk:DeliveryDateVessel>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__HN1080Member" decimals="0" unitRef="purenodecimals">64000</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__VesselsInOperationIIMember" decimals="0" unitRef="purenodecimals">7362579</sblk:VesselCapacity>
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  <sblk:VesselCapacity contextRef="FYp0Qp0e__StarAquariusMember" decimals="0" unitRef="purenodecimals">60916</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__StarAntaresMember" decimals="0" unitRef="purenodecimals">61258</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__MaharajMember" decimals="0" unitRef="purenodecimals">209472</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__GoliathMember" decimals="0" unitRef="purenodecimals">209537</sblk:VesselCapacity>
  <sblk:DeliveryDateVessel contextRef="FYp0YTD__GoliathMember">July 15, 2015</sblk:DeliveryDateVessel>
  <sblk:DeliveryDateVessel contextRef="FYp0YTD__MaharajMember">July 15, 2015</sblk:DeliveryDateVessel>
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  <sblk:VesselYearBuilt contextRef="FYp0YTD__StarAquariusMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__StarAntaresMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__MaharajMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__GoliathMember">2015</sblk:VesselYearBuilt>
  <sblk:DeliveryDateVessel contextRef="FYp0YTD__StarPiscesMember">August 7, 2015</sblk:DeliveryDateVessel>
  <sblk:DeliveryDateVessel contextRef="FYp0YTD__StarAquariusMember">July 22, 2015</sblk:DeliveryDateVessel>
  <sblk:DeliveryDateVessel contextRef="FYp0YTD__StarAntaresMember">October 9, 2015</sblk:DeliveryDateVessel>
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  <sblk:IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue contextRef="FYp0YTD" decimals="-3" unitRef="USD">19308000</sblk:IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue>
  <sblk:IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue contextRef="FYp0YTD__AdditionalPaidInCapitalMember" decimals="-3" unitRef="USD">19266000</sblk:IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue>
  <sblk:IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue contextRef="FYp0YTD__CommonStockMember" decimals="-3" unitRef="USD">42000</sblk:IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue>
  <us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="FYp0YTD__CommonStockMember" decimals="0" unitRef="Shares">4257887</us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices contextRef="FYp0YTD__OceanbulkMaritimeSoceAdjustmentsMember" decimals="-3" unitRef="USD">282000</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices contextRef="FYp0YTD__AdditionalPaidInCapitalMember__OceanbulkMaritimeSoceAdjustmentsMember" decimals="-3" unitRef="USD">280000</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
  <us-gaap:StockIssuedDuringPeriodValueIssuedForServices contextRef="FYp0YTD__CommonStockMember__OceanbulkMaritimeSoceAdjustmentsMember" decimals="-3" unitRef="USD">2000</us-gaap:StockIssuedDuringPeriodValueIssuedForServices>
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  <us-gaap:StockIssuedDuringPeriodSharesAcquisitions contextRef="FYm1YTD__CommonStockMember__ExcelTransactionsSoceAdjustmentsMember" decimals="0" unitRef="Shares">25659425</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
  <us-gaap:StockIssuedDuringPeriodSharesAcquisitions contextRef="FYm1YTD__CommonStockMember__HeronTransactionSoceAdjustmentsMember" decimals="0" unitRef="Shares">2115706</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
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  <us-gaap:GeneralInsuranceExpense contextRef="FYm2YTD" decimals="-3" unitRef="USD">2968000</us-gaap:GeneralInsuranceExpense>
  <us-gaap:SalariesAndWages contextRef="FYp0YTD" decimals="-3" unitRef="USD">65402000</us-gaap:SalariesAndWages>
  <us-gaap:SalariesAndWages contextRef="FYm1YTD" decimals="-3" unitRef="USD">29449000</us-gaap:SalariesAndWages>
  <us-gaap:SalariesAndWages contextRef="FYm2YTD" decimals="-3" unitRef="USD">14355000</us-gaap:SalariesAndWages>
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  <us-gaap:OtherCostOfOperatingRevenue contextRef="FYm1YTD" decimals="-3" unitRef="USD">164000</us-gaap:OtherCostOfOperatingRevenue>
  <us-gaap:OtherCostOfOperatingRevenue contextRef="FYm2YTD" decimals="-3" unitRef="USD">116000</us-gaap:OtherCostOfOperatingRevenue>
  <us-gaap:RelatedPartyCosts contextRef="FYp0YTD" decimals="-3" unitRef="USD">3350000</us-gaap:RelatedPartyCosts>
  <us-gaap:RelatedPartyCosts contextRef="FYm1YTD" decimals="-3" unitRef="USD">1997000</us-gaap:RelatedPartyCosts>
  <us-gaap:RelatedPartyCosts contextRef="FYm2YTD" decimals="-3" unitRef="USD">773000</us-gaap:RelatedPartyCosts>
  <us-gaap:SalesCommissionsAndFees contextRef="FYp0YTD" decimals="-3" unitRef="USD">2915000</us-gaap:SalesCommissionsAndFees>
  <us-gaap:SalesCommissionsAndFees contextRef="FYm1YTD" decimals="-3" unitRef="USD">1902000</us-gaap:SalesCommissionsAndFees>
  <us-gaap:SalesCommissionsAndFees contextRef="FYm2YTD" decimals="-3" unitRef="USD">867000</us-gaap:SalesCommissionsAndFees>
  <us-gaap:FuelCosts contextRef="FYp0YTD" decimals="-3" unitRef="USD">48535000</us-gaap:FuelCosts>
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  <us-gaap:FuelCosts contextRef="FYm2YTD" decimals="-3" unitRef="USD">4338000</us-gaap:FuelCosts>
  <sblk:PortCharges contextRef="FYp0YTD" decimals="-3" unitRef="USD">17619000</sblk:PortCharges>
  <sblk:PortCharges contextRef="FYm1YTD" decimals="-3" unitRef="USD">5132000</sblk:PortCharges>
  <sblk:PortCharges contextRef="FYm2YTD" decimals="-3" unitRef="USD">1455000</sblk:PortCharges>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">193944000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">21774000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">21291000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">21388000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">16951000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">7126000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDue contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">282474000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">0</us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">0</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">0</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">336000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">672000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">6469000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDue contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">7477000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
  <sblk:OffHireDays contextRef="d01-01-2013to31-03-2013__ArbitrationProceedingsMember__StarPolarisMember" decimals="0" unitRef="purenodecimals">142</sblk:OffHireDays>
  <us-gaap:LossContingencyNameOfDefendant contextRef="FYp0YTD__ArbitrationProceedingsMember__StarPolarisMember">Hanjin HHIC-Phil Inc.</us-gaap:LossContingencyNameOfDefendant>
  <us-gaap:LossContingencyRangeOfPossibleLossMinimum contextRef="FYp0Qp0e__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="-3" unitRef="USD">65000</us-gaap:LossContingencyRangeOfPossibleLossMinimum>
  <us-gaap:LossContingencyRangeOfPossibleLossMinimum contextRef="FYp0Qp0e__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="Euro">60000</us-gaap:LossContingencyRangeOfPossibleLossMinimum>
  <us-gaap:LossContingencyRangeOfPossibleLossMaximum contextRef="FYp0Qp0e__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="-3" unitRef="USD">283000</us-gaap:LossContingencyRangeOfPossibleLossMaximum>
  <us-gaap:LossContingencyRangeOfPossibleLossMaximum contextRef="FYp0Qp0e__SpanishPortAuthoritiesFinesMember__StarCosmoMember" decimals="0" unitRef="Euro">260000</us-gaap:LossContingencyRangeOfPossibleLossMaximum>
  <us-gaap:EscrowDeposit contextRef="i31-07-2011__StarCosmoMember__SpanishPortAuthoritiesFinesMember" decimals="-3" unitRef="USD">371000</us-gaap:EscrowDeposit>
  <us-gaap:EscrowDeposit contextRef="i31-07-2011__StarCosmoMember__SpanishPortAuthoritiesFinesMember" decimals="0" unitRef="Euro">340000</us-gaap:EscrowDeposit>
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  <us-gaap:ProceedsFromLegalSettlements contextRef="d01-01-2012to05-09-2012__SettlementAgreementWithIshharOverseasFZEMember__FirstInstallmentIIMember" decimals="-3" unitRef="USD">500000</us-gaap:ProceedsFromLegalSettlements>
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  <us-gaap:MalpracticeInsuranceMaximumCoveragePerIncident contextRef="FYp0YTD" decimals="-3" unitRef="USD">1000000000</us-gaap:MalpracticeInsuranceMaximumCoveragePerIncident>
  <sblk:ConversionOfReceivablePercentageOfAmountConverted contextRef="i14-10-2011__RehabilitationPlanMember" decimals="2" unitRef="purenodecimals">0.63</sblk:ConversionOfReceivablePercentageOfAmountConverted>
  <us-gaap:ProvisionForDoubtfulAccounts contextRef="FYm4YTD__RehabilitationPlanMember" decimals="-3" unitRef="USD">498000</us-gaap:ProvisionForDoubtfulAccounts>
  <us-gaap:ProceedsFromLegalSettlements contextRef="FYm4YTD__StarGammaMember__RehabilitationPlanMember" decimals="-3" unitRef="USD">86000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromLegalSettlements contextRef="d01-01-2011to31-10-2011__StarGammaMember__RehabilitationPlanMember" decimals="-3" unitRef="USD">172000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromLegalSettlements contextRef="d01-01-20112to31-03-2012__StarCosmoMember__RehabilitationPlanMember" decimals="-3" unitRef="USD">121000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromLegalSettlements contextRef="d01-01-2013to31-01-2013__StarGammaMember__RehabilitationPlanMember" decimals="-3" unitRef="USD">172000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromLegalSettlements contextRef="FYm2YTD__RehabilitationPlanMember" decimals="-3" unitRef="USD">177000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromLegalSettlements contextRef="FYm3YTD__RehabilitationPlanMember__StarCosmoMember" decimals="-3" unitRef="USD">1000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromLegalSettlements contextRef="FYm3YTD__RehabilitationPlanMember__StarGammaMember" decimals="-3" unitRef="USD">12000</us-gaap:ProceedsFromLegalSettlements>
  <sblk:LegalSettlementsSharesAcquired contextRef="d01-01-2013to30-11-2013__RehabilitationPlanMember__StarCosmoMember" decimals="0" unitRef="Shares">983</sblk:LegalSettlementsSharesAcquired>
  <sblk:LegalSettlementsSharesAcquired contextRef="d01-01-2013to30-11-2013__RehabilitationPlanMember__StarGammaMember" decimals="0" unitRef="Shares">24196</sblk:LegalSettlementsSharesAcquired>
  <sblk:LegalSettlementsSharesAcquired contextRef="d01-01-2013to04-06-2013__RehabilitationPlanMember__StarCosmoMember" decimals="0" unitRef="Shares">718</sblk:LegalSettlementsSharesAcquired>
  <sblk:AccountsReceivableCollectionPeriod contextRef="FYp0YTD__RehabilitationPlanMember">P10Y</sblk:AccountsReceivableCollectionPeriod>
  <us-gaap:ProceedsFromPaymentsForTradingSecurities contextRef="d01-01-2012to19-11-2012__RehabilitationPlanMember" decimals="-3" unitRef="USD">144000</us-gaap:ProceedsFromPaymentsForTradingSecurities>
  <sblk:LegalSettlementsSharesAcquired contextRef="d01-01-2012to19-11-2012__RehabilitationPlanMember" decimals="0" unitRef="Shares">11502</sblk:LegalSettlementsSharesAcquired>
  <us-gaap:StockholdersEquityNoteStockSplit contextRef="FYp0YTD__KoreaLineCorporationMember">11,502 shares (46,007 shares before split)</us-gaap:StockholdersEquityNoteStockSplit>
  <us-gaap:CommonStockParOrStatedValuePerShare contextRef="FYp0Qp0e__RehabilitationPlanMember" decimals="0" unitRef="KRWPS">5000</us-gaap:CommonStockParOrStatedValuePerShare>
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  <us-gaap:GainContingencyIncomeStatementCaption contextRef="FYp0YTD__SettlementAgreementWithIshharOverseasFZEMember">Other operational gain</us-gaap:GainContingencyIncomeStatementCaption>
  <us-gaap:ProceedsFromSaleOfOtherReceivables contextRef="d01-01-2014to3-10-2014__StarBorealisMember" decimals="-3" unitRef="USD">8016000</us-gaap:ProceedsFromSaleOfOtherReceivables>
  <sblk:AccruedLoanInterestAndFinancingFeesCurrent contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">4357000</sblk:AccruedLoanInterestAndFinancingFeesCurrent>
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  <sblk:AccruedProfessionalFeesOtherCurrent contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">26000</sblk:AccruedProfessionalFeesOtherCurrent>
  <sblk:AccruedProfessionalFeesOtherCurrent contextRef="FYm1Qp0e" decimals="-3" unitRef="USD">350000</sblk:AccruedProfessionalFeesOtherCurrent>
  <sblk:AccruedLegalFeesCurrent contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">449000</sblk:AccruedLegalFeesCurrent>
  <sblk:AccruedLegalFeesCurrent contextRef="FYm1Qp0e" decimals="-3" unitRef="USD">1149000</sblk:AccruedLegalFeesCurrent>
  <sblk:AccruedAuditFeesCurrent contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">386000</sblk:AccruedAuditFeesCurrent>
  <sblk:AccruedAuditFeesCurrent contextRef="FYm1Qp0e" decimals="-3" unitRef="USD">432000</sblk:AccruedAuditFeesCurrent>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="FYm1YTD" decimals="2" unitRef="EPS">6.2</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod contextRef="FYm1YTD" decimals="0" unitRef="Shares">18667</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FYp0YTD" decimals="2" unitRef="EPS">10.86</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FYm2YTD" decimals="2" unitRef="EPS">19.71</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FYm2YTD" decimals="2" unitRef="EPS">6.43</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FYm3Q4e" decimals="2" unitRef="EPS">36.75</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FYm1Qp0e" decimals="0" unitRef="Shares">394167</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FYm3Q4e" decimals="0" unitRef="Shares">18667</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="FYm2YTD" decimals="0" unitRef="Shares">21333</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="FYm2YTD" decimals="0" unitRef="Shares">279333</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment contextRef="FYm2YTD" decimals="0" unitRef="Shares">65045</us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment>
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  <us-gaap:LineOfCreditFacilityDividendRestrictions 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 (i) $200,000 or (ii) $2,000 per fleet vessel.</us-gaap:LineOfCreditFacilityDividendRestrictions>
  <us-gaap:LineOfCreditFacilityDividendRestrictions contextRef="FYp0YTD">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 occurred and is continuing or would result from such dividend or distribution.</us-gaap:LineOfCreditFacilityDividendRestrictions>
  <us-gaap:DebtInstrumentRestrictiveCovenants contextRef="FYp0YTD__Issuance50MillionNotesMember">Upon certain change of control events, the Company is required to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. If the Company receives net cash proceeds from certain asset sales and does not apply them within a specified deadline, the Company will be required to apply those proceeds to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption.</us-gaap:DebtInstrumentRestrictiveCovenants>
  <us-gaap:DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault contextRef="FYp0YTD__Issuance50MillionNotesMember">The indenture governing the 2019 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee or the holders of not less than 25% in aggregate principal amount of the 2019 Notes then outstanding may declare the entire principal amount of all the 2019 Notes plus accrued interest, if any, to be immediately due and payable.</us-gaap:DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault>
  <us-gaap:DebtInstrumentCollateralAmount contextRef="FYp0Qp0e__FirstPriorityMortgageMember" decimals="-3" unitRef="USD">1559339000</us-gaap:DebtInstrumentCollateralAmount>
  <us-gaap:LongtermDebtWeightedAverageInterestRate contextRef="FYm1Qp0e" decimals="4" unitRef="purenodecimals">0.0353</us-gaap:LongtermDebtWeightedAverageInterestRate>
  <us-gaap:DebtInstrumentRedemptionPricePercentage contextRef="FYp0YTD__DebtInstrumentRedemptionPeriodTwoMember__Issuance50MillionNotesMember" decimals="0" unitRef="purenodecimals">1</us-gaap:DebtInstrumentRedemptionPricePercentage>
  <us-gaap:DebtInstrumentRedemptionPricePercentage contextRef="FYp0YTD__DebtInstrumentRedemptionPeriodOneMember__Issuance50MillionNotesMember" decimals="0" unitRef="purenodecimals">1</us-gaap:DebtInstrumentRedemptionPricePercentage>
  <us-gaap:DebtInstrumentRedemptionDescription contextRef="FYp0YTD__DebtInstrumentRedemptionPeriodOneMember__Issuance50MillionNotesMember">Prior to November 15, 2016, the Company may redeem the 2019 Notes, in whole or in part, at a price equal to 100% of their principal amount plus a make-whole premium and accrued and unpaid interest to the date of redemption.</us-gaap:DebtInstrumentRedemptionDescription>
  <us-gaap:DebtInstrumentRedemptionDescription contextRef="FYp0YTD__DebtInstrumentRedemptionPeriodThreeMember__Issuance50MillionNotesMember">In addition, the Company may redeem the 2019 Notes in whole, but not in part, at any time, at a redemption price equal to 100% of their principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, if certain events occur involving changes in taxation.</us-gaap:DebtInstrumentRedemptionDescription>
  <us-gaap:DebtInstrumentFrequencyOfPeriodicPayment contextRef="FYp0YTD__Issuance50MillionNotesMember">quarterly in arrears on each February 15, May 15, August 15 and November 15</us-gaap:DebtInstrumentFrequencyOfPeriodicPayment>
  <us-gaap:DebtInstrumentRedemptionDescription contextRef="FYp0YTD__DebtInstrumentRedemptionPeriodTwoMember__Issuance50MillionNotesMember">The Company may redeem the 2019 Notes, in whole or in part, at any time on or after November 15, 2016 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.</us-gaap:DebtInstrumentRedemptionDescription>
  <us-gaap:DebtInstrumentFaceAmount contextRef="FYp0Qp0e__Issuance50MillionNotesMember" decimals="-3" unitRef="USD">50000000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentIssuanceDate1 contextRef="FYp0YTD__Issuance50MillionNotesMember">2014-11-06</us-gaap:DebtInstrumentIssuanceDate1>
  <us-gaap:DebtInstrumentRedemptionPricePercentage contextRef="FYp0YTD__DebtInstrumentRedemptionPeriodThreeMember__Issuance50MillionNotesMember" decimals="0" unitRef="purenodecimals">1</us-gaap:DebtInstrumentRedemptionPricePercentage>
  <us-gaap:DebtInstrumentMaturityDate contextRef="FYp0YTD__Issuance50MillionNotesMember">2019-11-30</us-gaap:DebtInstrumentMaturityDate>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="FYp0Qp0e__Issuance50MillionNotesMember" decimals="2" unitRef="purenodecimals">0.08</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__FinancingHeronVesselsMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__CitiFacilityMember" decimals="0" unitRef="purenodecimals">7</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__FinancingHeronVesselsMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__CitiFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__FinancingHeronVesselsMember">The facility is secured by a first priority mortgage over the Star Gwyneth Star Angelina and Star Aline vessels and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__CitiFacilityMember">The Citi Facility is secured by a first priority mortgage over the Star Pauline (ex-Sandra), Star Despoina (ex-Lowlands Beilun), Star Angie, Star Sophia, Star Georgia, Star Kamila and Star Nina vessels and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__FinancingHeronVesselsMember">2014-12-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__CitiFacilityMember" decimals="-3" unitRef="USD">26349000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__CitiFacilityMember">2015-03-30</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__FinancingHeronVesselsMember" decimals="0" unitRef="USD">744400</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__CitiFacilityMember" decimals="-3" unitRef="USD">3388000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__FinancingHeronVesselsMember" decimals="0" unitRef="purenodecimals">19</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__CitiFacilityMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__FinancingHeronVesselsMember">2019-06-30</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__FinancingHeronVesselsMember" decimals="-3" unitRef="USD">25311000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CitiFacilityMember" decimals="-3" unitRef="USD">100000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__FinancingHeronVesselsMember">2014-11-30</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__CitiFacilityMember">2014-12-22</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to28-02-2015__DNBFacilityMember" decimals="-3" unitRef="USD">9507000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to31-01-2015__DNBFacilityMember" decimals="-3" unitRef="USD">9515000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2014to30-12-2014__DNBFacilityMember" decimals="-3" unitRef="USD">88275000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__DNBFacilityMember" decimals="-3" unitRef="USD">120000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__DVBFacilityMember" decimals="-3" unitRef="USD">12150000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__DVBFacilityMember__LastTwentyInstallmentsMember" decimals="-3" unitRef="USD">450000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__DNBFacilityMember">2015-03-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DNBFacilityMember">The DNB $120,000 Facility is secured by a first priority mortgage over the Star Nasia, Star Monisha, Star Eleonora, Star Danai, Star Renee, Star Markella, Star Laura, Star Moira, Star Jennifer, Star Mariella, Star Helena and Star Maria vessels and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__DNBFacilityMember" decimals="-3" unitRef="USD">29160000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__DNBFacilityMember" decimals="-3" unitRef="USD">4374000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DNBFacilityMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__DNBFacilityMember">2019-12-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__DNBFacilityMember">2014-12-29</us-gaap:LineOfCreditFacilityInitiationDate1>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__SinosureFacilityMember" decimals="0" unitRef="purenodecimals">8</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__SinosureFacilityMember" decimals="-3" unitRef="USD">156453000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__SinosureFacilityMember" decimals="0" unitRef="purenodecimals">8</sblk:NumberOfLoanTranches>
  <us-gaap:DebtInstrumentTerm contextRef="FYp0YTD__SinosureFacilityMember">P12Y</us-gaap:DebtInstrumentTerm>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__SinosureFacilityMember" decimals="0" unitRef="purenodecimals">48</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__SinosureFacilityMember">The Sinosure Facility is secured by first priority cross collateralized mortgage over the Honey Badger (ex-HN NE 164), Wolverine (ex-HN NE 165), Star Antares (ex-HN NE 196), Star Lutas (ex-HN NE 197), HN 1080 (tbn Kennadi), HN 1081 (tbn Mackenzie), HN 1082 (tbn Night Owl), HN 1083 (tbn Early Bird) vessels and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DVBFacilityMember">The DVB $24,750 Facility is secured by a first priority pledge of the membership interests of the Christine Shipco LLC and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__DVBFacilityMember" decimals="0" unitRef="purenodecimals">1</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__DVBFacilityMember__FirstFourInstallmentsMember" decimals="-3" unitRef="USD">900000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__SinosureFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__DVBFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DVBFacilityMember" decimals="0" unitRef="purenodecimals">24</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2014to31-10-2014__DVBFacilityMember" decimals="-3" unitRef="USD">24750000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__SinosureFacilityMember">2015-02-11</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__DVBFacilityMember">2014-10-30</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions contextRef="d01-01-2014to11-07-2014__DVBFacilityMember__ChristineShipcoLLCMember" decimals="0" unitRef="purenodecimals">1</us-gaap:SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__DiorigaFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__NIBCFacilityMember">The NIBC $32,000 Facility is secured by a first priority cross collateralized mortgage over the Star Acquarius and Star Pisces vessels and general and specific assignments</us-gaap:LineOfCreditFacilityCollateral>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DiorigaFacilityMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__DiorigaFacilityMember" decimals="-3" unitRef="USD">350000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__DiorigaFacilityMember" decimals="-3" unitRef="USD">13000000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__NIBCFacilityMember">2020-11-30</us-gaap:LineOfCreditFacilityExpirationDate1>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__NIBCFacilityMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__NIBCFacilityMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__DiorigaFacilityMember">2019-03-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__NIBCFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">16000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__NIBCFacilityMember" decimals="-3" unitRef="USD">32000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__DiorigaFacilityMember" decimals="-3" unitRef="USD">20000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__DiorigaFacilityMember">2014-04-14</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__NIBCFacilityMember">2014-11-07</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__ExcelVesselCITFacilityMember" decimals="-3" unitRef="USD">500000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__ExcelVesselCITFacilityMember">2015-03-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="FYm1YTD__ExcelVesselBridgeFacilityMember" decimals="-3" unitRef="USD">195914000</us-gaap:ProceedsFromLinesOfCredit>
  <sblk:DebtInstrumentPrepaymentAmount contextRef="i30-09-2015__ExcelVesselBridgeFacilityMember" decimals="-3" unitRef="USD">6000000</sblk:DebtInstrumentPrepaymentAmount>
  <sblk:DebtInstrumentPrepaymentAmount contextRef="i30-06-2015__ExcelVesselBridgeFacilityMember" decimals="-3" unitRef="USD">6000000</sblk:DebtInstrumentPrepaymentAmount>
  <sblk:DebtInstrumentPrepaymentAmount contextRef="i31-03-2015__ExcelVesselBridgeFacilityMember" decimals="-3" unitRef="USD">6000000</sblk:DebtInstrumentPrepaymentAmount>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__ExcelVesselCITFacilityMember" decimals="0" unitRef="purenodecimals">11</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__ExcelVesselCITFacilityMember">The Excel Vessel CiT Facility is secured on a first-priority basis by 11 Excel Vessels, which consist of nine Panamax and two Handymax vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__ExcelVesselCITFacilityMember" decimals="-3" unitRef="USD">30000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__CEXIMFacilityMember">semi-annual</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:DebtInstrumentTerm contextRef="FYp0YTD__CEXIMFacilityMember">P10Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms contextRef="FYp0YTD__CEXIMFacilityMember">The first installment being due on the first January 21 or July 21 six months after the delivery of each vessel</us-gaap:LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__CEXIMFacilityMember">The CEXIM $57,360 Facility will be secured by first priority cross-collateralized ship mortgages on the Bruno Marks and Jenmark vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__ExcelVesselBridgeFacilityMember">2015-01-29</us-gaap:LineOfCreditFacilityExpirationDate1>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__CEXIMFacilityMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__BNPFacilityMember">The BNP $32,480 Facility is secured by a first priority mortgage over the Indomitable vessel</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="FYm1YTD__BNPFacilityMember" decimals="-3" unitRef="USD">32480000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__BNPFacilityMember" decimals="-3" unitRef="USD">21737000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__CEXIMFacilityMember" decimals="-3" unitRef="USD">5736000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__CEXIMFacilityMember" decimals="-3" unitRef="USD">1147000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__BNPFacilityMember" decimals="0" unitRef="USD">537200</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__BNPFacilityMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__CEXIMFacilityMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__BNPFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CEXIMFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">28680000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CEXIMFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">28680000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__CEXIMFacilityMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__BNPFacilityMember" decimals="-3" unitRef="USD">32500000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CEXIMFacilityMember" decimals="-3" unitRef="USD">57360000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__ExcelVesselCITFacilityMember">2014-12-09</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__ExcelVesselBridgeFacilityMember">2014-08-19</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__BNPFacilityMember">2014-12-03</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__CEXIMFacilityMember">2014-06-26</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__HSBCFacilityMember">The HSBC $86,600 Facility is secured by a first priority mortgage over the  Kymopolia, Mercurial Virgo, Pendulum, Amami and Madredeus vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__HSBCFacilityMember" decimals="-3" unitRef="USD">55500000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__HSBCFacilityMember" decimals="-3" unitRef="USD">1555000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__HSBCFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__HSBCFacilityMember" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__HSBCFacilityMember">2019-05-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2014to30-06-2014__HSBCFacilityMember" decimals="-3" unitRef="USD">86600000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__HSBCFacilityMember" decimals="-3" unitRef="USD">86600000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__HSBCFacilityMember">2014-06-16</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DeutscheBankFacilityMember">The Deutsche Bank $85,000 Facility is secured by first priority cross-collateralized ship mortgages on the Magnum Opus, Peloreus and Leviathan vessls</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms contextRef="FYp0YTD__DeutscheBankFacilityMember">Each loan is subject to 19 quarterly amortization payments equal to 1/60th of the loan amount, with the 20th payment equal to the remaining amount outstanding on the loan</us-gaap:LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DeutscheBankFacilityMember" decimals="0" unitRef="purenodecimals">19</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:DebtInstrumentTerm contextRef="FYp0YTD__DeutscheBankFacilityMember">P5Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__DeutscheBankFacilityMember" decimals="-3" unitRef="USD">85000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__DeutscheBankFacilityMember">2014-05-20</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__ABNFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">14108000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__ABNFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">20350000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__ABNFacilityMember__MaximumMember" decimals="-3" unitRef="USD">12813000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__ABNFacilityMember__MinimumMember" decimals="-3" unitRef="USD">2500000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__ABNFacilityMember__MaximumMember" decimals="-3" unitRef="USD">550000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__ABNFacilityMember__MinimumMember" decimals="-3" unitRef="USD">248000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2013to20-12-2013__ABNFacilityMember__Tranche3Member" decimals="-3" unitRef="USD">53000000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__ABNFacilityMember__Tranche3Member" decimals="-3" unitRef="USD">53000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2013to06-08-2013__ABNFacilityMember__Tranche2Member" decimals="-3" unitRef="USD">14108000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2013to06-08-2013__ABNFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">20350000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__ABNFacilityMember">The ABN AMRO $87,458 Facility is secured by a first-priority ship mortgage over the Obelix, Maiden Voyage, Big Bang, Strange Attractor, Big Fish and Pantagruel vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__ABNFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__ABNFacilityMember__Tranche3Member">2018-12-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__ABNFacilityMember__Tranche2Member">2018-08-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__ABNFacilityMember__Tranche1Member">2017-09-30</us-gaap:LineOfCreditFacilityExpirationDate1>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__ABNFacilityMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__ABNFacilityMember" decimals="-3" unitRef="USD">34458000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__ABNFacilityMember">2013-08-01</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__DeutscheBankMember__Tranche1Member">2014-06-30</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__DeutscheBankMember__Tranche1Member">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__DeutscheBankMember__Tranche2Member">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__DeutscheBankMember__Tranche2Member">2014-06-30</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__DeutscheBankMember__Tranche2Member" decimals="-3" unitRef="USD">8580000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__DeutscheBankMember__Tranche2Member" decimals="-3" unitRef="USD">390000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DeutscheBankMember__Tranche2Member" decimals="0" unitRef="purenodecimals">28</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__DeutscheBankMember">The Deutsche Bank $39,000 Facility is secured by a first priority mortgage over the Star Sirius and Star Vega vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__DeutscheBankMember" decimals="-3" unitRef="USD">39000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__DeutscheBankMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__DeutscheBankMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__DeutscheBankMember__Tranche1Member" decimals="-3" unitRef="USD">8580000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__DeutscheBankMember__Tranche1Member" decimals="-3" unitRef="USD">390000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__DeutscheBankMember__Tranche1Member" decimals="0" unitRef="purenodecimals">28</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__DeutscheBankMember">2021-03-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__DeutscheBankMember">2014-03-14</us-gaap:LineOfCreditFacilityInitiationDate1>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__HshNordbankAgMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__HshNordbankAgMember__Tranche2Member" decimals="0" unitRef="USD">9332400</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__HshNordbankAgMember__Tranche1Member" decimals="-3" unitRef="USD">8750000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__HshNordbankAgMember__Tranche2Member" decimals="0" unitRef="USD">291700</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__HshNordbankAgMember__Tranche1Member" decimals="0" unitRef="USD">312500</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__HshNordbankAgMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__HshNordbankAgMember" decimals="0" unitRef="purenodecimals">28</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__HshNordbankAgMember__Tranche2Member">2014-05-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__HshNordbankAgMember__Tranche1Member">2014-05-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__HshNordbankAgMember">2021-02-28</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__HshNordbankAgMember">The HSH Nordbank $35,000 Facility is secured by a first priority mortgage over the Star Challenger and Star Fighter vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__HshNordbankAgMember" decimals="-3" unitRef="USD">35000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__HshNordbankAgMember">2014-02-06</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__HshNordbankAg3Member__Tranche1Member">2016-09-30</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__HshNordbankAg3Member__Tranche1Member">2012-01-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__HshNordbankAg3Member__Tranche1Member" decimals="-3" unitRef="USD">23500000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__HshNordbankAg3Member__Tranche1Member">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__HshNordbankAg3Member__Tranche1Member" decimals="-3" unitRef="USD">1250000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__HshNordbankAg3Member__Tranche1Member" decimals="0" unitRef="purenodecimals">20</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__HshNordbankAg3Member" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__HshNordbankAg3Member" decimals="-3" unitRef="USD">64500000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__HshNordbankAg3Member">2011-10-03</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CommerzbankAg26000FacilityMember" decimals="-3" unitRef="USD">26000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__CommerzbankAg26000FacilityMember">The Commerzbank $26,000 Facility is secured by a first priority mortgage over the Star Aurora vessel</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__CommerzbankAg26000FacilityMember">2010-09-03</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__AbnAmroBankMember">The ABN AMRO $31,000 Facility is secured by a first priority mortgage over the Star Big and Star Mega vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__AbnAmroBankMember" decimals="-3" unitRef="USD">31000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__AbnAmroBankMember">2011-07-21</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember__Tranche2Member">2018-11-30</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__CreditAgricoleCorporateAndInvestmentBankMember__Tranche2Member" decimals="-3" unitRef="USD">20134000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__CreditAgricoleCorporateAndInvestmentBankMember__Tranche1Member" decimals="0" unitRef="USD">19558200</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember__Tranche1Member">2018-08-31</us-gaap:LineOfCreditFacilityExpirationDate1>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember__Tranche2Member" decimals="0" unitRef="USD">499700</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember__Tranche1Member" decimals="0" unitRef="USD">485400</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__CreditAgricoleCorporateAndInvestmentBankMember" decimals="0" unitRef="purenodecimals">28</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="FYm4YTD__CreditAgricoleCorporateAndInvestmentBankMember" decimals="-3" unitRef="USD">67275000</us-gaap:ProceedsFromLinesOfCredit>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__CreditAgricoleCorporateAndInvestmentBankMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <sblk:NumberOfVesselFinancedByDebtInstrument contextRef="FYp0Qp0e__CreditAgricoleCorporateAndInvestmentBankMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfVesselFinancedByDebtInstrument>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember">The Credit Agricole $70,000 Facility is secured by a first priority mortgage over the Star Borealis and Star Polaris vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CreditAgricoleCorporateAndInvestmentBankMember" decimals="-3" unitRef="USD">70000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__CreditAgricoleCorporateAndInvestmentBankMember">2011-01-20</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__Tranche2LastTwentyFourInstallmentsMember__CommerzbankAg120000FacilitiyMember" decimals="-3" unitRef="USD">1750000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__Tranche2FirstFourInstallmentMember__CommerzbankAg120000FacilitiyMember" decimals="-3" unitRef="USD">4000000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche1Member" decimals="-3" unitRef="USD">13700000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__Tranche1LastElevenInstallmentsMember__CommerzbankAg120000FacilitiyMember" decimals="-3" unitRef="USD">1300000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__CommerzbankAg120000FacilitiyMember__Tranche1InstallmentsFiveToSeventeenMember" decimals="-3" unitRef="USD">1000000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="FYp0YTD__Tranche1FirstFourInstallmentsMember__CommerzbankAg120000FacilitiyMember" decimals="-3" unitRef="USD">2250000</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche2Member" decimals="-3" unitRef="USD">12000000</us-gaap:DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche2Member" decimals="-3" unitRef="USD">70000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__Tranche1Member__CommerzbankAg120000FacilitiyMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__Tranche2Member__CommerzbankAg120000FacilitiyMember">2010-01-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche2Member" decimals="0" unitRef="purenodecimals">28</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1 contextRef="FYp0YTD__Tranche1Member__CommerzbankAg120000FacilitiyMember">2010-01-31</us-gaap:LineOfCreditFacilityDateOfFirstRequiredPayment1>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="FYp0YTD__Tranche2Member__CommerzbankAg120000FacilitiyMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
  <sblk:LineOfCreditFacilityNumberOfRepaymentInstallment contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche1Member" decimals="0" unitRef="purenodecimals">28</sblk:LineOfCreditFacilityNumberOfRepaymentInstallment>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember__Tranche1Member" decimals="-3" unitRef="USD">50000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <sblk:NumberOfLoanTranches contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember" decimals="0" unitRef="purenodecimals">2</sblk:NumberOfLoanTranches>
  <us-gaap:LineOfCreditFacilityCollateral contextRef="FYp0YTD__CommerzbankAg120000FacilitiyMember">The Commerzbank $120,000 Facility is secured by a first priority mortgage over the Star Gamma, Star Delta, Star Epsilon, Star Zeta and Star Theta vessels</us-gaap:LineOfCreditFacilityCollateral>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__CommerzbankAg120000FacilitiyMember" decimals="-3" unitRef="USD">120000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityInitiationDate1 contextRef="FYp0YTD__CommerzbankAg120000FacilitiyMember">2007-12-27</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">145960000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">53620000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">326573000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">184886000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">87826000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">112873000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
  <us-gaap:OtherFinancialServicesCosts contextRef="FYm2YTD" decimals="-3" unitRef="USD">139000</us-gaap:OtherFinancialServicesCosts>
  <us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet contextRef="FYm2YTD" decimals="-3" unitRef="USD">0</us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet>
  <us-gaap:InterestCostsCapitalized contextRef="FYm2YTD" decimals="-3" unitRef="USD">-633000</us-gaap:InterestCostsCapitalized>
  <us-gaap:InterestExpenseLongTermDebt contextRef="FYm2YTD" decimals="-3" unitRef="USD">6786000</us-gaap:InterestExpenseLongTermDebt>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">254000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths>
  <us-gaap:DisposalDate1 contextRef="FYp0YTD__StarKimMember">2015-01-21</us-gaap:DisposalDate1>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="FYm1YTD__LeviathanMember__CashMember" decimals="-3" unitRef="USD">2125000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="FYm1YTD__LeviathanMember" decimals="-3" unitRef="USD">34625000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
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  <us-gaap:ProfessionalAndContractServicesExpense contextRef="FYm1YTD" decimals="-3" unitRef="USD">158000</us-gaap:ProfessionalAndContractServicesExpense>
  <us-gaap:ProfessionalAndContractServicesExpense contextRef="FYp0YTD__ShipProcurementServicesS.A.Member" decimals="-3" unitRef="USD">7985000</us-gaap:ProfessionalAndContractServicesExpense>
  <us-gaap:InterestExpenseLesseeAssetsUnderCapitalLease contextRef="FYp0YTD__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">3088000</us-gaap:InterestExpenseLesseeAssetsUnderCapitalLease>
  <us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">3056000</us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation>
  <sblk:NumberOfNewbuildingContracts contextRef="FYp0Qp0e__MergerPappasTransactionMember" decimals="0" unitRef="purenodecimals">11</sblk:NumberOfNewbuildingContracts>
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  <us-gaap:CapitalLeaseObligationsCurrent contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">4490000</us-gaap:CapitalLeaseObligationsCurrent>
  <us-gaap:ContractualObligation contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">262803000</us-gaap:ContractualObligation>
  <us-gaap:ContractualObligationDueAfterFifthYear contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">194365000</us-gaap:ContractualObligationDueAfterFifthYear>
  <us-gaap:ContractualObligationDueInFifthYear contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">22021000</us-gaap:ContractualObligationDueInFifthYear>
  <us-gaap:ContractualObligationDueInFourthYear contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">21543000</us-gaap:ContractualObligationDueInFourthYear>
  <us-gaap:ContractualObligationDueInThirdYear contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">21979000</us-gaap:ContractualObligationDueInThirdYear>
  <us-gaap:ContractualObligationDueInSecondYear contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">19134000</us-gaap:ContractualObligationDueInSecondYear>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">79520000</us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">22039000</us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDue contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">101559000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
  <sblk:BusinessAcquisitionProFormaEarningsPerShareBasicDiluted contextRef="FYm1YTD" decimals="2" unitRef="EPS">-0.27</sblk:BusinessAcquisitionProFormaEarningsPerShareBasicDiluted>
  <sblk:AccumulatedUpfrontHireAndHandlingFees contextRef="FYp0Qp0e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">54428000</sblk:AccumulatedUpfrontHireAndHandlingFees>
  <sblk:AccumulatedUpfrontHireAndHandlingFees contextRef="FYm1Q4e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">31467000</sblk:AccumulatedUpfrontHireAndHandlingFees>
  <sblk:AccumulatedPreDeliveryYardInstallments contextRef="FYp0Qp0e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">65009000</sblk:AccumulatedPreDeliveryYardInstallments>
  <sblk:AccumulatedPreDeliveryYardInstallments contextRef="FYm1Q4e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">408870000</sblk:AccumulatedPreDeliveryYardInstallments>
  <sblk:ProcurementServicesDailyFee contextRef="FYp0YTD__ShipProcurementServicesS.A.Member" decimals="0" unitRef="USD">295</sblk:ProcurementServicesDailyFee>
  <us-gaap:NotesPayableFairValueDisclosure contextRef="FYp0Qp0e__FairValueInputsLevel1Member" decimals="-3" unitRef="USD">24000000</us-gaap:NotesPayableFairValueDisclosure>
  <dei:TradingSymbol contextRef="FYp0YTD">SBLK</dei:TradingSymbol>
  <dei:TradingSymbol contextRef="FYp0YTD__Issuance50MillionNotesMember">SBLKL</dei:TradingSymbol>
  <us-gaap:CommonStockCapitalSharesReservedForFutureIssuance contextRef="i13-04-2015__EquityIncentivePlan2015Member" decimals="0" unitRef="Shares">1400000</us-gaap:CommonStockCapitalSharesReservedForFutureIssuance>
  <us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet contextRef="FYm1YTD" decimals="-3" unitRef="USD">-1055000</us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet>
  <us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet contextRef="FYp0YTD" decimals="-3" unitRef="USD">-2416000</us-gaap:InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet>
  <sblk:AdvancesForSecondhandVessels contextRef="FYm1Q4e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">79000</sblk:AdvancesForSecondhandVessels>
  <sblk:CapitalizedCostsOther contextRef="FYp0Qp0e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">2172000</sblk:CapitalizedCostsOther>
  <sblk:AccumulatedCapitalizedInterestAndFinanceCosts contextRef="FYp0Qp0e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">6301000</sblk:AccumulatedCapitalizedInterestAndFinanceCosts>
  <sblk:AdvancesForSecondhandVessels contextRef="FYp0Qp0e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">0</sblk:AdvancesForSecondhandVessels>
  <sblk:CapitalizedCostsOther contextRef="FYm1Q4e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">3542000</sblk:CapitalizedCostsOther>
  <sblk:AccumulatedCapitalizedInterestAndFinanceCosts contextRef="FYm1Q4e__AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" decimals="-3" unitRef="USD">10654000</sblk:AccumulatedCapitalizedInterestAndFinanceCosts>
  <us-gaap:LineOfCreditFacilityCovenantTerms contextRef="FYp0YTD">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 (security cover ratio or "SCR");
- 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 2015, the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $150,000, respectively, which is included within "Cash and cash equivalents" in the accompanying balance sheets. In addition, as of December 31, 2014 and 2015, the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,997, respectively, which is included within "Restricted cash" current and non-current , in the accompanying balance sheets. </us-gaap:LineOfCreditFacilityCovenantTerms>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FYp0Qp0e__DVBDeepBlueFacilityMember" decimals="-3" unitRef="USD">31000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to27-05-2015__DVBDeepBlueFacilityMember" decimals="-3" unitRef="USD">28680000</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="d01-01-2015to13-03-2015__HoneyBadgerWolverineMember__SinosureFacilityMember" decimals="-3" unitRef="USD">38162000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FYp0Qp0e" decimals="4" unitRef="EPS">1.4121</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FYp0YTD" decimals="4" unitRef="EPS">1.4121</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <sblk:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue contextRef="i13-04-2015__EquityIncentivePlan2015Member" decimals="2" unitRef="EPS">3.55</sblk:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue>
  <sblk:NumberOfNewbuildingContracts contextRef="i11-7-2014__OceanbulkIMember__VesselsUnderConstructionMember" decimals="0" unitRef="purenodecimals">25</sblk:NumberOfNewbuildingContracts>
  <us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet contextRef="FYm1YTD" decimals="-3" unitRef="USD">0</us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet>
  <us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet contextRef="FYp0YTD" decimals="-3" unitRef="USD">-1793000</us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet>
  <sblk:InterestRateDerivativeGainLossRealizedInEarningsNet contextRef="FYp0YTD__GoldmanSachsSwapsMember__AfterDe-designationOfAccountingHedgingRelationshipMember" decimals="-3" unitRef="USD">-4918000</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">3443000</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">-799000</us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <sblk:NonExecutiveDirectorsCompensation contextRef="FYp0YTD__NonExecutiveDirectorsMember" decimals="-3" unitRef="USD">160000</sblk:NonExecutiveDirectorsCompensation>
  <sblk:NonExecutiveDirectorsCompensation contextRef="FYm1YTD__NonExecutiveDirectorsMember" decimals="-3" unitRef="USD">191000</sblk:NonExecutiveDirectorsCompensation>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="d01-01-2015to13-04-2015__EmployeeStockOptionMember">P5Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="FYm1Qp0e__InterchartShippingIIMember" decimals="4" unitRef="purenodecimals">0.33</us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
  <us-gaap:LongTermDebt contextRef="FYm1Qp0e" decimals="-3" unitRef="USD">861793000</us-gaap:LongTermDebt>
  <us-gaap:CapitalLeasedAssetsNumberOfUnits contextRef="i17-02-2014__CSSCVesselsMember" decimals="0" unitRef="purenodecimals">2</us-gaap:CapitalLeasedAssetsNumberOfUnits>
  <us-gaap:CapitalLeasedAssetsNumberOfUnits contextRef="i27-12-2013__MergerPappasTransactionMember__FiveNewbuildingVesselsMember" decimals="0" unitRef="purenodecimals">5</us-gaap:CapitalLeasedAssetsNumberOfUnits>
  <sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome contextRef="FYp0YTD__SalvageValueMember" decimals="-3" unitRef="USD">6337000</sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome>
  <sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare contextRef="FYp0YTD__SalvageValueMember" decimals="2" unitRef="EPS">0.03</sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="0" unitRef="purenodecimals">64000</sblk:VesselCapacity>
  <us-gaap:CapitalLeasedAssetsNumberOfUnits contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="0" unitRef="purenodecimals">4</us-gaap:CapitalLeasedAssetsNumberOfUnits>
  <us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">120992000</us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet>
  <sblk:PurchasePriceObligation contextRef="FYp0YTD__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">6000000</sblk:PurchasePriceObligation>
  <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__WolverineMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__HoneyBadgerMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__KaleyMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__LauraMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__RobertaMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__IdeeFixeMember">2015</sblk:VesselYearBuilt>
  <us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="FYp0YTD__ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" decimals="-3" unitRef="USD">-974000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
  <sblk:AgreedExtraCostsForNewbuildings contextRef="d01-01-2013to27-12-2013__MergerPappasTransactionMember__FiveNewbuildingVesselsMember" decimals="-3" unitRef="USD">1008000</sblk:AgreedExtraCostsForNewbuildings>
  <sblk:VesselCapacity contextRef="i27-12-2013__MergerPappasTransactionMember__FiveNewbuildingVesselsMember" decimals="0" unitRef="purenodecimals">208000</sblk:VesselCapacity>
  <sblk:AdvancesForVesselsUnderCapitalLeases contextRef="FYp0YTD" decimals="-3" unitRef="USD">15669000</sblk:AdvancesForVesselsUnderCapitalLeases>
  <sblk:OtherVesselAcquisitionCosts contextRef="i17-02-2014__CSSCVesselsMember" decimals="-3" unitRef="USD">669000</sblk:OtherVesselAcquisitionCosts>
  <sblk:HandlingFees contextRef="d01-01-2014to17-02-2014__CSSCVesselsMember__FirstInstallmentMember" decimals="-3" unitRef="USD">462000</sblk:HandlingFees>
  <sblk:HandlingFees contextRef="d01-01-2014to17-02-2014__CSSCVesselsMember" decimals="-3" unitRef="USD">936000</sblk:HandlingFees>
  <sblk:PurchasePriceObligation contextRef="d01-01-2014to17-02-2014__CSSCSecondVesselMember" decimals="-3" unitRef="USD">12000000</sblk:PurchasePriceObligation>
  <sblk:PurchasePriceObligation contextRef="d01-01-2014to17-02-2014__CSSCFirstVesselMember" decimals="-3" unitRef="USD">12960000</sblk:PurchasePriceObligation>
  <sblk:VesselCapacity contextRef="i17-02-2014__CSSCVesselsMember" decimals="0" unitRef="purenodecimals">208000</sblk:VesselCapacity>
  <us-gaap:ChangeInAccountingEstimateFinancialEffect contextRef="FYp0YTD__SalvageValueMember">The change in this accounting estimate, which pursuant to ASC 250 "Accounting Changes and Error Corrections" was applied prospectively and did not require retrospective application, decreased the depreciation expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share.</us-gaap:ChangeInAccountingEstimateFinancialEffect>
  <us-gaap:ChangeInAccountingEstimateDescription contextRef="FYp0YTD__SalvageValueMember">Effective as of January 1, 2015, following management's reassessment of the residual value of the Company's vessels, the Company increased the estimated scrap rate per light weight tonnage 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="FYp0Qp0e__SerenityIMember" decimals="0" unitRef="purenodecimals">53688</sblk:VesselCapacity>
  <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__MartoMember" decimals="0" unitRef="purenodecimals">74470</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__RenascentiaMember" decimals="0" unitRef="purenodecimals">74732</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__BigFishIMember" decimals="0" unitRef="purenodecimals">177643</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>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__ObelixIMember">2011</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__KymopoliaIMember">2006</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__SerenityIMember">2006</sblk:VesselYearBuilt>
  <sblk:EffectiveDateManagementAgreement contextRef="FYp0YTD__SerenityIMember">June 11, 2011</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__MaidenVoyageIMember">September 28, 2012</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__StrangeAttractorIMember">September 24, 2013</sblk:EffectiveDateManagementAgreement>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__MartoMember">2001</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__MercurialVirgoIMember">2013</sblk:VesselYearBuilt>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__MartoMember">August 2, 2013</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__RenascentiaMember">June 20, 2013</sblk:EffectiveDateManagementAgreement>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__RenascentiaMember">1999</sblk:VesselYearBuilt>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__MercurialVirgoIMember">February 17, 2014</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__PendulumIMember">February 17, 2014</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__AmamiIMember">February 4, 2014</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__MadredeusIMember">February 4, 2014</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__BigFishIMember">October 18, 2013</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__BigBangIMember">August 30, 2013</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__PantagruelIMember">October 24, 2013</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__ObelixIMember">October 19, 2012</sblk:EffectiveDateManagementAgreement>
  <sblk:EffectiveDateManagementAgreement contextRef="FYm1YTD__KymopoliaIMember">January 30, 2014</sblk:EffectiveDateManagementAgreement>
  <sblk:DailyManagementFee contextRef="FYp0YTD" decimals="0" unitRef="USD">750</sblk:DailyManagementFee>
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Taxonomy 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) 2002-2016 UBmatrix inc., All Rights Reserved
Produced on 2016-03-21 22:38:33
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="Hull1338Member"
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    nillable="true" />
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    name="Hull1339Member"
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    name="Hull1342Member"
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    name="Hull1343Member"
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    name="Hull5040Member"
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    name="HullAndMachineryClaimMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="HullNE196Member"
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    nillable="true" />
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    name="HullNo1371Member"
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    name="HullNo1372Member"
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    nillable="true" />
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    name="IdeeFixeMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="IndomitableMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="InflationAssumption"
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    xbrli:periodType="duration"
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    xbrli:periodType="duration"
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="InterchartShippingIIMember"
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="InterchartShippingMember"
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
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    name="InterestRateSwap1Member"
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="InterestRateSwap2Member"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="InterestRateSwapsMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
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    name="KaleyMember"
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    substitutionGroup="xbrli:item"
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    nillable="true" />
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    name="KamsarmaxVesselsMember"
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="KennadiMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="KoreaLineCorporationMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="KymopoliaIMember"
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    nillable="true" />
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    name="LastFourInstallmentsMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="LastSixteenInstallmentsMember"
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="LastTwentyInstallmentsMember"
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    xbrli:periodType="duration"
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    nillable="true" />
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    name="LauraMember"
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    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
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    xbrli:balance="credit"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="LeviathanMember"
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    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
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    xbrli:balance="debit"
    nillable="true" />
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    xbrli:balance="debit"
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    nillable="true" />
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    nillable="true" />
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    nillable="true" />
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    xbrli:periodType="duration"
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    xbrli:periodType="duration"
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    name="NumberOfVessels"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    name="OaktreeMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="ObelixIMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="OceanbulkIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="OceanbulkMaritimeMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="OceanbulkSellersMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="OffHireDays"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_OperatingVesselsSoldAndDeliveredMember"
    name="OperatingVesselsSoldAndDeliveredMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OperatingVesselsSoldButNotYetDeliveredMember"
    name="OperatingVesselsSoldButNotYetDeliveredMember"
    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_OtherOperationalGainTextBlock"
    name="OtherOperationalGainTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_OtherOperationalLossTextBlock"
    name="OtherOperationalLossTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_OtherVesselAcquisitionCosts"
    name="OtherVesselAcquisitionCosts"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
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    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" />
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    id="sblk_PappasCompaniesMember"
    name="PappasCompaniesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    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" />
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    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" />
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    id="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
    name="PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="PercentOfQuarterlyInstallmentsDeferred"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_PercentageOfFutureProceedsSold"
    name="PercentageOfFutureProceedsSold"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_PeriodicPaymentsDeferredAmount"
    name="PeriodicPaymentsDeferredAmount"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    name="PiraeusBankS.A.TermLoanBMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="PiraeusBankS.A.TermLoanMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_PiraeusBankS.A.TermLoansMember"
    name="PiraeusBankS.A.TermLoansMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="PoolAgreementMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="PortCharges"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
    name="PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="ProceedsFromCancellationOfVesselsUnderConstruction"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_ProceedsReceivedOnTransferClaim"
    name="ProceedsReceivedOnTransferClaim"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
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    name="ProcurementServicesDailyFee"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_ProductShippingTradingMember"
    name="ProductShippingTradingMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_PurchasePriceObligation"
    name="PurchasePriceObligation"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_RebateAmount"
    name="RebateAmount"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
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    id="sblk_RebateFromPreviousManningAgentMember"
    name="RebateFromPreviousManningAgentMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="ReceivableConvertibleConversionRatio"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    id="sblk_ReceivablePercentageOfAmountPaidInCash"
    name="ReceivablePercentageOfAmountPaidInCash"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    name="ReclassificationAdjustmentDueToSCRShortfallMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="RehabilitationPlanMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="RelatedPartiesAgreementSaleOfVesselMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_RelatedPartiesCommissionsFees"
    name="RelatedPartiesCommissionsFees"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    name="RenascentiaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_RenewalConsultancyAgreementsMember"
    name="RenewalConsultancyAgreementsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_RentExpensePerMonth"
    name="RentExpensePerMonth"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    name="ResultsOfOperationsForCompaniesAcquiredTableTextBlock"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="RevenueExpenseRecognitionPolicyTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="ReverseStockSplitMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="RobertaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="RodonMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SWSVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SaleLeasebackArrangementMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_SaleOfFutureClaimsProceeds"
    name="SaleOfFutureClaimsProceeds"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    name="SaleVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SandraMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="ScrapValuePerLightWeightTon"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="Second-priorityMortgageMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SecondInstallmentMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SecondPriorityMortgageMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SerenityIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    name="ServicesAgreementDailyFeeRemunerationPerVessel"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    name="ServicesAgreementMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    name="SettlementAgreementWithIshharOverseasFZEMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="ShipbuildingContractsTerminationMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SignificantCharterersMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SinosureFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="SpanishPortAuthoritiesFinesMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="StarAlineMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="StarAlphaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    nillable="true" />
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    name="StarAngelinaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarAngieMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarAntaresMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarAquariusMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarAriesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarAuroraMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarBetaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarBigAndStarMegaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarBigMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarBorealisIIIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
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    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    name="StarBorealisMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
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    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_UltramaxVesselsMember"
    name="UltramaxVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_UnrealizedMember"
    name="UnrealizedMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_UpgradingExpense"
    name="UpgradingExpense"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselAcquisitionCommissionPercentage"
    name="VesselAcquisitionCommissionPercentage"
    type="num:percentItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselAcquisitionContractPrice"
    name="VesselAcquisitionContractPrice"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselCapacity"
    name="VesselCapacity"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_VesselGross"
    name="VesselGross"
    type="xbrli:monetaryItemType"
    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_VesselsAndAdvancesForVesselsUnderConstructionNet"
    name="VesselsAndAdvancesForVesselsUnderConstructionNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    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_VesselsInOperationIIMember"
    name="VesselsInOperationIIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    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_VesselsNetMember"
    name="VesselsNetMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsSalesAgreementsMember"
    name="VesselsSalesAgreementsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsSalesMember"
    name="VesselsSalesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsSalvageValuePerLightWeightTon"
    name="VesselsSalvageValuePerLightWeightTon"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselsSold"
    name="VesselsSold"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    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>10
<FILENAME>sblk-20151231_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) 2002-2016 UBmatrix inc., All Rights Reserved
Produced on 2016-03-21 22:38:33
-->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>12
<FILENAME>sblk-20151231_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
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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) 2002-2016 UBmatrix inc., All Rights Reserved
Produced on 2016-03-21 22:38:33
-->
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of Incorporation</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityRegistrantName"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityRegistrantName"
      xlink:to="dei_EntityRegistrantName_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityRegistrantName_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Enity Registrant Name</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityVoluntaryFilers"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" />
    <labelArc xlink:type="arc"
      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-20151231.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_ABYOAudreyMember"
      xlink:href="sblk-20151231.xsd#sblk_ABYOAudreyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABYOAudreyMember" xlink:to="sblk_ABYOAudreyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABYOAudreyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABYO Audrey [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABYOAudreyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABYO Audrey</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ABYOOprahMember"
      xlink:href="sblk-20151231.xsd#sblk_ABYOOprahMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABYOOprahMember" xlink:to="sblk_ABYOOprahMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABYOOprahMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABYO Oprah [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABYOOprahMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABYO Oprah</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AbnAmroBankMember"
      xlink:href="sblk-20151231.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_AboveMarketLeasesIIMember"
      xlink:href="sblk-20151231.xsd#sblk_AboveMarketLeasesIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AboveMarketLeasesIIMember"
      xlink:to="sblk_AboveMarketLeasesIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AboveMarketLeasesIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Leases acquired at above market lease rates.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AboveMarketLeasesIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Above Market Leases II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AboveMarketLeasesIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Above market time charters</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccountsReceivableCollectionPeriod"
      xlink:href="sblk-20151231.xsd#sblk_AccountsReceivableCollectionPeriod" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccountsReceivableCollectionPeriod"
      xlink:to="sblk_AccountsReceivableCollectionPeriod_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Period over which a receivable is collected, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accounts Receivable Collection Period</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccountsReceivableCollectionPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Collection period</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedAuditFeesCurrent"
      xlink:href="sblk-20151231.xsd#sblk_AccruedAuditFeesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedAuditFeesCurrent"
      xlink:to="sblk_AccruedAuditFeesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedAuditFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedAuditFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Audit Fees Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedAuditFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Audit fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedLegalFeesCurrent"
      xlink:href="sblk-20151231.xsd#sblk_AccruedLegalFeesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedLegalFeesCurrent"
      xlink:to="sblk_AccruedLegalFeesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLegalFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for legal services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLegalFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Legal Fees Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLegalFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent"
      xlink:href="sblk-20151231.xsd#sblk_AccruedLoanInterestAndFinancingFeesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedLoanInterestAndFinancingFeesCurrent"
      xlink:to="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for loan interest and financing fees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Loan Interest And Financing Fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedLoanInterestAndFinancingFeesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan interest and financing fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent"
      xlink:href="sblk-20151231.xsd#sblk_AccruedOperatingAndVoyageExpensesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedOperatingAndVoyageExpensesCurrent"
      xlink:to="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for operating and voyage expenses. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Operating And Voyage Expenses</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedOperatingAndVoyageExpensesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating and voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent"
      xlink:href="sblk-20151231.xsd#sblk_AccruedProfessionalFeesOtherCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccruedProfessionalFeesOtherCurrent"
      xlink:to="sblk_AccruedProfessionalFeesOtherCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying value as of the balance sheet date of obligations incurred through that date and payable for other professional fees, excluding legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Professional Fees Other Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccruedProfessionalFeesOtherCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other professional fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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 and fair value adjustment (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees"
      xlink:href="sblk-20151231.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-20151231.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_AddressCommissionPercentage"
      xlink:href="sblk-20151231.xsd#sblk_AddressCommissionPercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AddressCommissionPercentage"
      xlink:to="sblk_AddressCommissionPercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AddressCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Commission payable by the shipowner to the charterer, expressed as a percentage of the freight or hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AddressCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Address Commission Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_AddressCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Address commission</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancePaymentForVesselDisposal"
      xlink:href="sblk-20151231.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">Advances from sale of vessel</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 (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForSecondhandVessels"
      xlink:href="sblk-20151231.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_AdvancesForVesselUnderConstructionMember"
      xlink:href="sblk-20151231.xsd#sblk_AdvancesForVesselUnderConstructionMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselUnderConstructionMember"
      xlink:to="sblk_AdvancesForVesselUnderConstructionMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessel Under Construction [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_AdvancesForVesselsAcquisitionsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
      xlink:to="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl" />
    <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-20151231.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-20151231.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"
      xlink:href="sblk-20151231.xsd#sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
      xlink:to="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract_lbl" />
    <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-20151231.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
      xlink:to="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract_lbl" />
    <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-20151231.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
      xlink:to="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl" />
    <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-20151231.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
      xlink:to="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl" />
    <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_AdvancesForVesselsUnderConstructionPolicyTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock"
      xlink:to="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for advances for vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Construction [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"
      xlink:href="sblk-20151231.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_AggregateConsiderationTransferredForPurchaseVessels"
      xlink:href="sblk-20151231.xsd#sblk_AggregateConsiderationTransferredForPurchaseVessels" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AggregateConsiderationTransferredForPurchaseVessels"
      xlink:to="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Aggregate consideration transferred for the purchase of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Aggregate Consideration Transferred For Purchase Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateConsiderationTransferredForPurchaseVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contracted purchase price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.xsd#sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
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    <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-20151231.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-20151231.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_ArbitrationProceedingsMember"
      xlink:href="sblk-20151231.xsd#sblk_ArbitrationProceedingsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ArbitrationProceedingsMember"
      xlink:to="sblk_ArbitrationProceedingsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ArbitrationProceedingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Arbitration Proceedings [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ArbitrationProceedingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Arbitration proceedings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated"
      xlink:href="sblk-20151231.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 and 5)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AstakosMember"
      xlink:href="sblk-20151231.xsd#sblk_AstakosMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AstakosMember" xlink:to="sblk_AstakosMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AstakosMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Astakos.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AstakosMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Astakos [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AstakosMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Astakos</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AverageClosingMarketPrice"
      xlink:href="sblk-20151231.xsd#sblk_AverageClosingMarketPrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AverageClosingMarketPrice"
      xlink:to="sblk_AverageClosingMarketPrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AverageClosingMarketPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The average closing market price as determined over a period of time.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AverageClosingMarketPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Average Closing Market Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_AverageClosingMarketPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average closing market price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BNPCommittedTermSheetMember"
      xlink:href="sblk-20151231.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 $39,500 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BNPFacilityMember"
      xlink:href="sblk-20151231.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-20151231.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 (3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember"
      xlink:href="sblk-20151231.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 (4)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeforeHedgingDesginationMember"
      xlink:href="sblk-20151231.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_BehemothMember"
      xlink:href="sblk-20151231.xsd#sblk_BehemothMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BehemothMember" xlink:to="sblk_BehemothMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BehemothMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Behemoth [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BehemothMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Behemoth</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BenefialOwnershipOf40OrMoreMember"
      xlink:href="sblk-20151231.xsd#sblk_BenefialOwnershipOf40OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BenefialOwnershipOf40OrMoreMember"
      xlink:to="sblk_BenefialOwnershipOf40OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BenefialOwnershipOf40OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 40% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BenefialOwnershipOf40OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership Of 40% Or More</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember"
      xlink:href="sblk-20151231.xsd#sblk_BeneficialOwnershipOf15OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeneficialOwnershipOf15OrMoreMember"
      xlink:to="sblk_BeneficialOwnershipOf15OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 15% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf15OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership of 15% but less than 25%</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember"
      xlink:href="sblk-20151231.xsd#sblk_BeneficialOwnershipOf25OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeneficialOwnershipOf25OrMoreMember"
      xlink:to="sblk_BeneficialOwnershipOf25OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 25% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf25OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership of 25% but less than 40%</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember"
      xlink:href="sblk-20151231.xsd#sblk_BeneficialOwnershipOf5OrMoreMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeneficialOwnershipOf5OrMoreMember"
      xlink:to="sblk_BeneficialOwnershipOf5OrMoreMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Beneficial Ownership Of 5% Or More [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeneficialOwnershipOf5OrMoreMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Beneficial Ownership of 5% but less than 15%</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BigBangIMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_BrunoMarksMember"
      xlink:href="sblk-20151231.xsd#sblk_BrunoMarksMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BrunoMarksMember" xlink:to="sblk_BrunoMarksMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BrunoMarksMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bruno Marks [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BrunoMarksMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bruno Marks</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BunkerInventoryCurrent"
      xlink:href="sblk-20151231.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-20151231.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_BusinessCombinationAdjustmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationAdjustmentsMember"
      xlink:to="sblk_BusinessCombinationAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Business combination adjustments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of structure or a modification to a structure under construction, acquired at the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Construction In Progress Gross</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessel acquisition and vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of liabilities due within one year or within the normal operating cycle, if longer, assumed at the acquisition date, excluding current portion of long term bank debt and derivative financial liabilities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Excluding Current Portion Of Long Term Bank Debt And Derivative Financial Liabilites</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The asset arising from the above market value of the time charter contract assumed from a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of above market acquired charters</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of long-term debt, assumed at the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Long Term Debt</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term debt, including current portion</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Long term debt assumed after business combination</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of restricetd cash acquired at the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Restricted Cash</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"
      xlink:href="sblk-20151231.xsd#sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet"
      xlink:to="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents vessels net of accumulated depreciation recognized as of the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Combination Recognized Identifiable Assets Acquired Liabilities Assumed Vessels Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CEXIMFacilityMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_CashCollateralForPollutionRelease"
      xlink:href="sblk-20151231.xsd#sblk_CashCollateralForPollutionRelease" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CashCollateralForPollutionRelease"
      xlink:to="sblk_CashCollateralForPollutionRelease_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CashCollateralForPollutionRelease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Cash collateral for environmental polution released after being covered by Protection and Idemnity (P&amp;I) Club insurance.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CashCollateralForPollutionRelease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cash Collateral For Pollution Release</label>
    <label xlink:type="resource"
      xlink:label="sblk_CashCollateralForPollutionRelease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash collateral for pollution release</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CertainChangesOfControlEventsMember"
      xlink:href="sblk-20151231.xsd#sblk_CertainChangesOfControlEventsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CertainChangesOfControlEventsMember"
      xlink:to="sblk_CertainChangesOfControlEventsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CertainChangesOfControlEventsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Certain Changes Of Control Events [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CertainChangesOfControlEventsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Certain changes of control events</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer1Member"
      xlink:href="sblk-20151231.xsd#sblk_Charterer1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer1Member" xlink:to="sblk_Charterer1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer2Member"
      xlink:href="sblk-20151231.xsd#sblk_Charterer2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer2Member" xlink:to="sblk_Charterer2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer B</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer3Member"
      xlink:href="sblk-20151231.xsd#sblk_Charterer3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer3Member" xlink:to="sblk_Charterer3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer C</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Charterer4Member"
      xlink:href="sblk-20151231.xsd#sblk_Charterer4Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Charterer4Member" xlink:to="sblk_Charterer4Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Charterer4Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Charterer 4 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Charterer4Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charterer D</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember"
      xlink:href="sblk-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Martha (ex Christine)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember"
      xlink:href="sblk-20151231.xsd#sblk_ChristineSandraAndLowlandsBeilunMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChristineSandraAndLowlandsBeilunMember"
      xlink:to="sblk_ChristineSandraAndLowlandsBeilunMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Christine Sandra And Lowlands Beilun [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineSandraAndLowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Christine, Sandra and Lowlands Beilun</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChristineShipcoLLCMember"
      xlink:href="sblk-20151231.xsd#sblk_ChristineShipcoLLCMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChristineShipcoLLCMember"
      xlink:to="sblk_ChristineShipcoLLCMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChristineShipcoLLCMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Christine Shipco LLC.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineShipcoLLCMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Christine Shipco LLC [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineShipcoLLCMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Christine Shipco LLC</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CitiFacilityMember"
      xlink:href="sblk-20151231.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_CombineMarineLtdMember"
      xlink:href="sblk-20151231.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_CommercialClaimMember"
      xlink:href="sblk-20151231.xsd#sblk_CommercialClaimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommercialClaimMember"
      xlink:to="sblk_CommercialClaimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommercialClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commercial Claim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommercialClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commercial claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember"
      xlink:href="sblk-20151231.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_CommerzbankAg120000FacilitiyMember"
      xlink:href="sblk-20151231.xsd#sblk_CommerzbankAg120000FacilitiyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAg120000FacilitiyMember"
      xlink:to="sblk_CommerzbankAg120000FacilitiyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg120000FacilitiyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag 120000 Facilitiy [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg120000FacilitiyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 Facilitiy</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAg26000FacilityMember"
      xlink:href="sblk-20151231.xsd#sblk_CommerzbankAg26000FacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAg26000FacilityMember"
      xlink:to="sblk_CommerzbankAg26000FacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag 26000 Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAg26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $26000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember"
      xlink:href="sblk-20151231.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">Commerzbank $120,000 and $26,000 facilities - Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember"
      xlink:href="sblk-20151231.xsd#sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember"
      xlink:to="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag Aggregate Facility Second Supplemental [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilitySecondSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities - Second Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember"
      xlink:href="sblk-20151231.xsd#sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember"
      xlink:to="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag Aggregate Facility Third Supplemental [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityThirdSupplementalMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities - Third Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommisionsOnSaleOfAssets"
      xlink:href="sblk-20151231.xsd#sblk_CommisionsOnSaleOfAssets" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommisionsOnSaleOfAssets"
      xlink:to="sblk_CommisionsOnSaleOfAssets_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommisionsOnSaleOfAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Commisions on sale of assets.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommisionsOnSaleOfAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commisions On Sale Of Assets</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommisionsOnSaleOfAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Commission on sale of vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor"
      xlink:href="sblk-20151231.xsd#sblk_ConstructionCostPerVesselFinancedByLessor" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConstructionCostPerVesselFinancedByLessor"
      xlink:to="sblk_ConstructionCostPerVesselFinancedByLessor_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of construction costs per vessel financed by the lessor.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Construction Cost Per Vessel Financed By Lessor</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVesselFinancedByLessor_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Construction cost per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConstructionCostPerVessel"
      xlink:href="sblk-20151231.xsd#sblk_ConstructionCostPerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConstructionCostPerVessel"
      xlink:to="sblk_ConstructionCostPerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of construction costs per vessel financed by the relevant shipyard company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Construction Cost Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConstructionCostPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Construction cost per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConsultancyAgreementsMember"
      xlink:href="sblk-20151231.xsd#sblk_ConsultancyAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConsultancyAgreementsMember"
      xlink:to="sblk_ConsultancyAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Consulting agreements with related parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Consultancy Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consultancy agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember"
      xlink:href="sblk-20151231.xsd#sblk_ConsultingAgreementsFollowingCompletionOfMergerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember"
      xlink:to="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Consulting Agreements Following Completion Of Merger [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConsultingAgreementsFollowingCompletionOfMergerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consulting agreements following the completion of the merger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ContractualObligationDue"
      xlink:href="sblk-20151231.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_ConversionOfReceivablePercentageOfAmountConverted"
      xlink:href="sblk-20151231.xsd#sblk_ConversionOfReceivablePercentageOfAmountConverted" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConversionOfReceivablePercentageOfAmountConverted"
      xlink:to="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of receivable amount converted into shares in a part noncash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Conversion Of Receivable, Percentage Of Amount Converted</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountConverted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of amount converted into shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash"
      xlink:href="sblk-20151231.xsd#sblk_ConversionOfReceivablePercentageOfAmountPaidInCash" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash"
      xlink:to="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of receivable amount paid in cash  in a part noncash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Conversion Of Receivable Percentage Of Amount Paid In Cash</label>
    <label xlink:type="resource"
      xlink:label="sblk_ConversionOfReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of amount paid in cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds"
      xlink:href="sblk-20151231.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 to be allowed to pay dividends</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember"
      xlink:href="sblk-20151231.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-20151231.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_CrossCollateralBareboatVesselsMember"
      xlink:href="sblk-20151231.xsd#sblk_CrossCollateralBareboatVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CrossCollateralBareboatVesselsMember"
      xlink:to="sblk_CrossCollateralBareboatVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CrossCollateralBareboatVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cross Collateral Bareboat Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CrossCollateralBareboatVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cross collateral, Bareboat vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CyprusMember"
      xlink:href="sblk-20151231.xsd#sblk_CyprusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CyprusMember" xlink:to="sblk_CyprusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CyprusMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cyprus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CyprusMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cyprus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">DVB $31,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DVBFacilityMember"
      xlink:href="sblk-20151231.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-20151231.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_DebtInstrumentCovenantAmountOfEquityToBeRaised"
      xlink:href="sblk-20151231.xsd#sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised"
      xlink:to="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">States the amount of equity that the company is obliged to raise under the debt instrument covenants.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Covenant Amount Of Equity To Be Raised</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount of equity to be raised under debt instrument covenants</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount"
      xlink:href="sblk-20151231.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_DebtInstrumentWaiverFeePercentage"
      xlink:href="sblk-20151231.xsd#sblk_DebtInstrumentWaiverFeePercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentWaiverFeePercentage"
      xlink:to="sblk_DebtInstrumentWaiverFeePercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fee expressed as a percentage of the outstanding loan balance.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Waiver Fee Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentWaiverFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Waiver fee percentage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeepBlueMember"
      xlink:href="sblk-20151231.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_DefiniteAgreementsMember"
      xlink:href="sblk-20151231.xsd#sblk_DefiniteAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DefiniteAgreementsMember"
      xlink:to="sblk_DefiniteAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Definite Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Definite agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeliveryDateVessel"
      xlink:href="sblk-20151231.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</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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_DryDockingCostsPolicyTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_DryDockingCostsPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DryDockingCostsPolicyTextBlock"
      xlink:to="sblk_DryDockingCostsPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for dry docking costs.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Dry Docking Costs [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DryDockingCostsPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dry docking and special survey expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EffectiveDateManagementAgreement"
      xlink:href="sblk-20151231.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_EquityIncentivePlan2013Member"
      xlink:href="sblk-20151231.xsd#sblk_EquityIncentivePlan2013Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2013Member"
      xlink:to="sblk_EquityIncentivePlan2013Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2013Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2013 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2013Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2013</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2014Member"
      xlink:href="sblk-20151231.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-20151231.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"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">The equity incentive plan of 2015.</label>
    <label xlink:type="resource"
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      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"
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      xlink:role="http://www.xbrl.org/2003/role/label">Excel Maritime Carriers Ltd Definite Agreements [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Definite Agreements with Excel Maritime Carriers Ltd</label>
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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/terseLabel">Excel Maritime Carriers Ltd</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Excel Transactions Soce Adjustments [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Transactions (Note 1)</label>
    <loc xlink:type="locator"
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      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"
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      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>
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      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"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Excel Vessel Bridge Facility.</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility III [Member]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility</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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      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"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel vessel Bridge Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
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      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-20151231.xsd#sblk_ExcelVesselBridgeFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityMember"
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    <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-20151231.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-20151231.xsd#sblk_ExcelVesselsIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselsIIMember"
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    <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_ExcelVesselsMember"
      xlink:href="sblk-20151231.xsd#sblk_ExcelVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselsMember" xlink:to="sblk_ExcelVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessels acquired from Excel Maritime Carriers Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsMember_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-20151231.xsd#sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock"
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    <label xlink:type="resource"
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      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-20151231.xsd#sblk_FairValueAdjustmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueAdjustmentMember"
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    <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"
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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">Fair Value Of Above-Market Acquired Time Charters [Abstract]</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">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"
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      xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
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      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"
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      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"
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      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"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Balance</label>
    <loc xlink:type="locator"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      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-20151231.xsd#sblk_FinancedBySWSOwnerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancedBySWSOwnerMember"
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    <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_FinancedThroughBareboatCapitalLeaseArrangementsMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember"
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    <label xlink:type="resource"
      xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financed Through Bareboat Capital Lease Arrangements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financed through bareboat capital lease arrangements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancingHeronVesselsMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancingHeronVesselsMember"
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    <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_FinancingReceivableWriteOffs"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancingReceivableWriteOffs"
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    <label xlink:type="resource"
      xlink:label="sblk_FinancingReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of write-downs of financing receivables.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancingReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financing Receivable Write Offs</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancingReceivableWriteOffs_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Write off, Loan receivable</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstFourInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_FirstFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstFourInstallmentsMember"
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    <label xlink:type="resource"
      xlink:label="sblk_FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstFourteenInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_FirstFourteenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstFourteenInstallmentsMember"
      xlink:to="sblk_FirstFourteenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstFourteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Fourteen Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstFourteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First fourteen installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstInstallmentIIMember"
      xlink:href="sblk-20151231.xsd#sblk_FirstInstallmentIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstInstallmentIIMember"
      xlink:to="sblk_FirstInstallmentIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Installment II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstInstallmentMember"
      xlink:href="sblk-20151231.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_FirstPriorityMortgageMember"
      xlink:href="sblk-20151231.xsd#sblk_FirstPriorityMortgageMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstPriorityMortgageMember"
      xlink:to="sblk_FirstPriorityMortgageMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstPriorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Priority Mortgage [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstPriorityMortgageMember_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_FiveNewbuildingVesselsMember"
      xlink:href="sblk-20151231.xsd#sblk_FiveNewbuildingVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FiveNewbuildingVesselsMember"
      xlink:to="sblk_FiveNewbuildingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FiveNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Five Newbuilding Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FiveNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Five newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember"
      xlink:href="sblk-20151231.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_FlatFeePerVessel"
      xlink:href="sblk-20151231.xsd#sblk_FlatFeePerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FlatFeePerVessel" xlink:to="sblk_FlatFeePerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FlatFeePerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Flat fee charged per each newbuilding vessel, as commission fee relative to the negotiations with the shipyards on the construction of the Company's contracted newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FlatFeePerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Flat Fee Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_FlatFeePerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel acquisition commission, Flat fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FleetUtilizationAssumption"
      xlink:href="sblk-20151231.xsd#sblk_FleetUtilizationAssumption" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FleetUtilizationAssumption"
      xlink:to="sblk_FleetUtilizationAssumption_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FleetUtilizationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fleet utilization rate assumption used in the impairment test of long lived assets.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FleetUtilizationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fleet Utilization Assumption</label>
    <label xlink:type="resource"
      xlink:label="sblk_FleetUtilizationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fleet utilization assumption</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FormerChiefExecutiveOfficerMember"
      xlink:href="sblk-20151231.xsd#sblk_FormerChiefExecutiveOfficerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FormerChiefExecutiveOfficerMember"
      xlink:to="sblk_FormerChiefExecutiveOfficerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FormerChiefExecutiveOfficerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Former Chief Executive Officer [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FormerChiefExecutiveOfficerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Former Chief Executive Officer</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FormerDirectorMember"
      xlink:href="sblk-20151231.xsd#sblk_FormerDirectorMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FormerDirectorMember"
      xlink:to="sblk_FormerDirectorMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FormerDirectorMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Former Director [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FormerDirectorMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Company's former director</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember"
      xlink:href="sblk-20151231.xsd#sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember"
      xlink:to="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Future minimum, non-cancellable lease payment under vessel operating leases [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Future, minimum non cancellable lease payment under vessel operating leases</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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 10)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings"
      xlink:href="sblk-20151231.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_GainLossOnSaleOfClaim"
      xlink:href="sblk-20151231.xsd#sblk_GainLossOnSaleOfClaim" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainLossOnSaleOfClaim"
      xlink:to="sblk_GainLossOnSaleOfClaim_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnSaleOfClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Total amount of gain / (loss) on sale of claim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnSaleOfClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Sale Of Claim</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnSaleOfClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gain on sale of claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GargantuaAndGoliathAndMaharajMember"
      xlink:href="sblk-20151231.xsd#sblk_GargantuaAndGoliathAndMaharajMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GargantuaAndGoliathAndMaharajMember"
      xlink:to="sblk_GargantuaAndGoliathAndMaharajMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaAndGoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gargantua And Goliath And Maharaj [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaAndGoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gargantua, Goliath and Maharaj</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GargantuaMember"
      xlink:href="sblk-20151231.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_GoldmanSachsBankUSAMember"
      xlink:href="sblk-20151231.xsd#sblk_GoldmanSachsBankUSAMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoldmanSachsBankUSAMember"
      xlink:to="sblk_GoldmanSachsBankUSAMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsBankUSAMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The financial institution Goldman Sachs Bank USA.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsBankUSAMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goldman Sachs Bank USA Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsBankUSAMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goldman Sachs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoldmanSachsSwapsMember"
      xlink:href="sblk-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Goliath and Maharaj</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoliathMember"
      xlink:href="sblk-20151231.xsd#sblk_GoliathMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoliathMember" xlink:to="sblk_GoliathMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoliathMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goliath [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goliath</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GreeceMember"
      xlink:href="sblk-20151231.xsd#sblk_GreeceMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GreeceMember" xlink:to="sblk_GreeceMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GreeceMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Greece [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GreeceMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Greece</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GrossDailyCharterRate"
      xlink:href="sblk-20151231.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-20151231.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/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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_HeldInEscrowForHeronVesselsMember"
      xlink:href="sblk-20151231.xsd#sblk_HeldInEscrowForHeronVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeldInEscrowForHeronVesselsMember"
      xlink:to="sblk_HeldInEscrowForHeronVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeldInEscrowForHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Held In Escrow For Heron Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeldInEscrowForHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Held in escrow for Heron vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronConvertibleLoanMember"
      xlink:href="sblk-20151231.xsd#sblk_HeronConvertibleLoanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronConvertibleLoanMember"
      xlink:to="sblk_HeronConvertibleLoanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronConvertibleLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Heron Convertible Loan.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronConvertibleLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Convertible Loan [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronConvertibleLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Convertible Loan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronTransactionSoceAdjustmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_HeronTransactionSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronTransactionSoceAdjustmentsMember"
      xlink:to="sblk_HeronTransactionSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Transaction Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Transaction in escrow account (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronVenturesLtdMember"
      xlink:href="sblk-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Heron Transaction in escrow account (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronVesselsIIMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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_HshNordbankAg3SupplementalAgreementMember"
      xlink:href="sblk-20151231.xsd#sblk_HshNordbankAg3SupplementalAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HshNordbankAg3SupplementalAgreementMember"
      xlink:to="sblk_HshNordbankAg3SupplementalAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hsh Nordbank Ag 3 Supplemental Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3SupplementalAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSH Nordbank AG $64,500 facility, Supplemental Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HshNordbankAgMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_HullAndMachineryClaimMember"
      xlink:href="sblk-20151231.xsd#sblk_HullAndMachineryClaimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullAndMachineryClaimMember"
      xlink:to="sblk_HullAndMachineryClaimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullAndMachineryClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull And Machinery Claim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullAndMachineryClaimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull and Machinery Insurance Claim and Protection and Indemnity Claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE196Member"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_InflationAssumption"
      xlink:href="sblk-20151231.xsd#sblk_InflationAssumption" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InflationAssumption"
      xlink:to="sblk_InflationAssumption_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InflationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The assumption for the average rate of inflation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InflationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Inflation Assumption</label>
    <label xlink:type="resource"
      xlink:label="sblk_InflationAssumption_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inflation assumption</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InsuranceCoverageMaximumAmount"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Acquisition of 33% of Interchart (Note 10)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartShippingMember"
      xlink:href="sblk-20151231.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_InterchartSoceAdjustmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_InterchartSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartSoceAdjustmentsMember"
      xlink:to="sblk_InterchartSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Acquisition of 33% of Interchart (Note 9)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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 13), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KaleyMember"
      xlink:href="sblk-20151231.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-20151231.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_KennadiMember"
      xlink:href="sblk-20151231.xsd#sblk_KennadiMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KennadiMember" xlink:to="sblk_KennadiMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KennadiMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kennadi [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KennadiMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kennadi</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KoreaLineCorporationMember"
      xlink:href="sblk-20151231.xsd#sblk_KoreaLineCorporationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KoreaLineCorporationMember"
      xlink:to="sblk_KoreaLineCorporationMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KoreaLineCorporationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Korea Line Corporation</label>
    <label xlink:type="resource"
      xlink:label="sblk_KoreaLineCorporationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Korea Line Corporation [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KoreaLineCorporationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Korea Line Crporation ("KLC")</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KymopoliaIMember"
      xlink:href="sblk-20151231.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_LastFourInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_LastFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LastFourInstallmentsMember"
      xlink:to="sblk_LastFourInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LastFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Last Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Last four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LastSixteenInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_LastSixteenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LastSixteenInstallmentsMember"
      xlink:to="sblk_LastSixteenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The last sixteen installments of a cash favorable payment upon settlement of a legal threat made to another party.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Last Sixteen Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastSixteenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Last sixteen installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LastTwentyInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_LastTwentyInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LastTwentyInstallmentsMember"
      xlink:to="sblk_LastTwentyInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LastTwentyInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Last Twenty Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LastTwentyInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Last twenty installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LauraMember"
      xlink:href="sblk-20151231.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-20151231.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_LegalSettlementsSharesAcquired"
      xlink:href="sblk-20151231.xsd#sblk_LegalSettlementsSharesAcquired" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LegalSettlementsSharesAcquired"
      xlink:to="sblk_LegalSettlementsSharesAcquired_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LegalSettlementsSharesAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of shares acquired in a non-cash or part non-cash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LegalSettlementsSharesAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal Settlements Shares Acquired</label>
    <label xlink:type="resource"
      xlink:label="sblk_LegalSettlementsSharesAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares received</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeviathanAndPeloreusMember"
      xlink:href="sblk-20151231.xsd#sblk_LeviathanAndPeloreusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LeviathanAndPeloreusMember"
      xlink:to="sblk_LeviathanAndPeloreusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanAndPeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Leviathan And Peloreus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanAndPeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Leviathan and Peloreus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeviathanMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_LitigationSettlementPeriodicPayment"
      xlink:href="sblk-20151231.xsd#sblk_LitigationSettlementPeriodicPayment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LitigationSettlementPeriodicPayment"
      xlink:to="sblk_LitigationSettlementPeriodicPayment_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of the required periodic payments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Litigation Settlement Periodic Payment</label>
    <label xlink:type="resource"
      xlink:label="sblk_LitigationSettlementPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount per installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LossOffHire"
      xlink:href="sblk-20151231.xsd#sblk_LossOffHire" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LossOffHire" xlink:to="sblk_LossOffHire_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LossOffHire_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Revenue loss due to off hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LossOffHire_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loss Off Hire</label>
    <label xlink:type="resource"
      xlink:label="sblk_LossOffHire_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenue loss due to off hire</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LowlandsBeilunMember"
      xlink:href="sblk-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Despoina (ex Lowlands Beilun)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LubricantsExpense"
      xlink:href="sblk-20151231.xsd#sblk_LubricantsExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LubricantsExpense" xlink:to="sblk_LubricantsExpense_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cost of lubricants consumed during the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lubricants Expense</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lubricants</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LubricantsInventoryCurrent"
      xlink:href="sblk-20151231.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_MackenzieMember"
      xlink:href="sblk-20151231.xsd#sblk_MackenzieMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MackenzieMember" xlink:to="sblk_MackenzieMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MackenzieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Mackenzie [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MackenzieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mackenzie</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MadredeusAndAmamiMember"
      xlink:href="sblk-20151231.xsd#sblk_MadredeusAndAmamiMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MadredeusAndAmamiMember"
      xlink:to="sblk_MadredeusAndAmamiMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusAndAmamiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Madredeus And Amami [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusAndAmamiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Madredeus and Amami</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MadredeusIMember"
      xlink:href="sblk-20151231.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-20151231.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_MaharajMember"
      xlink:href="sblk-20151231.xsd#sblk_MaharajMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MaharajMember" xlink:to="sblk_MaharajMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MaharajMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Maharaj [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaharajMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maharaj</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MaidenVoyageIMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_MegalodonMember"
      xlink:href="sblk-20151231.xsd#sblk_MegalodonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MegalodonMember" xlink:to="sblk_MegalodonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MegalodonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Megalodon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MegalodonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Megalodon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MercurialVirgoIMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_MergerPappasTransactionSoceAdjustmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_MergerPappasTransactionSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MergerPappasTransactionSoceAdjustmentsMember"
      xlink:to="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Merger Pappas Transaction Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MinimumLiquidFundsMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_NetCashProceedsFromCertainAssetSalesMember"
      xlink:href="sblk-20151231.xsd#sblk_NetCashProceedsFromCertainAssetSalesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NetCashProceedsFromCertainAssetSalesMember"
      xlink:to="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Net Cash Proceeds From Certain Asset Sales [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NetCashProceedsFromCertainAssetSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net cash proceeds from certain asset sales</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
      xlink:href="sblk-20151231.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-20151231.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_NewServicesAgreementMember"
      xlink:href="sblk-20151231.xsd#sblk_NewServicesAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewServicesAgreementMember"
      xlink:to="sblk_NewServicesAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">New services agreement with related parties for chartering, brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Services Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">New Services Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewYangzijiangVesselsMember"
      xlink:href="sblk-20151231.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-20151231.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 or Lease Agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewcastlemaxVesselsMember"
      xlink:href="sblk-20151231.xsd#sblk_NewcastlemaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewcastlemaxVesselsMember"
      xlink:to="sblk_NewcastlemaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewcastlemaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Newcastlemax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewcastlemaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newcastlemax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NonExecutiveDirectorsCompensation"
      xlink:href="sblk-20151231.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/2009/role/negatedLabel">Compensation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NonExecutiveDirectorsMember"
      xlink:href="sblk-20151231.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_NumberOfDirectors"
      xlink:href="sblk-20151231.xsd#sblk_NumberOfDirectors" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfDirectors" xlink:to="sblk_NumberOfDirectors_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfDirectors_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of directors constituting the Board of Directors.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfDirectors_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Directors</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfDirectors_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfInstallments"
      xlink:href="sblk-20151231.xsd#sblk_NumberOfInstallments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfInstallments"
      xlink:to="sblk_NumberOfInstallments_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of payment installments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Installments</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfInstallments_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_NumberOfLoanTranches"
      xlink:href="sblk-20151231.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_NumberOfNewbuildingContractsTerminated"
      xlink:href="sblk-20151231.xsd#sblk_NumberOfNewbuildingContractsTerminated" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfNewbuildingContractsTerminated"
      xlink:to="sblk_NumberOfNewbuildingContractsTerminated_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of newbuilding contracts terminated.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Newbuilding Contracts Terminated</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContractsTerminated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of newbuilding contracts terminated</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfNewbuildingContracts"
      xlink:href="sblk-20151231.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_NumberOfVesselFinancedByDebtInstrument"
      xlink:href="sblk-20151231.xsd#sblk_NumberOfVesselFinancedByDebtInstrument" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfVesselFinancedByDebtInstrument"
      xlink:to="sblk_NumberOfVesselFinancedByDebtInstrument_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of vessels financed by the debt instrument.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Vessel Financed By Debt Instrument</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVesselFinancedByDebtInstrument_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels financed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfVessels"
      xlink:href="sblk-20151231.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_OaktreeMember"
      xlink:href="sblk-20151231.xsd#sblk_OaktreeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OaktreeMember" xlink:to="sblk_OaktreeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oaktree [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oaktree</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OaktreeShareholdersAgreementMember"
      xlink:href="sblk-20151231.xsd#sblk_OaktreeShareholdersAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OaktreeShareholdersAgreementMember"
      xlink:to="sblk_OaktreeShareholdersAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeShareholdersAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oaktree Shareholders Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OaktreeShareholdersAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shareholders Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ObelixIMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_OceanbulkMaritimeSoceAdjustmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_OceanbulkMaritimeSoceAdjustmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkMaritimeSoceAdjustmentsMember"
      xlink:to="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk Maritime Soce Adjustments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeSoceAdjustmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk Maritime (Note 3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkSellersMember"
      xlink:href="sblk-20151231.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</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OffHireDays"
      xlink:href="sblk-20151231.xsd#sblk_OffHireDays" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OffHireDays" xlink:to="sblk_OffHireDays_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OffHireDays_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The time during which the vessel is off-hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OffHireDays_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Off Hire Days</label>
    <label xlink:type="resource"
      xlink:label="sblk_OffHireDays_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Off hire days</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OfficeRentMember"
      xlink:href="sblk-20151231.xsd#sblk_OfficeRentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OfficeRentMember" xlink:to="sblk_OfficeRentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OfficeRentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Office Rent [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OfficeRentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Office rent</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember"
      xlink:href="sblk-20151231.xsd#sblk_OperatingVesselsSoldAndDeliveredMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OperatingVesselsSoldAndDeliveredMember"
      xlink:to="sblk_OperatingVesselsSoldAndDeliveredMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Vessels Sold And Delivered [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldAndDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating vessels sold and delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember"
      xlink:href="sblk-20151231.xsd#sblk_OperatingVesselsSoldButNotYetDeliveredMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OperatingVesselsSoldButNotYetDeliveredMember"
      xlink:to="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Vessels Sold But NotYet Delivered [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OperatingVesselsSoldButNotYetDeliveredMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating vessels sold but not yet delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract"
      xlink:href="sblk-20151231.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 income/(loss):</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherOperationalGainTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_OtherOperationalGainTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherOperationalGainTextBlock"
      xlink:to="sblk_OtherOperationalGainTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalGainTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for other operational gain.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalGainTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Operational Gain [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalGainTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other operational gain</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherOperationalLossTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_OtherOperationalLossTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherOperationalLossTextBlock"
      xlink:to="sblk_OtherOperationalLossTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalLossTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for other operational loss.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalLossTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Operational Loss [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherOperationalLossTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other operational loss</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherVesselAcquisitionCosts"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Merger &amp; Pappas Transaction (Note 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock"
      xlink:to="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for administrative personnel pension plans of the Company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pension Retirement Benefit Obligations Administrative Personnel [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pension indemnities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred"
      xlink:href="sblk-20151231.xsd#sblk_PercentOfQuarterlyInstallmentsDeferred" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PercentOfQuarterlyInstallmentsDeferred"
      xlink:to="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Percent of quarterly installments deferred.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Percent Of Quarterly Installments Deferred</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentOfQuarterlyInstallmentsDeferred_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percent of quarterly installments deferred</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PercentageOfFutureProceedsSold"
      xlink:href="sblk-20151231.xsd#sblk_PercentageOfFutureProceedsSold" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PercentageOfFutureProceedsSold"
      xlink:to="sblk_PercentageOfFutureProceedsSold_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfFutureProceedsSold_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of future proceeds sold to a third party related to the settlement of certain of the commercial claims.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfFutureProceedsSold_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Future Proceeds Sold</label>
    <label xlink:type="resource"
      xlink:label="sblk_PercentageOfFutureProceedsSold_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of future proceeds sold</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount"
      xlink:href="sblk-20151231.xsd#sblk_PeriodicPaymentsDeferredAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PeriodicPaymentsDeferredAmount"
      xlink:to="sblk_PeriodicPaymentsDeferredAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of periodic payments deferred.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Periodic Payments Deferred, Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeriodicPaymentsDeferredAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Periodic payments, amount deferred</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PiraeusBankS.A.TermLoanBMember"
      xlink:href="sblk-20151231.xsd#sblk_PiraeusBankS.A.TermLoanBMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PiraeusBankS.A.TermLoanBMember"
      xlink:to="sblk_PiraeusBankS.A.TermLoanBMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanBMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Piraeus Bank S.A. Term Loan B [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanBMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Piraeus Bank S.A. Term Loan B</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PiraeusBankS.A.TermLoanMember"
      xlink:href="sblk-20151231.xsd#sblk_PiraeusBankS.A.TermLoanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PiraeusBankS.A.TermLoanMember"
      xlink:to="sblk_PiraeusBankS.A.TermLoanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Piraeus Bank S.A. Term Loan A [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Piraeus Bank S.A. Term Loan A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PiraeusBankS.A.TermLoansMember"
      xlink:href="sblk-20151231.xsd#sblk_PiraeusBankS.A.TermLoansMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PiraeusBankS.A.TermLoansMember"
      xlink:to="sblk_PiraeusBankS.A.TermLoansMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoansMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Piraeus Bank S.A. Term Loans [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PiraeusBankS.A.TermLoansMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Piraeus Bank S.A. Term Loans</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PoolAgreementMember"
      xlink:href="sblk-20151231.xsd#sblk_PoolAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PoolAgreementMember"
      xlink:to="sblk_PoolAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PoolAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pool Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PoolAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pool agreement ("CCL")</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PortCharges"
      xlink:href="sblk-20151231.xsd#sblk_PortCharges" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PortCharges" xlink:to="sblk_PortCharges_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PortCharges_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amounts charged by port authorities for the use of infrastructure.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PortCharges_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Port Charges</label>
    <label xlink:type="resource"
      xlink:label="sblk_PortCharges_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Port charges</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
      xlink:href="sblk-20151231.xsd#sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember"
      xlink:to="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Possibility Of Sale Of Operating Vessels And Newbuildings [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Possibility of a sale of certain additional operating vessels and newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction"
      xlink:href="sblk-20151231.xsd#sblk_ProceedsFromCancellationOfVesselsUnderConstruction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProceedsFromCancellationOfVesselsUnderConstruction"
      xlink:to="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cash inflow associated with the reassignment of the leases for newbuilding vessels back to the vessels' owner.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Cancellation Of Vessels Under Construction</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsFromCancellationOfVesselsUnderConstruction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from cancellation of vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim"
      xlink:href="sblk-20151231.xsd#sblk_ProceedsReceivedOnTransferClaim" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProceedsReceivedOnTransferClaim"
      xlink:to="sblk_ProceedsReceivedOnTransferClaim_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Proceeds received on transfer of claim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds Received On Transfer Claim</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProceedsReceivedOnTransferClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds received on transfer of claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProcurementServicesDailyFee"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_RebateAmount"
      xlink:href="sblk-20151231.xsd#sblk_RebateAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RebateAmount" xlink:to="sblk_RebateAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RebateAmount_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of rebate.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RebateAmount_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rebate Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_RebateAmount_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rebate from previous manning agent</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RebateFromPreviousManningAgentMember"
      xlink:href="sblk-20151231.xsd#sblk_RebateFromPreviousManningAgentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RebateFromPreviousManningAgentMember"
      xlink:to="sblk_RebateFromPreviousManningAgentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RebateFromPreviousManningAgentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rebate From Previous Manning Agent [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RebateFromPreviousManningAgentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rebate from Company's previous manning agent</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReceivableConvertibleConversionRatio"
      xlink:href="sblk-20151231.xsd#sblk_ReceivableConvertibleConversionRatio" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReceivableConvertibleConversionRatio"
      xlink:to="sblk_ReceivableConvertibleConversionRatio_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Ratio applied to the conversion of receivable into equity with equity shares divided by the receivable amount in KRW.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivable Convertible Conversion Ratio</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivableConvertibleConversionRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conversion ratio</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash"
      xlink:href="sblk-20151231.xsd#sblk_ReceivablePercentageOfAmountPaidInCash" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReceivablePercentageOfAmountPaidInCash"
      xlink:to="sblk_ReceivablePercentageOfAmountPaidInCash_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The percentage of receivable amount paid in cash  in a part noncash transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivable Percentage Of Amount Paid In Cash</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReceivablePercentageOfAmountPaidInCash_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of amount paid in cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember"
      xlink:href="sblk-20151231.xsd#sblk_ReclassificationAdjustmentDueToSCRShortfallMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReclassificationAdjustmentDueToSCRShortfallMember"
      xlink:to="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Reclassification Adjustment Due To SCR Shortfall [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReclassificationAdjustmentDueToSCRShortfallMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reclassification adjustment due to SCR shortfall</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RehabilitationPlanMember"
      xlink:href="sblk-20151231.xsd#sblk_RehabilitationPlanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RehabilitationPlanMember"
      xlink:to="sblk_RehabilitationPlanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RehabilitationPlanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rehabilitation Plan [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RehabilitationPlanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Korea Line Corporation, Rehabilitation plan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember"
      xlink:href="sblk-20151231.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-20151231.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/2009/role/negatedLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RenascentiaMember"
      xlink:href="sblk-20151231.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_RenewalConsultancyAgreementsMember"
      xlink:href="sblk-20151231.xsd#sblk_RenewalConsultancyAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RenewalConsultancyAgreementsMember"
      xlink:to="sblk_RenewalConsultancyAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Renewal consulting agreements with related parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Renewal Consultancy Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenewalConsultancyAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Renewal consultancy agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RentExpensePerMonth"
      xlink:href="sblk-20151231.xsd#sblk_RentExpensePerMonth" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RentExpensePerMonth"
      xlink:to="sblk_RentExpensePerMonth_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RentExpensePerMonth_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of monthly rent.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RentExpensePerMonth_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rent Expense Per Month</label>
    <label xlink:type="resource"
      xlink:label="sblk_RentExpensePerMonth_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rent expense per month</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock"
      xlink:to="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the results of operations for companies acquired, since the acquisition date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Results Of Operations For Companies Acquired [TableText Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Results Of Operations For Companies Acquired</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_RevenueExpenseRecognitionPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RevenueExpenseRecognitionPolicyTextBlock"
      xlink:to="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy regarding recognition of revenue and related expenses.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Revenue Expense Recognition [Policy Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RevenueExpenseRecognitionPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounting for revenue and related expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ReverseStockSplitMember"
      xlink:href="sblk-20151231.xsd#sblk_ReverseStockSplitMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ReverseStockSplitMember"
      xlink:to="sblk_ReverseStockSplitMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ReverseStockSplitMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Reverse Stock Split [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ReverseStockSplitMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reverse stock split</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RobertaMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_SaleLeasebackArrangementMember"
      xlink:href="sblk-20151231.xsd#sblk_SaleLeasebackArrangementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SaleLeasebackArrangementMember"
      xlink:to="sblk_SaleLeasebackArrangementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SaleLeasebackArrangementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Arrangement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleLeasebackArrangementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale Leaseback arrangement with CSSC</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SaleOfFutureClaimsProceeds"
      xlink:href="sblk-20151231.xsd#sblk_SaleOfFutureClaimsProceeds" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SaleOfFutureClaimsProceeds"
      xlink:to="sblk_SaleOfFutureClaimsProceeds_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount received from selling a percentage of interest in future proceeds, related to recovery of commercial claims.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleOfFutureClaimsProceeds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Of Future Claims Proceeds</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleOfFutureClaimsProceeds_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="sblk_SaleVesselsMember"
      xlink:href="sblk-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Pauline (ex Sandra)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_SecondPriorityMortgageMember"
      xlink:href="sblk-20151231.xsd#sblk_SecondPriorityMortgageMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SecondPriorityMortgageMember"
      xlink:to="sblk_SecondPriorityMortgageMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SecondPriorityMortgageMember_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_SecondPriorityMortgageMember_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_SerenityIMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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_ServicesAgreementMember"
      xlink:href="sblk-20151231.xsd#sblk_ServicesAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementMember"
      xlink:to="sblk_ServicesAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Services agreement with related parties for chartering, brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Services Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
      xlink:href="sblk-20151231.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-20151231.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_SettlementAgreementWithIshharOverseasFZEMember"
      xlink:href="sblk-20151231.xsd#sblk_SettlementAgreementWithIshharOverseasFZEMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SettlementAgreementWithIshharOverseasFZEMember"
      xlink:to="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Settlement Agreement With Ishhar Overseas FZE [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SettlementAgreementWithIshharOverseasFZEMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement agreement with Ishhar</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"
      xlink:href="sblk-20151231.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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"
      xlink:href="sblk-20151231.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Date which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in CCYY-MM-DD format.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By ShareBased Payment Award Award Vesting Date</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vesting date</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
      xlink:href="sblk-20151231.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">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Grant Date Fair Value</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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_ShipbuildingContractsTerminationMember"
      xlink:href="sblk-20151231.xsd#sblk_ShipbuildingContractsTerminationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShipbuildingContractsTerminationMember"
      xlink:to="sblk_ShipbuildingContractsTerminationMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShipbuildingContractsTerminationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Shipbuilding Contracts Termination [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShipbuildingContractsTerminationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shipbuilding contracts termination</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SignificantCharterersMember"
      xlink:href="sblk-20151231.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-20151231.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_SpanishPortAuthoritiesFinesMember"
      xlink:href="sblk-20151231.xsd#sblk_SpanishPortAuthoritiesFinesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SpanishPortAuthoritiesFinesMember"
      xlink:to="sblk_SpanishPortAuthoritiesFinesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SpanishPortAuthoritiesFinesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Spanish Port Authorities Fines [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SpanishPortAuthoritiesFinesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Spanish port authorities environmental fines</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAlineMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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_StarAntaresMember"
      xlink:href="sblk-20151231.xsd#sblk_StarAntaresMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAntaresMember" xlink:to="sblk_StarAntaresMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAntaresMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Antares [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAntaresMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Antares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAquariusMember"
      xlink:href="sblk-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Aquarius</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAriesMember"
      xlink:href="sblk-20151231.xsd#sblk_StarAriesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAriesMember" xlink:to="sblk_StarAriesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAriesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aries [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAriesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aries</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAuroraMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember"
      xlink:href="sblk-20151231.xsd#sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember"
      xlink:to="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Bulk Carriers Corporation And Bocimar International NV And Golden Ocean Group Limited And C Transport Holding Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBulkCarriersCorporationAndBocimarInternationalNVAndGoldenOceanGroupLimitedAndCTransportHoldingLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Bulk Carriers Corp., Bocimar International NV, Golden Ocean Group Limited and C Transport Holding Ltd</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChallenger1Member"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_StarGammaAndStarCosmoMember"
      xlink:href="sblk-20151231.xsd#sblk_StarGammaAndStarCosmoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGammaAndStarCosmoMember"
      xlink:to="sblk_StarGammaAndStarCosmoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaAndStarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Gamma And Star Cosmo [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaAndStarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Gamma and Star Cosmo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGammaMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_StarLutasMember"
      xlink:href="sblk-20151231.xsd#sblk_StarLutasMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarLutasMember" xlink:to="sblk_StarLutasMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarLutasMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Lutas [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLutasMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Lutas</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMariaMember"
      xlink:href="sblk-20151231.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-20151231.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_StarMarisaMember"
      xlink:href="sblk-20151231.xsd#sblk_StarMarisaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMarisaMember" xlink:to="sblk_StarMarisaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMarisaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Marisa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarisaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Marisa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMarkelaMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Pisces</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarPolarisMember"
      xlink:href="sblk-20151231.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_StarPoseidonMember"
      xlink:href="sblk-20151231.xsd#sblk_StarPoseidonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarPoseidonMember" xlink:to="sblk_StarPoseidonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarPoseidonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Poseidon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPoseidonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Poseidon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarReneeMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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"
      xlink:href="sblk-20151231.xsd#sblk_StarbulkSaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarbulkSaMember" xlink:to="sblk_StarbulkSaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkSaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Starbulk Sa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkSaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Starbulk S.A.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Excel Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Excel Transactions (Note 1), shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl" />
    <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"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Interchart Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_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 Excel transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      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"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl" />
    <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"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_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 acquisition of 33% of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      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"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction"
      xlink:href="sblk-20151231.xsd#sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction"
      xlink:to="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_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 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"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice"
      xlink:href="sblk-20151231.xsd#sblk_StockRepurchaseProgramMaximumSharePrice" />
    <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"
      xlink:label="sblk_StockholdersEquityReverseStockSplitRatio"
      xlink:href="sblk-20151231.xsd#sblk_StockholdersEquityReverseStockSplitRatio" />
    <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"
      xml:lang="en-US"
      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"
      xlink:href="sblk-20151231.xsd#sblk_StrangeAttractorIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StrangeAttractorIMember"
      xlink:to="sblk_StrangeAttractorIMember_lbl" />
    <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"
      xml:lang="en-US"
      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"
      xlink:label="sblk_SupervisionCosts"
      xlink:href="sblk-20151231.xsd#sblk_SupervisionCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SupervisionCosts" xlink:to="sblk_SupervisionCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SupervisionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents supervision costs for newbuilding vessels paid on behalf of a related party.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SupervisionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Supervision Costs</label>
    <label xlink:type="resource"
      xlink:label="sblk_SupervisionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Supervision costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TerminationAgreementMember"
      xlink:href="sblk-20151231.xsd#sblk_TerminationAgreementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TerminationAgreementMember"
      xlink:to="sblk_TerminationAgreementMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TerminationAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreement to terminate the prior consultancy agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TerminationAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Termination Agreement [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TerminationAgreementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreement to terminate the consultancy agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ThirdInstallmentMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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"
      xlink:href="sblk-20151231.xsd#sblk_TotalContractualPurchaseObligation" />
    <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"
      xlink:href="sblk-20151231.xsd#sblk_TotalMember" />
    <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_Tranche1FirstFourInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_Tranche1FirstFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1FirstFourInstallmentsMember"
      xlink:to="sblk_Tranche1FirstFourInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche A First Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1FirstFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - First four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember"
      xlink:href="sblk-20151231.xsd#sblk_Tranche1InstallmentFiveToEighteenMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1InstallmentFiveToEighteenMember"
      xlink:to="sblk_Tranche1InstallmentFiveToEighteenMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 Installment Five To Eighteen [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentFiveToEighteenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - Installment five to seventeen</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember"
      xlink:href="sblk-20151231.xsd#sblk_Tranche1InstallmentsFiveToSeventeenMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1InstallmentsFiveToSeventeenMember"
      xlink:to="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 Installments Five To Seventeen [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1InstallmentsFiveToSeventeenMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - 5th Installment to 17th</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1LastElevenInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_Tranche1LastElevenInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1LastElevenInstallmentsMember"
      xlink:to="sblk_Tranche1LastElevenInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1LastElevenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 Last Eleven Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1LastElevenInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A - Last eleven installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1Member"
      xlink:href="sblk-20151231.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_Tranche2FirstFourInstallmentMember"
      xlink:href="sblk-20151231.xsd#sblk_Tranche2FirstFourInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche2FirstFourInstallmentMember"
      xlink:to="sblk_Tranche2FirstFourInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2FirstFourInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 2 First Four Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2FirstFourInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche B - First four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember"
      xlink:href="sblk-20151231.xsd#sblk_Tranche2LastTwentyFourInstallmentsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche2LastTwentyFourInstallmentsMember"
      xlink:to="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 2 Last Twenty Four Installments [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2LastTwentyFourInstallmentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche B - Last twenty four installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche2Member"
      xlink:href="sblk-20151231.xsd#sblk_Tranche2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche2Member" xlink:to="sblk_Tranche2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche B</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche3Member"
      xlink:href="sblk-20151231.xsd#sblk_Tranche3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche3Member" xlink:to="sblk_Tranche3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche C</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TrancheDMember"
      xlink:href="sblk-20151231.xsd#sblk_TrancheDMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TrancheDMember" xlink:to="sblk_TrancheDMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TrancheDMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche D [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TrancheDMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche D</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TsuEbisuMember"
      xlink:href="sblk-20151231.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"
      xlink:href="sblk-20151231.xsd#sblk_TwentyFourNewbuildingVesselsMember" />
    <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-20151231.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_TwoDirectorsMember"
      xlink:href="sblk-20151231.xsd#sblk_TwoDirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TwoDirectorsMember" xlink:to="sblk_TwoDirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TwoDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Two Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Two directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UltramaxVesselsMember"
      xlink:href="sblk-20151231.xsd#sblk_UltramaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UltramaxVesselsMember"
      xlink:to="sblk_UltramaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UltramaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Ultramax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_UltramaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ultramax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UnrealizedMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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-20151231.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_VesselsAndAdvancesForVesselsUnderConstructionNet"
      xlink:href="sblk-20151231.xsd#sblk_VesselsAndAdvancesForVesselsUnderConstructionNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet"
      xlink:to="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreegate amount after accumulated depreciation of operating vessels and advances for newbuilding vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels And Advances For Vessels Under Construction Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndAdvancesForVesselsUnderConstructionNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating and newbuilding vessels, net</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet"
      xlink:href="sblk-20151231.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-20151231.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>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock"
      xlink:href="sblk-20151231.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_VesselsInOperationIIMember"
      xlink:href="sblk-20151231.xsd#sblk_VesselsInOperationIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsInOperationIIMember"
      xlink:to="sblk_VesselsInOperationIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels In Operation II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels in operation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsInOperationsMember"
      xlink:href="sblk-20151231.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 operation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsNetMember"
      xlink:href="sblk-20151231.xsd#sblk_VesselsNetMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsNetMember" xlink:to="sblk_VesselsNetMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Net [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels, net</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsNet"
      xlink:href="sblk-20151231.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">Vessels' net book value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSalesAgreementsMember"
      xlink:href="sblk-20151231.xsd#sblk_VesselsSalesAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSalesAgreementsMember"
      xlink:to="sblk_VesselsSalesAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Sales Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels sales agreements in 2015 and 2016</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSalesMember"
      xlink:href="sblk-20151231.xsd#sblk_VesselsSalesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSalesMember" xlink:to="sblk_VesselsSalesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Sales [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalesMember_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_VesselsSalvageValuePerLightWeightTon"
      xlink:href="sblk-20151231.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_VesselsSold"
      xlink:href="sblk-20151231.xsd#sblk_VesselsSold" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSold" xlink:to="sblk_VesselsSold_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSold_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of vessels sold.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSold_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Sold</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSold_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels sold</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsUnderConstructionMember"
      xlink:href="sblk-20151231.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-20151231.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-20151231.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 (Note 18)</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-20151231.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"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage Revenues</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage revenues</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Revenue loss due to engine failure</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock"
      xlink:href="sblk-20151231.xsd#sblk_VoyageVesselOperatingExpensesTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageVesselOperatingExpensesTextBlock"
      xlink:to="sblk_VoyageVesselOperatingExpensesTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl"
      xml:lang="en-US"
      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>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage And Vessel Operating Expenses [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageVesselOperatingExpensesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage and Vessel operating expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_WolverineMember"
      xlink:href="sblk-20151231.xsd#sblk_WolverineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_WolverineMember" xlink:to="sblk_WolverineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_WolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Wolverine.</label>
    <label xlink:type="resource"
      xlink:label="sblk_WolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Wolverine [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_WolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Wolverine</label>
    <loc xlink:type="locator"
      xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
      xlink:href="sblk-20151231.xsd#sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
      xlink:to="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Write Off Of Unamortized Fair Value Of Below Market Acquired Time Charter On Vessel Redelivery</label>
    <label xlink:type="resource"
      xlink:label="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Gain on time charter agreement termination</label>
    <loc xlink:type="locator"
      xlink:label="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
      xlink:href="sblk-20151231.xsd#sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
      xlink:to="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The write off of unamortized time charter termination deferred revenue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue_lbl"
      xml:lang="en-US"
      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"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountingPoliciesAbstract"
      xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountingPoliciesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Significant Accounting policies [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"
      xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accounts Payable And Accrued Liabilities Disclosure [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsPayableTradeCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableTradeCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsPayableTradeCurrent"
      xlink:to="us-gaap_AccountsPayableTradeCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsPayableTradeCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accounts payable, current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsPayableTradeCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounts payable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsReceivableGrossCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsReceivableGrossCurrent"
      xlink:to="us-gaap_AccountsReceivableGrossCurrent_lbl" />
    <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"
      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_AccountsReceivableNetCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsReceivableNetCurrent"
      xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl" />
    <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, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsReceivableNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsReceivableNet"
      xlink:to="us-gaap_AccountsReceivableNet_lbl" />
    <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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract"
      xlink:to="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract_lbl" />
    <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"
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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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      xlink:from="us-gaap_CapitalLeaseObligationsNoncurrent"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Lease Obligations Noncurrent</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Lease commitments - non-current portion</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeaseObligations"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeaseObligations" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeaseObligations"
      xlink:to="us-gaap_CapitalLeaseObligations_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeaseObligations_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Lease Obligations</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeaseObligations_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Long term debt</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasedAssetsNumberOfUnits"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasedAssetsNumberOfUnits" />
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital leased assets, Number of vessels</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:to="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital leased assets, Net book value</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Years</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" />
    <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_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2016</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2016</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due In Five Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2020</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2020</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2019</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling after Year Five</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2021 and thereafter</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl"
      xml:lang="en-US"
      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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling Year Five</label>
    <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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2020</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2019</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree" />
    <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"
      xml:lang="en-US"
      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"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2018</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling Year Two</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2017</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capita Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2018</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capita lLeases Future Minimum Payments Due In Two Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2017</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Twelve month periods ending</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter"
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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_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due Thereafter</label>
    <label xlink:type="resource"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">2021 and thereafter</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDue"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total capital lease minimum payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Interest Included In Payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excluding bareboat interest</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Date of First Required Payment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of first required payment</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/terseLabel">Face amount</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Frequency of Periodic Payment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Frequency of payments</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Interest Rate, Increase (Decrease)</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate, Margin increase</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Interest Rate, Stated Percentage</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Issuance Date</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance date</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 debt [Line Items]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Maturity Date</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity date</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loan repayment terms</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid</label>
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Balloon installment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redemption description</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption, Period [Axis]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument, Redemption, Period [Domain]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Period One, From issuance until November 15, 2016</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">At any time, From issuance until maturity</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Period Two, On or after November 15, 2016 until maturity</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redemption price percentage</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt [Table]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment period</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unused credit facilities, commitment fee</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">Debt Policy Text Block</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financing costs</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Decrease In Restricted Cash</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease in restricted cash</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Decrease in restricted cash</label>
    <loc xlink:type="locator"
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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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      xlink:role="http://www.xbrl.org/2003/role/label">Deferred Costs</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital expenditures deferred</label>
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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">Deferred finance charges, net</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">Deferred revenue, current</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred revenue</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Deferred revenue, non-current</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred revenue</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Depreciable Assets [Member]</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">Depreciation (Note 6)</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Depreciation</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">Derivative asset, Notional amount</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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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Derivative Assets Noncurrent</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative asset (Note 19)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssetsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
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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">Derivative Assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DerivativeAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative asset (Note 19)</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">Derivative [Axis]</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">Variable rate basis</label>
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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">Fixed rate, per annum</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative Higher Fixed Interest Rate Range</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative higher fixed interest rate range</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Derivative, Inception Date</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inception date</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unrealized gain from hedging interest rate swaps, net</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities</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 (Note 3)</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to related parties</label>
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    <label xlink:type="resource"
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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"
      xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Basic [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl"
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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"
      xml:lang="en-US"
      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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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Basic And Diluted</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings / (Loss) per share, basic and diluted (Note 11)</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl"
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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"
      xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings per Share</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Earnings / (loss) per share</label>
    <loc xlink:type="locator"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Basic earnings per share</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasic_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Earnings/(loss) per share, basic (Note 14)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasic_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic earnings / (loss) per share</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasic_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Basic (loss) / earnings per share</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_EarningsPerShareDilutedAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Diluted [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareDilutedAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of dilutive securities:</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/positiveLabel">Diluted (loss) / earnings per share</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Earnings/(loss) per share, diluted (Note 14)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Diluted earnings / (loss) per share</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Diluted (loss) / earnings per share</label>
    <loc xlink:type="locator"
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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">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 share</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">Earnings per Share [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 Share:</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unrealized losses from cash flow hedges:</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">Total unrecognised compensation cost relating to restricted share awards</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">Accounting for leases</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/terseLabel">Legal matters</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Current Liabilities</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_LiabilitiesNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total Non - Current Liablilities</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LiabilitiesNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Non - Current Liablilities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_Liabilities"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_Liabilities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">TOTAL LIABILITIES</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Liabilities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">TOTAL LIABILITIES</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Liabilities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Total liabilities acquired</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityAbstract"
      xlink:to="us-gaap_LineOfCreditFacilityAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityAxis"
      xlink:to="us-gaap_LineOfCreditFacilityAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lender Name [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCollateral"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCollateral" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityCollateral"
      xlink:to="us-gaap_LineOfCreditFacilityCollateral_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCollateral_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Collateral</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCollateral_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels provided as collateral</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityCommitmentFeePercentage"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Commitment Fee Percentage</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCommitmentFeePercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitment fee percentage</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantCompliance"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantCompliance" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityCovenantCompliance"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantCompliance_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Covenant Compliance</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantTerms"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantTerms" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityCovenantTerms"
      xlink:to="us-gaap_LineOfCreditFacilityCovenantTerms_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantTerms_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Covenant Terms</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Date of First Required Payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date of first required payment</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityDescription"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityDescription" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityDescription"
      xlink:to="us-gaap_LineOfCreditFacilityDescription_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDescription_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Description</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDescription_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restructuring agreement description</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityDividendRestrictions"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityDividendRestrictions" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityDividendRestrictions"
      xlink:to="us-gaap_LineOfCreditFacilityDividendRestrictions_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityDividendRestrictions_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Dividend Restrictions</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityExpirationDate1" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityExpirationDate1"
      xlink:to="us-gaap_LineOfCreditFacilityExpirationDate1_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Expiration Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityExpirationDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expiration date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms"
      xlink:to="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Frequency of Payment and Payment Terms</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Frequency of payments and payment terms</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityFrequencyOfPayments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityFrequencyOfPayments"
      xlink:to="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Frequency Of Payments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityFrequencyOfPayments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Frequency of payments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings"
      xlink:to="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Increase, Additional Borrowings</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityIncreaseAdditionalBorrowings_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_LineOfCreditFacilityInitiationDate1"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityInitiationDate1"
      xlink:to="us-gaap_LineOfCreditFacilityInitiationDate1_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility, Initiation Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityInitiationDate1_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Initiation date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityLenderDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityLenderDomain"
      xlink:to="us-gaap_LineOfCreditFacilityLenderDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Lender [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityLineItems"
      xlink:to="us-gaap_LineOfCreditFacilityLineItems_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit Facility [Line Items]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"
      xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Maximum Borrowing Capacity</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum borrowing capacity</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityPeriodicPayment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditFacilityPeriodicPayment"
      xlink:to="us-gaap_LineOfCreditFacilityPeriodicPayment_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Periodic Payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditFacilityPeriodicPayment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment installment</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LineOfCreditMember"
      xlink:to="us-gaap_LineOfCreditMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line of Credit [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LineOfCreditMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Line of Credit</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LitigationSettlementAmount"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationSettlementAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LitigationSettlementAmount"
      xlink:to="us-gaap_LitigationSettlementAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LitigationSettlementAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Litigation Settlement, Amount</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LitigationSettlementAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement agreement, amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LitigationStatusAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationStatusAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LitigationStatusAxis"
      xlink:to="us-gaap_LitigationStatusAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LitigationStatusAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Litigation Status [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LitigationStatusDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationStatusDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LitigationStatusDomain"
      xlink:to="us-gaap_LitigationStatusDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LitigationStatusDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Litigation Status [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LoansAndLeasesReceivableOther"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansAndLeasesReceivableOther" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LoansAndLeasesReceivableOther"
      xlink:to="us-gaap_LoansAndLeasesReceivableOther_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LoansAndLeasesReceivableOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Loans And Leases Receivable Other</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LoansAndLeasesReceivableOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan receivable outstanding amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LoansPayableToBankCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansPayableToBankCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LoansPayableToBankCurrent"
      xlink:to="us-gaap_LoansPayableToBankCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_LoansPayableToBankCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Current portion of long term debt (Note 8)</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingencies [Table]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Expected Trial Commencement</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Lawsuit Filing Date</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Arbitration proceedings, filling date</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Loss in Period</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenue loss due to engine failure</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Name of Defendant</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Name of defendant</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Range of Possible Loss, Maximum</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fines subject to adjudication</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">Loss Contingency, Range of Possible Loss, Minimum</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMinimum_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Irrevocably adjudicated fines</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossContingencySettlementAgreementDate"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss Contingency, Settlement Agreement, Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LossContingencySettlementAgreementDate_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement agreement date</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">Loss on time charter agreement termination (Note 7)</label>
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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">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_MajorCustomersAxis"
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    <label xlink:type="resource"
      xlink:label="us-gaap_MajorCustomersAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Customer [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain"
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    <labelArc xlink:type="arc"
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      xlink:role="http://www.xbrl.org/2003/role/label">Major Types Of Debt Securities [Domain]</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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      xlink:role="http://www.xbrl.org/2003/role/label">Malpractice Insurance, Maximum Coverage Per Incident</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Coverage for pollution</label>
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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">Management Fee Payable</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to managers</label>
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Management fee income</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">Management and Directors Fees [Member]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-executive directors</label>
    <label xlink:type="resource"
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      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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    <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>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Minimum [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">TMT and affiliates ownership percentage</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/totalLabel">Net cash provided by/(used in) Operating 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">Income:</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Income/(Loss):</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">Basic Loss per share:</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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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Net (loss) / income</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NetIncomeLoss_lbl"
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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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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net income/(loss)</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net income/(loss):</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">New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Basic Earnings Per Share</label>
    <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>
    <loc xlink:type="locator"
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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">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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    <loc xlink:type="locator"
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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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    <loc xlink:type="locator"
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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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      xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Related Parties Current And Non current</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Notes Payable Related Parties Noncurrent</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NotesPayableRelatedPartiesNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility from related parties, non current portion (Note 3 &amp; Note 8)</label>
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      xlink:label="us-gaap_NotesPayableRelatedPartiesNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility - non- current portion</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_NumberOfInterestRateDerivativesHeld"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Interest Rate Derivatives Held</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_NumberOfInterestRateDerivativesHeld_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of interest rate derivatives held by the Company</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OfficersCompensation"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OfficersCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Executive directors consultancy fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingCostsAndExpenses"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingCostsAndExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingCostsAndExpenses"
      xlink:to="us-gaap_OperatingCostsAndExpenses_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingCostsAndExpenses_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Operating Costs And Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingCostsAndExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses (Note 18)</label>
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      xlink:label="us-gaap_OperatingCostsAndExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total vessel operating expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingExpensesAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpensesAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingExpensesAbstract"
      xlink:to="us-gaap_OperatingExpensesAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
      xml:lang="en-US"
      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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingExpenses"
      xlink:to="us-gaap_OperatingExpenses_lbl" />
    <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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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">2016</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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">2020</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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">Operating Leases Future Minimum Payments Due In Four Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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">2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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">2021 and thereafter</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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"
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    <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"
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    <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"
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Commitments [Table]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Other non-current liabilities</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">OtherNoncashIncomeExpense</label>
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Other non-cash charges</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Noncash Income</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Total other income/(expense), net</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total other expenses, net</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Due from managers</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Significant Noncash Transaction Value Of Consideration Given1</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments for Construction in Process</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-delivery installments</label>
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      xlink:label="us-gaap_PaymentsForPostemploymentBenefits"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsForPostemploymentBenefits_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Severance payment, cash</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Repurchase of common shares</label>
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      xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Repurchase and cancellation of common shares, value (Note 10)</label>
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      xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Repurchase of common shares</label>
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      xlink:label="us-gaap_PaymentsForRepurchaseOfEquityAbstract"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsForRepurchaseOfEquityAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments For Repurchase Of Equity [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsForRepurchaseOfEquityAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share Re-purchase plan</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments Of Debt Restructuring Costs</label>
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      xlink:label="us-gaap_PaymentsOfDebtRestructuringCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Processing fee</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_PaymentsOfDividendsCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">PaymentsOfDividendsCommonStock</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Cash dividend</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsOfFinancingCosts"
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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">PaymentsOfFinancingCosts</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsOfFinancingCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Financing fees paid</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsOfStockIssuanceCosts"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Offering expenses paid</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Offering expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Offering expenses paid related to the issuance of common stock</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PaymentsToAcquireAssetsInvestingActivities"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Assets Investing Activities</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for Secondhand vessels</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Advances for Secondhand vessels</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PaymentsToAcquireBusinessesGross"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel">Cash payment for acquisition of vessels</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Businesses Gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payment to acquire business</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireBusinessesGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expected payment upon the distribution of vessels</label>
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      xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments to Acquire Equipment on Lease</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireEquipmentOnLease_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments to acquire equipment on lease</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Intangible Assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments to acquire intangible assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Cash paid for above market acquired time charters</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PaymentsToAcquireLongtermInvestments"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">PaymentsToAcquireLongtermInvestments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquireLongtermInvestments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Long term investment (Note 3)</label>
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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">Payments To Acquire Productive Assets [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newbuildings</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_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Delivery installment payment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments to acquire property plant and equipment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-delivery installments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Pre-delivery Yard installments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Advances for vessels acquisitions and vessels under construction</label>
    <label xlink:type="resource"
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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</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Pending Litigation [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">Pension And Other Postretirement Plans Nonpension Benefits Policy</label>
    <label xlink:type="resource"
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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">Pension And Other Postretirement Plans Pensions Policy</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PensionAndOtherPostretirementPlansPensionsPolicy_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pension and retirement benefit obligations?administrative personnel</label>
    <loc xlink:type="locator"
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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">Percentage of Debt Hedged by Interest Rate Derivatives</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PercentageOfDebtHedgedByInterestRateDerivatives_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of debt hedged by interest rate swap agreement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PlanNameAxis"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PlanNameAxis_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan [Axis]</label>
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      xlink:label="us-gaap_PlanNameDomain"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan [Domain]</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">Positive Outcome of Litigation [Member]</label>
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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">Preferred Stock [Member]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Stock</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 Stock Disclosures [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Stock:</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">Preferred Stock - Par Value</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">Preferred Stock - Shares Authorized</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PreferredStockSharesIssued"
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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">Preferred Stock - Shares Issued</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">Preferred Stock - Shares Outstanding</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">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"
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      xlink:role="http://www.xbrl.org/2003/role/label">Prepaid expenses and other receivables</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepaid expenses and other advances</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_PrepaidExpenseCurrentAndNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Prepaid Expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling 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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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Private Placement [Member]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Private Placement</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Pro Forma [Member]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pro forma adjustments</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">Proceeds from bank loans</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/terseLabel">Hull and Machinery Insurance proceeds</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">Proceeds From Issuance Initial Public Offering</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from initial public offering</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from issuance of common stock</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of common stock</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Of Debt</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from bank loans and 8.00% 2019 Notes</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of notes</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Issuance of Senior Long-term Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net proceeds from issuance of debt</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromLegalSettlements"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromLegalSettlements" />
    <labelArc xlink:type="arc"
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      xlink:to="us-gaap_ProceedsFromLegalSettlements_lbl" />
    <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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" />
    <labelArc xlink:type="arc"
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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_ProceedsFromLongTermCapitalLeaseObligations"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromLongTermCapitalLeaseObligations" />
    <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_ProceedsFromLongTermCapitalLeaseObligations_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Long-term Capital Lease Obligations</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities"
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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_ProceedsFromPaymentsForTradingSecurities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from (Payments for) Trading Securities, Short-term</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromPaymentsForTradingSecurities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from sale of trading securities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromSaleOfOtherReceivables" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Sale of Other Receivables</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfOtherReceivables_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from sale of settled claim</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfessionalAndContractServicesExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProfessionalAndContractServicesExpense"
      xlink:to="us-gaap_ProfessionalAndContractServicesExpense_lbl" />
    <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 12)</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 fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Management fee expense</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfessionalFees"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProfitLoss" xlink:to="us-gaap_ProfitLoss_lbl" />
    <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"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract_lbl"
      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"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAdditions" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PropertyPlantAndEquipmentAdditions"
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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"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl"
      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"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDepreciationMethods" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_PropertyPlantAndEquipmentDepreciationMethods"
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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"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" />
    <labelArc xlink:type="arc"
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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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    <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_PropertyPlantAndEquipmentFairValueDisclosure"
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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">Property, Plant, and Equipment, Fair Value Disclosure</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Property, plant, and equipment, Fair value</label>
    <loc xlink:type="locator"
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    <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"
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    <labelArc xlink:type="arc"
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    <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"
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    <labelArc xlink:type="arc"
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    <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"
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      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"
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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">Property Plant And Equipment [Member]</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets</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">Property Plant And Equipment Net [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">FIXED ASSETS</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">Total fixed assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Fixed Assets</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">PropertyPlantAndEquipmentOther</label>
    <label xlink:type="resource"
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      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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits"
      xlink:to="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Subject to or Available for Operating Lease, Number of Units</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of time charters</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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">Provision For Doubtful Accounts</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Provision for doubtful receivables</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/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.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_ReceivablesFairValueDisclosure"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivablesFairValueDisclosure" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ReceivablesFairValueDisclosure"
      xlink:to="us-gaap_ReceivablesFairValueDisclosure_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesFairValueDisclosure_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivables, Fair Value Disclosure</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesFairValueDisclosure_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fiar value, Loan receivable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyCosts"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyCosts"
      xlink:to="us-gaap_RelatedPartyCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Costs</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyCosts_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="us-gaap_RelatedPartyCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyDomain"
      xlink:to="us-gaap_RelatedPartyDomain_lbl" />
    <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_RelatedPartyTransactionAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionAxis"
      xlink:to="us-gaap_RelatedPartyTransactionAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionDate"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionDate"
      xlink:to="us-gaap_RelatedPartyTransactionDate_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction, Date</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expiration date of agreement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionDomain"
      xlink:to="us-gaap_RelatedPartyTransactionDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction, Expenses from Transactions with Related Party</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Employment services fee</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"
      xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" />
    <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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"
      xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" />
    <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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfBankDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfBankDebt"
      xlink:to="us-gaap_RepaymentsOfBankDebt_lbl" />
    <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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfDebt"
      xlink:to="us-gaap_RepaymentsOfDebt_lbl" />
    <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/2003/role/terseLabel">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/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfLinesOfCredit"
      xlink:to="us-gaap_RepaymentsOfLinesOfCredit_lbl" />
    <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_RepaymentsOfLongTermLinesOfCredit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermLinesOfCredit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfLongTermLinesOfCredit"
      xlink:to="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Long-term Lines of Credit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLongTermLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayments of lines of credit</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepurchaseAgreementCounterpartyNameDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepurchaseAgreementCounterpartyNameDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepurchaseAgreementCounterpartyNameDomain"
      xlink:to="us-gaap_RepurchaseAgreementCounterpartyNameDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RepurchaseAgreementCounterpartyNameDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Counterparty Name [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" />
    <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">Restricted cash, current (Note 7 and Note 18)</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash, current (Note 8)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Restricted cash</label>
    <loc xlink:type="locator"
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      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" />
    <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">Cash and Cash Equivalents [Domain]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legally restricted</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" />
    <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_RestrictedCashAndCashEquivalentsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted cash , non-current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted cash, non-current (Note 8)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedStockMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedStockMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RestrictedStockMember"
      xlink:to="us-gaap_RestrictedStockMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedStockMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Restricted Stock [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RestrictedStockMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted common shares</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit"
      xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings Accumulated Deficit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated deficit</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RetainedEarningsMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RetainedEarningsMember"
      xlink:to="us-gaap_RetainedEarningsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated deficit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RetainedEarningsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Retained Earnings/(Accumulated Deficit)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RevenuesAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RevenuesAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RevenuesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Revenues [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RevenuesAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenues:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_Revenues"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Revenues" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage revenues</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total revenues</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalariesAndWages"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalariesAndWages" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SalariesAndWages"
      xlink:to="us-gaap_SalariesAndWages_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_SalariesAndWages_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Compensation</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalariesAndWages_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Crew wages and related costs</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Current Period Gain Recognized</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization of deferred gain</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Amortization of deferred gain (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDate"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDate" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_SaleLeasebackTransactionDate"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Date</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SaleLeasebackTransactionDeferredGainGross"
      xlink:to="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Deferred Gain, Gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale Leaseback Transaction, Deferred Gain</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SaleLeasebackTransactionDeferredGainNet"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDeferredGainNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Deferred Gain, Net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDescriptionAxis" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_SaleLeasebackTransactionDescriptionAxis"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Description [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionDescription"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDescription" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_SaleLeasebackTransactionDescription"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionDescription_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Description</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SaleLeasebackTransactionNameDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionNameDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SaleLeasebackTransactionNameDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SaleLeasebackTransactionNameDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Leaseback Transaction, Name [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalesCommissionsAndFees"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesCommissionsAndFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SalesCommissionsAndFees"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Commissions - third parties</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sales commissions and fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesCommissionsAndFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Voyage expenses-Interchart (a)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalesRevenueNetMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueNetMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SalesRevenueNetMember"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalesRevenueNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sales Revenue, Net [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalesRevenueNetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage revenues</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_SalvageValueMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalvageValueMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_SalvageValueMember"
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    <label xlink:type="resource"
      xlink:label="us-gaap_SalvageValueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Salvage Value [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_SalvageValueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Salvage Value</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScenarioUnspecifiedDomain"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ScenarioUnspecifiedDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Scenario Unspecified [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Accrued Liabilities [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of accrued liabilities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Business Acquisitions, by Acquisition [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfChangeInAccountingEstimateTable"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ScheduleOfChangeInAccountingEstimateTable"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfChangeInAccountingEstimateTable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Change in Accounting Estimate [Table]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ScheduleOfDebtTableTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfDebtTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ScheduleOfDebtTableTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Debt Table [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ScheduleOfDebtTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bank loans and notes</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
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    <loc xlink:type="locator"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child"
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      use="optional" />
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      use="optional" />
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    <loc xlink:type="locator"
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    <presentationArc xlink:type="arc"
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      preferredLabel="http://www.xbrl.org/2003/role/terseLabel"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <presentationArc xlink:type="arc"
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>R1.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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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6839665648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2015 </div>
<div>shares</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_DocumentAndEntityInformationAbstract', window );"><strong>Document And Entity 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_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr 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">Dec. 31,  2015<span></span>
</td>
</tr>
<tr 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_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr 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_EntityRegistrantName', window );">Enity Registrant Name</a></td>
<td class="text">Star Bulk Carriers Corp.<span></span>
</td>
</tr>
<tr 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_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001386716<span></span>
</td>
</tr>
<tr 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>
</td>
</tr>
<tr 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_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr 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_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr 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_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
</tr>
<tr 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_EntityWellKnownSeasonedIssuer', window );">Entity Well Known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr 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_EntityCommonStockSharesOutstanding', window );">Entity Common Stock Shares Outstanding</a></td>
<td class="nump">219,105,712<span></span>
</td>
</tr>
<tr 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_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2015<span></span>
</td>
</tr>
<tr 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_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr 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">SBLK<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</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:booleanItemType</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_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ 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_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</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_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</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:fiscalPeriodItemType</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_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ 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_DocumentFiscalYearFocus</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:gYearItemType</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_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ 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_DocumentPeriodEndDate</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_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</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:submissionTypeItemType</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_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> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<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> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<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>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R2.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6840623744">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 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">$ 208,056<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">3,769<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, net</a></td>
<td class="nump">10,889<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">14,247<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_DueFromRelatedPartiesCurrent', window );">Due from related parties (Note 3)</a></td>
<td class="nump">1,209<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_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">5,284<span></span>
</td>
<td class="nump">1,350<span></span>
</td>
</tr>
<tr class="ro">
<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">8,604<span></span>
</td>
<td class="nump">4,350<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_AssetsCurrent', window );">Total Current Assets</a></td>
<td class="nump">252,058<span></span>
</td>
<td class="nump">134,430<span></span>
</td>
</tr>
<tr class="ro">
<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="re">
<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">127,910<span></span>
</td>
<td class="nump">454,612<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_VesselsAndOtherFixedAssetsNet', window );">Vessels and other fixed assets, net (Note 5)</a></td>
<td class="nump">1,757,552<span></span>
</td>
<td class="nump">1,441,851<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_PropertyPlantAndEquipmentNet', window );">Total Fixed Assets</a></td>
<td class="nump">1,885,462<span></span>
</td>
<td class="nump">1,896,463<span></span>
</td>
</tr>
<tr class="ro">
<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="re">
<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">844<span></span>
</td>
<td class="nump">634<span></span>
</td>
</tr>
<tr class="ro">
<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">16,037<span></span>
</td>
<td class="nump">8,029<span></span>
</td>
</tr>
<tr class="re">
<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">10,228<span></span>
</td>
<td class="nump">10,620<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Fair value of above market acquired time charter (Note 7)</a></td>
<td class="nump">254<span></span>
</td>
<td class="nump">11,908<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_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">2,164,883<span></span>
</td>
<td class="nump">2,062,084<span></span>
</td>
</tr>
<tr class="ro">
<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="re">
<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">127,141<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_CapitalLeaseObligationsCurrent', window );">Lease commitments short term (Note 5)</a></td>
<td class="nump">4,490<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_NotesPayableRelatedPartiesClassifiedCurrent', window );">Excel Vessel Bridge Facility from related parties, current portion (Note 3 &amp; Note 8)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">8,168<span></span>
</td>
</tr>
<tr class="ro">
<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">9,436<span></span>
</td>
<td class="nump">18,487<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_AdvancePaymentForVesselDisposal', window );">Advances from sale of vessel (Note 5)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,100<span></span>
</td>
</tr>
<tr class="ro">
<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">422<span></span>
</td>
<td class="nump">2,166<span></span>
</td>
</tr>
<tr class="re">
<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">2,291<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_AccruedLiabilitiesCurrent', window );">Accrued liabilities (Note 15)</a></td>
<td class="nump">14,773<span></span>
</td>
<td class="nump">13,738<span></span>
</td>
</tr>
<tr class="re">
<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 19)</a></td>
<td class="nump">5,931<span></span>
</td>
<td class="nump">5,722<span></span>
</td>
</tr>
<tr class="ro">
<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">2,465<span></span>
</td>
<td class="nump">2,500<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_LiabilitiesCurrent', window );">Total Current Liabilities</a></td>
<td class="nump">166,949<span></span>
</td>
<td class="nump">140,198<span></span>
</td>
</tr>
<tr class="ro">
<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="re">
<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="ro">
<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">734,597<span></span>
</td>
<td class="nump">667,315<span></span>
</td>
</tr>
<tr class="re">
<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">75,030<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_NotesPayableRelatedPartiesNoncurrent', window );">Excel Vessel Bridge Facility from related parties, non current portion (Note 3 &amp; Note 8)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">47,993<span></span>
</td>
</tr>
<tr class="re">
<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 19)</a></td>
<td class="nump">2,518<span></span>
</td>
<td class="nump">2,010<span></span>
</td>
</tr>
<tr class="ro">
<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">431<span></span>
</td>
<td class="nump">266<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_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">$ 1,029,525<span></span>
</td>
<td class="nump">$ 907,782<span></span>
</td>
</tr>
<tr class="ro">
<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 17)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<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="ro">
<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 Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2014 and 2015 (Note 9)</a></td>
<td class="nump">$ 0<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_CommonStockValue', window );">Common Stock, $0.01 par value, 300,000,000 shares authorized; 109,426,236 and 219,105,712 shares issued and outstanding at December 31, 2014 and 2015, respectively (Note 9)</a></td>
<td class="nump">2,191<span></span>
</td>
<td class="nump">1,094<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital (Note 9)</a></td>
<td class="nump">2,006,687<span></span>
</td>
<td class="nump">1,567,713<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income/ (loss) (Note 19)</a></td>
<td class="num">(1,216)<span></span>
</td>
<td class="num">(378)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(872,304)<span></span>
</td>
<td class="num">(414,127)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Stockholders' Equity</a></td>
<td class="nump">1,135,358<span></span>
</td>
<td class="nump">1,154,302<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</a></td>
<td class="nump">$ 2,164,883<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 22<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<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>
</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<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>
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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">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6846152736">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 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_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock</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_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock - Par Value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<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_PreferredStockSharesAuthorized', window );">Preferred Stock - Shares Authorized</a></td>
<td class="nump">25,000,000<span></span>
</td>
<td class="nump">25,000,000<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_PreferredStockSharesIssued', window );">Preferred Stock - Shares Issued</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<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_PreferredStockSharesOutstanding', window );">Preferred Stock - Shares Outstanding</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_StatementEquityComponentsAxis=us-gaap_CommonStockMember', window );">Common Stock</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_CommonStockParOrStatedValuePerShare', window );">Common Stock - Par Value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<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_CommonStockSharesAuthorized', window );">Common Stock - Shares Authorized</a></td>
<td class="nump">300,000,000<span></span>
</td>
<td class="nump">300,000,000<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_CommonStockSharesIssued', window );">Common Stock - Shares Issued</a></td>
<td class="nump">219,105,712<span></span>
</td>
<td class="nump">109,426,236<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common Stock - Shares Outstanding</a></td>
<td class="nump">219,105,712<span></span>
</td>
<td class="nump">109,426,236<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_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_CommonStockParOrStatedValuePerShare</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>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>instant</td>
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</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 );">- Definition</a><div><p>The maximum number of common shares 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_CommonStockSharesAuthorized</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>
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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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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>
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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_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_CommonStockSharesOutstanding</td>
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<tr>
<td style="padding-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>instant</td>
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</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 );">- 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="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>
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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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockSharesAuthorized</td>
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<tr>
<td style="padding-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_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-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_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockSharesOutstanding</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>
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<td><strong> Balance Type:</strong></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_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_PreferredStockMember</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_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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6840305456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Operations - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<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">$ 234,035<span></span>
</td>
<td class="nump">$ 145,041<span></span>
</td>
<td class="nump">$ 68,296<span></span>
</td>
</tr>
<tr class="re">
<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">251<span></span>
</td>
<td class="nump">2,346<span></span>
</td>
<td class="nump">1,598<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">234,286<span></span>
</td>
<td class="nump">147,387<span></span>
</td>
<td class="nump">69,894<span></span>
</td>
</tr>
<tr class="re">
<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>
<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 (Note 18)</a></td>
<td class="nump">72,877<span></span>
</td>
<td class="nump">42,341<span></span>
</td>
<td class="nump">7,549<span></span>
</td>
</tr>
<tr class="re">
<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 );">Charter-in hire expenses</a></td>
<td class="nump">1,025<span></span>
</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_OperatingCostsAndExpenses', window );">Vessel operating expenses (Note 18)</a></td>
<td class="nump">112,796<span></span>
</td>
<td class="nump">53,096<span></span>
</td>
<td class="nump">27,087<span></span>
</td>
</tr>
<tr class="re">
<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">14,950<span></span>
</td>
<td class="nump">5,363<span></span>
</td>
<td class="nump">3,519<span></span>
</td>
</tr>
<tr class="ro">
<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">82,070<span></span>
</td>
<td class="nump">37,150<span></span>
</td>
<td class="nump">16,061<span></span>
</td>
</tr>
<tr class="re">
<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 12)</a></td>
<td class="nump">8,436<span></span>
</td>
<td class="nump">158<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_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">23,621<span></span>
</td>
<td class="nump">32,723<span></span>
</td>
<td class="nump">9,910<span></span>
</td>
</tr>
<tr class="re">
<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>
<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_AssetImpairmentCharges', window );">Impairment loss (Note 5, Note 6 and Note 19)</a></td>
<td class="nump">321,978<span></span>
</td>
<td class="nump">0<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>
<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 (Note 11)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">94<span></span>
</td>
<td class="nump">1,125<span></span>
</td>
</tr>
<tr class="re">
<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 (Note 10)</a></td>
<td class="num">(592)<span></span>
</td>
<td class="num">(10,003)<span></span>
</td>
<td class="num">(3,787)<span></span>
</td>
</tr>
<tr class="ro">
<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">20,585<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">87<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Gain from bargain purchase (Note 1)</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(12,318)<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">659,860<span></span>
</td>
<td class="nump">148,819<span></span>
</td>
<td class="nump">61,551<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">(425,574)<span></span>
</td>
<td class="num">(1,432)<span></span>
</td>
<td class="nump">8,343<span></span>
</td>
</tr>
<tr class="ro">
<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>
<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">(29,661)<span></span>
</td>
<td class="num">(9,575)<span></span>
</td>
<td class="num">(6,814)<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">1,090<span></span>
</td>
<td class="nump">629<span></span>
</td>
<td class="nump">230<span></span>
</td>
</tr>
<tr class="re">
<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 instruments, net (Note 19)</a></td>
<td class="num">(3,268)<span></span>
</td>
<td class="num">(799)<span></span>
</td>
<td class="nump">91<span></span>
</td>
</tr>
<tr class="ro">
<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="num">(652)<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">(32,813)<span></span>
</td>
<td class="num">(10,397)<span></span>
</td>
<td class="num">(6,493)<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">(458,387)<span></span>
</td>
<td class="num">(11,829)<span></span>
</td>
<td class="nump">1,850<span></span>
</td>
</tr>
<tr class="re">
<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 (Note 3)</a></td>
<td class="nump">210<span></span>
</td>
<td class="nump">106<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_NetIncomeLoss', window );">Net income/(loss)</a></td>
<td class="num">$ (458,177)<span></span>
</td>
<td class="num">$ (11,723)<span></span>
</td>
<td class="nump">$ 1,850<span></span>
</td>
</tr>
<tr class="re">
<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 );">Earnings/(loss) per share, basic (Note 14)</a></td>
<td class="num">$ (2.34)<span></span>
</td>
<td class="num">$ (0.2)<span></span>
</td>
<td class="nump">$ 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_EarningsPerShareDiluted', window );">Earnings/(loss) per share, diluted (Note 14)</a></td>
<td class="num">$ (2.34)<span></span>
</td>
<td class="num">$ (0.2)<span></span>
</td>
<td class="nump">$ 0.13<span></span>
</td>
</tr>
<tr class="re">
<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 number of shares outstanding, basic (Note 14)</a></td>
<td class="nump">195,623,363<span></span>
</td>
<td class="nump">58,441,193<span></span>
</td>
<td class="nump">14,051,344<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_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average number of shares outstanding, diluted (Note 14)</a></td>
<td class="nump">195,623,363<span></span>
</td>
<td class="nump">58,441,193<span></span>
</td>
<td class="nump">14,116,389<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_BusinessCombinationBargainPurchaseGainRecognizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<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_BusinessCombinationBargainPurchaseGainRecognizedAmount</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 9<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4,6)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<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>
</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_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6839745856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income / (Loss) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
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<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_NetIncomeLoss', window );">Net income/(loss):</a></td>
<td class="num">$ (458,177)<span></span>
</td>
<td class="num">$ (11,723)<span></span>
</td>
<td class="nump">$ 1,850<span></span>
</td>
</tr>
<tr 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 income/(loss):</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_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss', window );">Unrealized gain from hedging interest rate swaps recognized in Other Comprehensive income / (loss) before reclassifications (Note 19)</a></td>
<td class="num">(5,047)<span></span>
</td>
<td class="num">(1,433)<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_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax', window );">Less: Reclassification adjustments of interest rate swap loss (Note 19)</a></td>
<td class="nump">4,209<span></span>
</td>
<td class="nump">1,055<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income/ (loss):</a></td>
<td class="num">(838)<span></span>
</td>
<td class="num">(378)<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">$ (459,015)<span></span>
</td>
<td class="num">$ (12,101)<span></span>
</td>
<td class="nump">$ 1,850<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
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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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</table></div>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
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<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>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br></p></div>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e689-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph c<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41638-113959<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6848410048">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders' Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Common Stock</div></th>
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<div>Merger &amp; Pappas Transaction (Note 1) </div>
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<th class="th"><div>Heron Transaction in escrow account (Note 1)</div></th>
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<div>Heron Transaction in escrow account (Note 1) </div>
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<th class="th">
<div>Heron Transaction in escrow account (Note 1) </div>
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<th class="th"><div>Excel Transactions (Note 1)</div></th>
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<div>Excel Transactions (Note 1) </div>
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<th class="th">
<div>Excel Transactions (Note 1) </div>
<div>Additional Paid-in Capital</div>
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<div>Oceanbulk Maritime (Note 3) </div>
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<div>Oceanbulk Maritime (Note 3) </div>
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<td class="nump">$ 54<span></span>
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<td class="nump">$ 520,946<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>
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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>
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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="nump">1,850<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>
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<td class="nump">0<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>
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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>
<tr class="re">
<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 stock (Note 9), value</a></td>
<td class="nump">146,022<span></span>
</td>
<td class="nump">$ 234<span></span>
</td>
<td class="nump">145,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Issuance of common stock (Note 9), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,388,861<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 13), value</a></td>
<td class="nump">1,488<span></span>
</td>
<td class="nump">$ 3<span></span>
</td>
<td class="nump">1,485<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">270,000<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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, 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">(11,723)<span></span>
</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">(11,723)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="num">(378)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(378)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 stock (Note 1 and Note 9), value</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">$ 328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 328<span></span>
</td>
<td class="nump">$ 616,272<span></span>
</td>
<td class="nump">$ 520<span></span>
</td>
<td class="nump">$ 615,752<span></span>
</td>
<td class="nump">$ 25,079<span></span>
</td>
<td class="nump">$ 21<span></span>
</td>
<td class="nump">$ 25,058<span></span>
</td>
<td class="nump">$ 252,784<span></span>
</td>
<td class="nump">$ 257<span></span>
</td>
<td class="nump">$ 252,527<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 );">Issuance of common stock (Note 1 and Note 9), 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="nump">22,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,988,494<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,115,706<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,659,425<span></span>
</td>
<td class="text">&#160;<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 13), value</a></td>
<td class="nump">5,834<span></span>
</td>
<td class="nump">$ 5<span></span>
</td>
<td class="nump">5,829<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">580,342<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">(458,177)<span></span>
</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">(458,177)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="num">(838)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(838)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Amortization of stock-based compensation (Note 13)</a></td>
<td class="nump">2,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodValueNewIssues', window );">Issuance of common stock (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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of common stock (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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 13), 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodValueIssuedForServices', window );">Issuance of shares for commission to Oceanbulk Maritime (Note 3), value</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="nump">$ 282<span></span>
</td>
<td class="nump">$ 2<span></span>
</td>
<td class="nump">$ 280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Issuance of shares for commission to Oceanbulk Maritime (Note 3), 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">171,171<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, 2015</a></td>
<td class="nump">$ 1,135,358<span></span>
</td>
<td class="nump">$ 2,191<span></span>
</td>
<td class="nump">$ 2,006,687<span></span>
</td>
<td class="num">$ (1,216)<span></span>
</td>
<td class="num">$ (872,304)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommonStockSharesIssued', window );">BALANCE, shares at Dec. 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">219,105,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</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_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_StockIssuedDuringPeriodValueIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 in lieu of cash for services contributed to the entity. Value of the stock issued includes, but is not limited to, services contributed by vendors and founders.</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_StockIssuedDuringPeriodValueIssuedForServices</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_InterchartSoceAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_InterchartSoceAdjustmentsMember</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_MergerPappasTransactionSoceAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MergerPappasTransactionSoceAdjustmentsMember</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_HeronTransactionSoceAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_HeronTransactionSoceAdjustmentsMember</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_ExcelTransactionsSoceAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ExcelTransactionsSoceAdjustmentsMember</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>
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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_OceanbulkMaritimeSoceAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_OceanbulkMaritimeSoceAdjustmentsMember</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>
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<td></td>
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<DOCUMENT>
<TYPE>XML
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<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6835318208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders' Equity (Parentheticals)<br></strong></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_BusinessAcquisitionAxis=sblk_InterchartShippingIIMember', window );">Interchart Shipping Inc</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_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [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_BusinessAcquisitionPercentageOfVotingInterestsAcquired', window );">Percentage of total outstanding common shares</a></td>
<td class="nump">33.00%<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_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_BusinessAcquisitionLineItems</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>
</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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_BusinessAcquisitionAxis=sblk_InterchartShippingIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_InterchartShippingIIMember</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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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R8.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6846282784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ (458,177)<span></span>
</td>
<td class="num">$ (11,723)<span></span>
</td>
<td class="nump">$ 1,850<span></span>
</td>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">82,070<span></span>
</td>
<td class="nump">37,150<span></span>
</td>
<td class="nump">16,061<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfAboveAndBelowMarketLeases', window );">Amortization of fair value of above market acquired time charters (Note 7)</a></td>
<td class="nump">9,540<span></span>
</td>
<td class="nump">6,113<span></span>
</td>
<td class="nump">6,352<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_AmortizationOfFinancingCosts', window );">Amortization of deferred finance charges (Note 8)</a></td>
<td class="nump">2,732<span></span>
</td>
<td class="nump">681<span></span>
</td>
<td class="nump">522<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionCurrentPeriodGainRecognized', window );">Amortization of deferred gain (Note 5)</a></td>
<td class="num">(22)<span></span>
</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_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment (Note 8)</a></td>
<td class="nump">974<span></span>
</td>
<td class="nump">652<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>
<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_AssetImpairmentCharges', window );">Impairment loss (Note 19)</a></td>
<td class="nump">321,978<span></span>
</td>
<td class="nump">0<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_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on sale of vessel (Note 5)</a></td>
<td class="nump">20,585<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">87<span></span>
</td>
</tr>
<tr class="ro">
<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 13)</a></td>
<td class="nump">2,684<span></span>
</td>
<td class="nump">5,834<span></span>
</td>
<td class="nump">1,488<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_UnrealizedGainLossOnDerivatives', window );">Non-cash effects of derivatives (Note 19)</a></td>
<td class="num">(121)<span></span>
</td>
<td class="nump">1,717<span></span>
</td>
<td class="num">(91)<span></span>
</td>
</tr>
<tr class="ro">
<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">38<span></span>
</td>
<td class="nump">66<span></span>
</td>
<td class="nump">38<span></span>
</td>
</tr>
<tr class="re">
<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>
<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_GainFromInsuranceClaim', window );">Gain from insurance claim</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(237)<span></span>
</td>
<td class="num">(1,030)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Gain from bargain purchase (Note 1)</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(12,318)<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_GainFromWriteOffLiability', window );">Write-off of liability in other operational gain (non cash gain) (Note 10)</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(1,361)<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_IncomeLossFromEquityMethodInvestments', window );">Equity in income of investee (Note 3)</a></td>
<td class="num">(210)<span></span>
</td>
<td class="num">(106)<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_IncreaseDecreaseInOperatingAssetsAbstract', window );"><strong>(Increase) / Decrease in:</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_IncreaseDecreaseInAccountsReceivable', window );">Trade accounts receivable</a></td>
<td class="nump">13,876<span></span>
</td>
<td class="num">(16,057)<span></span>
</td>
<td class="nump">2,766<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">121<span></span>
</td>
<td class="num">(5,409)<span></span>
</td>
<td class="nump">1,887<span></span>
</td>
</tr>
<tr class="re">
<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">(8,497)<span></span>
</td>
<td class="num">(2,328)<span></span>
</td>
<td class="num">(131)<span></span>
</td>
</tr>
<tr class="ro">
<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">(964)<span></span>
</td>
<td class="nump">287<span></span>
</td>
<td class="num">(339)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract', window );"><strong>Increase / (Decrease) in:</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_IncreaseDecreaseInAccountsPayableTrade', window );">Accounts payable</a></td>
<td class="num">(5,276)<span></span>
</td>
<td class="nump">1,995<span></span>
</td>
<td class="num">(1,626)<span></span>
</td>
</tr>
<tr class="re">
<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">(1,744)<span></span>
</td>
<td class="num">(449)<span></span>
</td>
<td class="nump">297<span></span>
</td>
</tr>
<tr class="ro">
<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">1,465<span></span>
</td>
<td class="nump">6,713<span></span>
</td>
<td class="nump">350<span></span>
</td>
</tr>
<tr class="re">
<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">2,291<span></span>
</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_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(35)<span></span>
</td>
<td class="nump">1,384<span></span>
</td>
<td class="num">(986)<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_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by/(used in) Operating Activities</a></td>
<td class="num">(14,578)<span></span>
</td>
<td class="nump">12,819<span></span>
</td>
<td class="nump">27,495<span></span>
</td>
</tr>
<tr class="ro">
<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 provided by/(used in) Investing Activities:</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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Advances for vessels under construction and acquisition of vessels and other assets</a></td>
<td class="num">(473,917)<span></span>
</td>
<td class="num">(518,447)<span></span>
</td>
<td class="num">(127,814)<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_PaymentsToAcquireAboveMarketAcquiredTimeCharters', window );">Cash paid for above market acquired time charters (Note 7)</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(4,856)<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_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Cash proceeds from vessel sale (Note 5)</a></td>
<td class="nump">70,300<span></span>
</td>
<td class="nump">1,100<span></span>
</td>
<td class="nump">8,267<span></span>
</td>
</tr>
<tr class="ro">
<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 (Note 3)</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(200)<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_CashAcquiredFromAcquisition', window );">Cash received from Merger &amp; Pappas Transaction (Note 1)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">96,268<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_ProceedsFromInsuranceSettlementInvestingActivities', window );">Hull and Machinery Insurance proceeds</a></td>
<td class="nump">309<span></span>
</td>
<td class="nump">550<span></span>
</td>
<td class="nump">4,265<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_ProceedsFromCancellationOfVesselsUnderConstruction', window );">Proceeds from cancellation of vessels under construction</a></td>
<td class="nump">5,800<span></span>
</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_DecreaseInRestrictedCash', window );">Decrease in restricted cash</a></td>
<td class="nump">4,500<span></span>
</td>
<td class="nump">35<span></span>
</td>
<td class="nump">7,664<span></span>
</td>
</tr>
<tr class="re">
<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">(4,525)<span></span>
</td>
<td class="num">(11,525)<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_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by/(used in) Investing Activities</a></td>
<td class="num">(397,533)<span></span>
</td>
<td class="num">(437,075)<span></span>
</td>
<td class="num">(107,618)<span></span>
</td>
</tr>
<tr class="re">
<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 provided by/(used in) Financing Activities:</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_ProceedsFromIssuanceOfDebt', window );">Proceeds from bank loans and 8.00% 2019 Notes</a></td>
<td class="nump">373,993<span></span>
</td>
<td class="nump">637,207<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_RepaymentsOfDebt', window );">Loan prepayments and repayments</a></td>
<td class="num">(244,529)<span></span>
</td>
<td class="num">(173,986)<span></span>
</td>
<td class="num">(33,780)<span></span>
</td>
</tr>
<tr class="ro">
<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">(13,094)<span></span>
</td>
<td class="num">(6,513)<span></span>
</td>
<td class="num">(271)<span></span>
</td>
</tr>
<tr class="re">
<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">418,771<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">150,905<span></span>
</td>
</tr>
<tr class="ro">
<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 stock</a></td>
<td class="num">(974)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(4,883)<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">534,167<span></span>
</td>
<td class="nump">456,708<span></span>
</td>
<td class="nump">111,971<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 increase in cash and cash equivalents</a></td>
<td class="nump">122,056<span></span>
</td>
<td class="nump">32,452<span></span>
</td>
<td class="nump">31,848<span></span>
</td>
</tr>
<tr class="re">
<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 year</a></td>
<td class="nump">86,000<span></span>
</td>
<td class="nump">53,548<span></span>
</td>
<td class="nump">21,700<span></span>
</td>
</tr>
<tr class="ro">
<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 year</a></td>
<td class="nump">208,056<span></span>
</td>
<td class="nump">86,000<span></span>
</td>
<td class="nump">53,548<span></span>
</td>
</tr>
<tr class="re">
<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 year for:</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_InterestPaidNet', window );">Interest, net of amount capitalized</a></td>
<td class="nump">$ 29,813<span></span>
</td>
<td class="nump">$ 5,803<span></span>
</td>
<td class="nump">$ 6,156<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<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_sblk_GainFromWriteOffLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 non-cash gain from the write-off of a liability, relevant to operating 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;">sblk_GainFromWriteOffLiability</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_PaymentsToAcquireAboveMarketAcquiredTimeCharters">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 to acquire above market charters.</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_PaymentsToAcquireAboveMarketAcquiredTimeCharters</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_ProceedsFromCancellationOfVesselsUnderConstruction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 associated with the reassignment of the leases for newbuilding vessels back to the vessels' owner.</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_ProceedsFromCancellationOfVesselsUnderConstruction</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_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_AmortizationOfAboveAndBelowMarketLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 non-cash amortization of intangible asset (liability) for above and below market 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;">us-gaap_AmortizationOfAboveAndBelowMarketLeases</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 8<br> -Article 9<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_BusinessCombinationBargainPurchaseGainRecognizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<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_BusinessCombinationBargainPurchaseGainRecognizedAmount</td>
</tr>
<tr>
<td style="padding-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_CashAcquiredFromAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 associated with the acquisition of business during the period (for example, cash that was held by the acquired 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<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_CashAcquiredFromAcquisition</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 9<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_IncreaseDecreaseInOperatingAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_IncreaseDecreaseInOperatingAssetsAbstract</td>
</tr>
<tr>
<td style="padding-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_IncreaseDecreaseInOperatingLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_IncreaseDecreaseInOperatingLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<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>
</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<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>
<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_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>
</tr>
<tr>
<td style="padding-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_SaleLeasebackTransactionCurrentPeriodGainRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the deferred gain that was recognized in the current 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35688829&amp;loc=d3e50609-112754<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_SaleLeasebackTransactionCurrentPeriodGainRecognized</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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>
</table>
<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>
</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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>
</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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6631034480">
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<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Basis of Presentation and General Information:</b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The accompanying consolidated financial statements as of and for the years ended December 31, 2013, 2014 and 2015, include the accounts of Star Bulk Carriers Corp. (&#147;Star Bulk&#148;) and its wholly owned subsidiaries as set forth below (collectively, the &#147;Company&#148;).</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk was incorporated on December 13, 2006 under the laws of the Marshall Islands and maintains executive offices in Athens, Greece. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels. Since December 3, 2007, Star Bulk shares trade on the NASDAQ Global Select Market under the ticker symbol SBLK.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>The July 2014 Transactions</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July 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;Oceanbulk Sellers&#148; or &#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;). 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. Millennia Holdings is an entity that is affiliated with the family of Mr. 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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The agreement governing the Merger, the &#147;Merger Agreement&#148;, 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. Oceanbulk Shipping at the time of the Merger had an outstanding loan receivable of $23,680 from Heron that was convertible into 50% of the equity interests of Heron (the &#147;Heron Convertible Loan&#148;). The Heron Convertible Loan was converted into 50% of the equity of Heron on November 5, 2014. The Company issued 2,115,706 of its common shares into escrow as part of the consideration for the acquisition of the Heron Vessels. The common shares were released from escrow to the Sellers on January 30, 2015, following the transfer of the Heron Vessels to the Company on December 5, 2014 (Note 5). In addition to the issued shares, upon the delivery of the Heron vessels the Company paid $25,000 in cash, which was financed by the Heron Vessels Facility (described in Note 8t), which the Company had entered in November 2014. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;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. Pappas. 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 (<i>Indomitable </i>- ex-HN 5016), which was delivered in January 2015. The Merger, the Heron Transaction and the Pappas Transaction are referred to, together, as the &#147;July 2014 Transactions&#148;.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Merger and the Pappas Transaction have been reflected in the Company's consolidated financial statements for the year ended December 31, 2014, as purchases of businesses pursuant to Financial Accounting Standards Board (&#147;FASB&#148;) Accounting Standards Codification (&#147;ASC&#148;) 805, &#147;<i>Business Combinations</i>&#148;, and the results of operations of Oceanbulk and the Pappas Companies have been included in the accompanying consolidated statement of operations since July 11, 2014, the date the Merger and the Pappas Transaction were completed. The following table summarizes the estimated fair values of the significant assets acquired and liabilities assumed by the Company on the date of the acquisition with respect to the Merger and the Pappas Transaction:</font></div>
<div style="text-align:justify;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="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><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:104px;"><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;July 11, 2014</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Assets</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Cash and cash equivalents</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ </b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;89,887</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Restricted cash</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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;6,381</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other current assets</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,906</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Advances for vessel acquisition and vessels under construction</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;316,786</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;426,000</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Fair value of above market acquired charters</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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;1,967</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Assets acquired</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;854,927</b></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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Liabilities</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,372</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Long-term debt, including current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;208,237</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Derivative financial liabilities</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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;5,728</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Liabilities assumed</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;226,337</b></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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Net assets acquired</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;628,590</b></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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;616,272</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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Gain from Bargain Purchase</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,318</b></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>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><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>
  </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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The purchase price allocation was prepared by the Company, assisted by a third party expert, based on management estimates and assumptions, making use of available market data and taking into consideration third party valuations. Major adjustments to record the acquired assets and assumed liabilities at fair value include:</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(a) a $158,523 fair value adjustment recognized for vessels under construction, as supported by vessel valuations of independent shipbrokers on a fully delivered and charter free basis, through Level 2 of the fair value hierarchy based on observable inputs, prevailing in the sale and purchase market of similar vessels on June&#160;23, 2014, which, according to the third party appraiser and management estimates and based on the then current market trends were not &#160;materially different from the values on July 11, 2014;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(b) a $79,465 fair value adjustment recognized for vessels in operation, as supported by vessel valuations of independent shipbrokers on a charter free basis, through Level 2 of the fair value hierarchy based on observable inputs, prevailing in the sale and purchase market of similar vessels on June 23, 2014, which, according to the third party appraiser and management estimates and based on the then current market trends were not materially different from the values on July 11, 2014;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(c) a write-off of the Heron Convertible Loan of $23,680, as further discussed below, on the basis that no economic benefit is expected to be provided to the Company from Heron's liquidation process (other than the distribution of the Heron Vessels in exchange for separate consideration of 2,115,706 common shares and $25,000 in cash) with any distributable cash from the liquidation of Heron to be transferred to the former owners of Oceanbulk Shipping as further discussed in Note 17.2;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(d) a write-off of $3,003 deferred finance costs with respect to financing arrangements that, according to the third party appraiser and management estimates, are not expected to provide any ongoing benefit to the business;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(e) a $1,967 intangible asset recognized with respect to a fair value adjustment for two favorable charters under which Oceanbulk is the lessor, through Level 2 of the fair value hierarchy based on observable inputs, by comparing the discounted cash flows under the existing charters with those that could be obtained in the then current market by vessels of similar size and age for the remaining charter period. &#160;The respective intangible asset will be amortized on a straight-line basis over the remaining period of the time charters which are scheduled to end during the first and second quarter of 2016 (please refer to Note 7).</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The fair value of the share consideration issued in the July 2014 Transactions was based on the market price of $11.854 per share of the Company's common shares.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The resulting gain from bargain purchase from the acquisition of Oceanbulk and the Pappas Companies of $12,318 is separately presented in the accompanying consolidated statement of operations for the year ended December 31, 2014. The gain from bargain purchase is primarily attributable to the estimates of the fair value of the assets acquired and liabilities assumed and the subsequent stability or slightly declining market value of dry bulk carrier vessels since the signing of the agreements relating to the July 2014 Transactions, combined with the simultaneous decline in stock prices for most U.S. listed shipping companies, including Star Bulk, which had at the time of the Merger decreased by a greater amount than their net asset values.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The following unaudited financial information reflects the results of operations of Oceanbulk and Pappas Companies since the acquisition date included in the Company's consolidated statement of operations for the year ended December 31, 2014:</font></div>
<div style="text-indent:0.0px;"></div>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:25px;"><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:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Oceanbulk</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><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:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Pappas Companies</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Voyage revenues</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:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">39,585 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,249 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Operating income/(loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(645</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">111 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Net loss</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(4,822</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(213</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></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;text-indent:0.0px;"><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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The following unaudited pro forma consolidated financial information reflects the results of operations for the years ended December 31, 2013 and 2014, as if the Merger and the Pappas Transaction had been consummated on January 1, 2013 and after giving effect to purchase accounting adjustments, including the nonrecurring pro forma reversal of: (i) the gain from bargain purchase of $12,318 in 2014; (ii) all acquisition-related transaction costs of $12,757 in 2014; and (iii) the interest expense of $1,412 in 2013 and $1,816 in 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 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. &#160;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="text-align:justify;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:296px;height:15px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:32px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:130px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><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:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><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:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma revenues </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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">82,090 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">177,654 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma operating loss</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(1,172</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(10,296</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma net loss </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(10,604</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(24,075</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma loss per share, basic and diluted </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(0.15</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(0.27</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></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;text-indent:0.0px;"><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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Heron Transaction has been reflected in the Company's consolidated financial statements for the year ended December 31, 2014, as a purchase of assets with the acquisition cost of the two Heron Vessels delivered on December 5, 2014, consisting of the value of the 2,115,706 common shares issued on July 11, 2014, of $25,080, and $25,000 in cash, financed by the Heron Vessels Facility &#160;(Note 17.2) being recorded within &#147;Vessels and other fixed assets, net&#148; in the accompanying consolidated balance sheets, net of accumulated depreciation (Note 5). As discussed above, as part of the purchase price allocation as of July 11, 2014, the Company assigned zero value to the Heron Convertible Loan, as no economic benefit is expected to be provided to the Company from Heron's liquidation process, since any distributable cash from the liquidation of Heron will be transferred to the former owners of Oceanbulk Shipping and not to the Company as further discussed in Note 17.2 below.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On September 5, 2014, Oceanbulk Shipping, which became, following the Merger a wholly owned subsidiary of Star Bulk, entered into a term sheet with ABY Group Holdings Limited (&#147;ABY Group&#148;) and Heron. The term sheet provided for the conversion of the Heron Convertible Loan. Among other things, the term sheet contained customary governance provisions and provisions relating to the liquidation of Heron following the conversion of the Heron Convertible Loan. &#160;Under the term sheet, Oceanbulk Shipping received as a distribution the vessels <i>Star Gwyneth (ex-ABYO Gwyneth</i>) and <i>Star Angelina (ex-ABYO Angelina</i>) (two Kamsarmax vessels of 82,790 dwt and 82,981 dwt, respectively), and ABY Group received, as a distribution, the <i>ABYO Audrey</i> (a Capesize vessel of 175,125 dwt) and the <i>ABYO Oprah</i> (a Kamsarmax vessel of 82,551 dwt). On November 5, 2014, the conversion of the Heron Convertible Loan into 50% of the equity interests of Heron was completed. However, such conversion did not affect the Company's financial statements since, as further discussed above and in Note 17.2, pursuant to the provisions of the Merger Agreement, the former owners of Oceanbulk will effectively remain the ultimate beneficial owners of Heron until Heron is dissolved and any distributable cash from the liquidation of Heron will be transferred to the former owners of Oceanbulk Shipping and not to the Company. &#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company incurred transaction costs and a stock based compensation expense relating to the July 2014 Transactions of $9,364 and $1,808, respectively, which are included in &#147;General and administrative expenses&#148; in the accompanying consolidated statement of operations for the year ended December 31, 2014.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>The Excel Transactions</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On August 19, 2014, the Company entered into definitive agreements with Excel Maritime Carriers Ltd. (&#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 (Note 3). The Excel Vessels were transferred to the Company in a series of closings, on a vessel-by-vessel basis, in general upon reaching port after their current voyages and cargoes were discharged. The last Excel Vessel was delivered to the Company in April 2015. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In the case of three Excel Vessels (<i>Star Martha </i>(ex<i> Christine</i>), <i>Star Pauline </i>(ex <i>Sandra</i>) and <i>Star Despoina </i>(ex<i> Lowlands Beilun</i>)), which were transferred subject to existing charters, the Company acquired the outstanding equity interests of the vessel-owning subsidiaries that own those Excel Vessels (although all other assets and liabilities of such vessel-owning subsidiaries remained with Excel). The delivery of each Excel Vessel has been reflected in the Company's financial statements as a purchase of assets.</font><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:Calibri;font-size:13.3px;color:#000000; ">At the transfer of each Excel Vessel, the Company paid the cash and share consideration for such Excel Vessel to Excel. The Company used cash on hand, together with borrowings under (i) a $231,000 secured bridge loan facility (the &#147;Excel Vessel Bridge Facility&#148;) provided to the Company by Excel's majority equity holders, which are entities affiliated with Oaktree and entities affiliated with Angelo, Gordon &amp; Co. (&#147;Angelo, Gordon&#148;), or (ii) other bank borrowings, to fund part of the cash consideration for the acquisition of the Excel Vessels (Notes 3 and 8). Excel used the cash consideration to cause an amount of outstanding indebtedness under its senior secured credit agreement to be repaid, such that all liens and obligations with respect to each transferred Excel Vessel were released upon its transfer to the Company.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Below is the list of the Company's wholly owned subsidiaries as of December 31, 2015:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Subsidiaries owning vessels in operation at December 31, 2015</b></i></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:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:141px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:214px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Date</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Delivered to Star Bulk</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1 &#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:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sea Diamond Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Goliath (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">209,537</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Pearl Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Gargantua (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">209,529</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">3 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Coral Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Maharaj (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">209,472</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">4 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">L.A. Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Deep Blue (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,608</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">May 27, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">5 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Ocean Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Leviathan (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,511</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">6 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Horizon Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Peloreus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,496</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;22, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">7 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Positive Shipping Company</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Indomitable (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,476</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 8, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">8 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">OOCape1 Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Obelix (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">181,433</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">9 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sandra Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Pauline &#160;(ex Sandra) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2008</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">10 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Christine Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Martha (ex Christine) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2010</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">11 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Pacific Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Pantagruel (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">180,181</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">12 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Borealis LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Borealis</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">179,678</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;9, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">13 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Polaris LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Polaris</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">179,600</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November&#160;14, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">14 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident V LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Angie (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">177,931</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">15 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sky Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Big Fish (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">177,643</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">16 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Global Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Kymopolia (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">176,990</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">17 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sea Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Big Bang (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">174,109</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">18 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Aurora LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Aurora</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">171,199</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;8, 2010</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">19 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Lowlands Beilun Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Despoina &#160;(ex Lowlands Beilun) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">170,162</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">20 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident VII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Eleonora (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 3, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">21 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident VI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Monisha (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">22 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Nautical Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Amami (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">23 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Majestic Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Madredeus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">24 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Sirius LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Sirius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March&#160;7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">25 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Vega LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Vega</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February&#160;13, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">26 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Alta I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Angelina (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,981</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 5, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">27 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Alta II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Gwyneth (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,790</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">28 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Kamila (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,769</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;3, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">29 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Grain Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Pendulum (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,619</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">30 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XIX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Maria (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,598</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">31 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Markella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,594</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">32 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident IX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Danai (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,574</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 21, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">33 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Georgia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,298</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">34 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident VIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Sophia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,269</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 31, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">35 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XVI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Mariella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,266</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">36 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XIV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Moira (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,257</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November 19, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">37 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XVIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Nina (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,224</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 5, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">38 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident X LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Renee (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,221</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 18, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">39 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Nasia &#160;(2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,220</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">40 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Laura (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,209</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 8, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">41 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Jennifer (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">42 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XVII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Helena (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,187</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 29, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">43 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Mineral Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Mercurial Virgo (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">81,545</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">44 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">KMSRX Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Magnum Opus (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">81,022</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">45 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Dioriga Shipping Co.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Tsu Ebisu (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">81,001</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">46 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident&#160;III LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Iris (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">76,466</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;8, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">47 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident IV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Aline (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">76,429</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;4, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">48 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Emily (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">76,417</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;16, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">49 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XXV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Vanessa (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">72,493</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November 7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">50 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Spring Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Idee Fixe (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,458</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 25, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">51 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Orion Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Roberta (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,426</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 31, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">52 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Success Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Laura (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,399</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 7, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">53 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Kaley (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,283</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">June 26, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">54 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Challenger&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Challenger</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,462</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;12, 2013</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">55 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Challenger&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Fighter</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,455</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;30, 2013</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">56 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Aurelia Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Honey Badger (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,320</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 27, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">57 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Rainbow Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Wolverine (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,292</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">58 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Axe&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Antares</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,258</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 9, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">59 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Asia&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Aquarius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">60,916</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 22, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">60 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Asia&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Pisces</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">60,916</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">August 7, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">61 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Glory Supra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Strange Attractor (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">55,742</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">62 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Omicron LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Omicron</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">53,489</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April&#160;17, 2008</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">63 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Gamma LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Gamma </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">53,098</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January&#160;4, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2002</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Zeta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Zeta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,994</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January&#160;2, 2008</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">65 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Delta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Delta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,434</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">66 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Theta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Theta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,425</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;6, 2007</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">67 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Epsilon LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Epsilon </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,402</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;3, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">68 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Cosmo LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Cosmo</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,246</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;1, 2008</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">69 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Kappa LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Kappa</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;14, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">70 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XXX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Michele (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">45,588</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 14, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1998</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:141px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:214px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Total dwt</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>7,362,579</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:89px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:4.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(3)&#160;&#160;&#160;&#160;&#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:Calibri;font-size:13.3px;color:#000000; ">(4) &#160;&#160;Vessels agreed to be sold (Note 20) </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>&#160;</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Subsidiaries owning newbuildings at December 31, 2015</b></i></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:26px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Newbuildings Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Expected Delivery Date</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Ennea LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN NE 198 (tbn <i>Star Poseidon</i>) (Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Seeker LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1372 (tbn <i>Star Libra</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">3 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Clearwater Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1359 (tbn <i>Star Marisa</i>) (5) (Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">4 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Castle&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1342 (tbn <i>Star Gemini</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 2017</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">5 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Domus Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1360 (tbn <i>Star Ariadne</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2017</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">6 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Breezer LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1371 (tbn <i>Star Virgo</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2017</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">7 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Castle&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1343 (tbn <i>Star Leo</i>) (7)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2018</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">8 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Festive Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1361 (tbn <i>Star Magnanimus</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2018</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">9 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Confidence Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 5055 <i>(</i>tbn<i> Behemoth) </i>(6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">10 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Runner Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 5056 <i>(</i>tbn<i> Megalodon) </i>(6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">11 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Olympia Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1312 <i>(</i>tbn<i> Bruno Marks) </i>(6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">12 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Victory Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1313 <i>(</i>tbn<i> Jenmark)</i> (6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">13 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Cape&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1338 (tbn <i>Star Aries</i>) (6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">14 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Cape&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1339 (tbn <i>Star Taurus</i>) (6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">15 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Blooming Navigation LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1080 <i>(</i>tbn<i> Kennadi) </i>(Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">16 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Jasmine Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1081 <i>(</i>tbn<i> Mackenzie) </i>(Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">17 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Oday Marine LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1082 <i>(</i>tbn<i> Night Owl)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">18 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Searay Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1083 <i>(</i>tbn<i> Early Bird)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">19 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Axe&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN NE 197 (tbn <i>Star Lutas</i>) (Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">61,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</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:4.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(5)&#160;&#160;&#160;&#160;&#160;&#160;Subject to a bareboat capital lease (Note 6)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(6)&#160;&#160;&#160;&#160;&#160;&#160;Newbuilding vessels agreed to be sold (Note 20) </font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(7)&#160;&#160;&#160;&#160;&#160;&#160;Newbuilding vessel agreed to be sold and chartered back under a capital lease (Note 6) </font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Non-vessel owning subsidiaries at December 31, 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:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk Management Inc.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Starbulk S.A.</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk Manning LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk Shipmanagement Company (Cyprus) Limited</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Optima Shipping Limited</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Omas LLC </font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Synergy LLC </font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Carriers LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">International Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Unity Holding LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk (USA) LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXI LLC (8)<sup> </sup></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXIV LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXVII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXXI LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXIX LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXVIII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXVI LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Lamda LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXIII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Alpha LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Beta LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Ypsilon LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Mega LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Big LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Gravity Shipping LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">White Sand Shipping LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Premier Voyage LLC (8)</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(8)&#160;&#160;&#160;&#160;&#160;&#160;Owning companies of vessels which have been sold and currently have no operations</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><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:0.0px;"><font style="font-family:Calibri;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 year ended December 31, 2014. &#160;For each vessel, Starbulk S.A. received a fixed management fee of $0.75 per day. Only the vessel <i>Serenity I</i>, listed in the below table, was under Starbulk S.A's commercial and technical management during the year ended December 31, 2015. As of October 1, 2015, the management fee that the Company received for Serenity I was changed to $0.50 per day. </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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessel Owning Company</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:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessel Name</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:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>DWT</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:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>Agreement</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:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <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:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Global Cape Shipping LLC (10)</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:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Kymopolia</i></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:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">176,990</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:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">January&#160;30, 2014</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:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">OOCAPE1 Holdings LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pacific Cape Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Sea Cape Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Sky Cape Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">177,643</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:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Majestic Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Nautical Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Grain Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Mineral Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Renascentia</i>(11)</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:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Marto</i> (12)</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:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Glory Supra Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Premier Voyage LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <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:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Serenity Maritime Inc.</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:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Serenity I</i></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:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">53,688</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:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">June&#160;11, 2011</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:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(10)&#160;&#160;&#160;&#160;&#160;&#160;These companies were subsidiaries of Oceanbulk and related parties to the Company (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:12.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(11) &#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:5.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(12) &#160;&#160;&#160;&#160;&#160;&#160;On July&#160;3, 2014, the Company received a notice of termination of the management agreement for this vessel. The management agreement was terminated upon the vessel's delivery to its new managers, on August&#160;20, 2014. &#160;The Company received 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-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Below is the vessel which was chartered in as part of the sale and leaseback transaction that the Company has entered into for the previously owned vessel Maiden Voyage, which is currently named <i>Astakos</i> (Note 5).</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:136px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>Vessel Name</u></b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>Type</u></b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>DWT</u></b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>Year Built</u></b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><i>Astakos</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">Supramax</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:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">58,722</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b>Total dwt:</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:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b>58,722</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
</table>
<div><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">No charterer accounted for more than 10% of the Company's voyage revenue in 2015. Charterers who individually accounted for more than 10% of the Company's voyage revenues during the years ended December 31, 2013, 2014 are as follows:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Charterer</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2013</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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">A</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">13%</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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">12%</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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">4%</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></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:Calibri;font-size:14.7px;color:#000000; ">34%</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">12%</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">3%</font></div></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;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The outstanding accounts receivable balance as at December 31, 2015 of these charterers was $456.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000;"><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"></div><span></span>
</td>
</tr>
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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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6632017184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 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_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting policies</a></td>
<td class="text"><div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Significant Accounting policies:</b></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>a)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Principles of consolidation:</b></i> The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (&#147;U.S. GAAP&#148;), which include the accounts of Star Bulk and its wholly owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated in the consolidation.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk as the holding company determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under ASC 810 &#147;Consolidation&#148;, a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions. Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">A variable interest entity (&#147;VIE&#148;) is an entity as defined under ASC 810-10, which in general either does not have equity investors with voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2013, 2014 and 2015, no such interest existed.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>b)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Equity method investments: </b></i>Investments in the equity of entities over which the Company exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this method, the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the investment. When the Company's share of losses in an entity accounted for by the equity method equals or exceeds its interest in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made payments on behalf of the entity.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>c)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Use of estimates: </b></i>The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>d)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Comprehensive income/ (loss): </b></i>The statement of comprehensive income / (loss) presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. Reclassification adjustments are presented out of accumulated other comprehensive income / (loss) on the face of the statement in which the components of other comprehensive income / (loss) are presented or in the notes to the financial statements. The Company follows the provisions of ASC 220 &#147;Comprehensive Income&#148;, and presents items of net income / (loss), items of other comprehensive income / (loss) (&#147;OCI&#148;) and total comprehensive income / (loss) in two separate and consecutive statements. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>e)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Concentration of credit risk: </b></i>Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents and restricted cash, trade accounts receivable and derivative contracts (including freight derivatives, bunker derivatives and interest rate swaps). The Company's policy is to place cash and cash equivalents, and restricted cash with financial institutions evaluated as being creditworthy and are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance by counter parties to derivative instruments. To decrease this risk, the Company limits its exposure in over-the-counter transactions by diversifying among counter parties with high credit ratings, and selects freight derivatives, if any, that clear through the London Clearing House. The Company performs periodic evaluations of the relative credit standing of those financial institutions. In addition the Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers' financial condition. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>f)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Foreign currency transactions:</b></i> The functional currency of the Company is the U.S. Dollar since its vessels operate in the international shipping markets, and therefore primarily transact business in U.S. Dollars. The Company's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the period-end exchange rates. Resulting gains or losses are included in &#147;Interest and other income&#148; in the accompanying consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>g)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Cash and cash equivalents:</b></i> The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>h)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Restricted cash</b></i>: Restricted cash represents minimum cash deposits or cash collateral deposits required to be maintained with certain banks under the Company's borrowing arrangements, which are legally restricted as to withdrawal or use. In the event that the obligation to maintain such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets. Otherwise, they are classified as non-current assets. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>i)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Trade accounts receivable, net: </b></i>The amount shown as Trade accounts receivable, net, at each balance sheet date, includes estimated amounts recovered from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. As of December 31, 2014 and 2015, provision for doubtful receivables was nil. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>j)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Inventories:</b></i> Inventories consist of consumable lubricants and bunkers, which are stated at the lower of cost or market value. Cost is determined by the first in, first out method.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>k)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Vessels, net: </b></i>Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for its initial voyage. Any subsequent expenditure, when it does not extend the useful life of the vessel,</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "> </font><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">increase the earning capacity or improve the efficiency or safety of the vessel, is expensed as incurred.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;The cost of each of the Company's vessels is depreciated beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value (vessel's residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton). &#160;Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Effective as of January&#160;1, 2015, following management's reassessment of the residual value of the Company's vessels, the Company increased the estimated scrap rate per light weight tonnage 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 change in this accounting estimate, which pursuant to ASC 250 &#147;Accounting Changes and Error Corrections&#148; was applied prospectively and did not require retrospective application, decreased the depreciation expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share. &#160;&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>l)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Advances for vessels under construction:</b></i> Advances made to shipyards during construction periods are classified as &#147;Advances for vessels under construction and acquisition of vessels&#148; until the date of delivery and acceptance of the vessel, at which date they are reclassified to &#147;Vessels and other fixed assets, net&#148;. Advances for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and other expenses directly related to the construction of the vessel or the preparation of the vessel for its initial voyage. Financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>m)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Fair value of above/below market acquired time charter:</b></i><b> </b>&#160;The Company values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below market acquired time charters is determined by comparing the existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. &#160;Such intangible asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>n)&#160;&#160;&#160;&#160;&#160;&#160;Impairment of long-lived assets: </b></i>The Company follows guidance related to the Impairment or Disposal of long-lived assets which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use and eventual disposition of the asset is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market data and taking into consideration agreed sale prices and third party valuations.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In this respect, the management regularly reviews the carrying amount of the vessels, including newbuilding contracts, on a vessel-by-vessel basis, when events and circumstances indicate that the carrying amount of the vessels or newbuilding contracts might not be recoverable (such as vessel sales and purchases, business plans, obsolescence or damage to the asset and overall market conditions). When impairment indicators are present, the Company compares undiscounted cash flows to the carrying values of the Company's vessels to determine if the assets are impaired. In developing its estimates of future undiscounted net operating cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, ship operating expenses, vessels' residual value, fleet utilization and the estimated remaining useful lives of the vessels, assumed to be 25 years from the delivery of the vessel from the shipyard. These assumptions are based on current market conditions, historical industry and Company specific trends, as well as future expectations. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The undiscounted projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed vessel days and an estimated daily time charter equivalent rate for the unfixed days over the estimated remaining economic life of each vessel, net of brokerage and address commissions. Estimates of the daily time charter equivalent for the unfixed days are based on the current Forward Freight Agreement (&#147;FFA&#148;) rates, for the first three-year period, and historical average rate levels of similar size vessels for the period thereafter. The expected cash inflows from charter revenues are based on an assumed fleet utilization rate of approximately 98% for the unfixed days, taking into account that assumed charter rates are based on time charter equivalent rates, which include the ballast and laden portion of each relevant voyage. In assessing expected future cash outflows, management forecasts vessel operating expenses, which are based on the Company's internal budget for the first annual period and thereafter assume an annual inflation rate of 3% (escalating during the first three-year period), as well as vessel expected maintenance costs (for dry docking and special surveys). The estimated salvage value of each vessel is $0.3 per light weight ton, in accordance with the Company's vessel depreciation policy. &#160;The Company uses a probability weighted approach for developing estimates of future cash flows used to test its vessels for recoverability when alternative courses of action are under consideration (i.e. sale or continuing operation of a vessel). &#160;If the Company's estimate of undiscounted future cash flows for any vessel is lower than the vessel's carrying value, the carrying value is written down to the vessel's fair market value with a charge recorded in earnings.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Using the framework for estimating projected undiscounted net operating cash flows described above, the Company completed its impairment analysis for the years ended December 31, 2013, 2014 and 2015, for those operating vessels and newbuildings whose carrying values were above their respective market values. For 2013 and 2014, no asset impairment was necessary. An impairment loss of $321,978 was recognized for the year ended December 31, 2015, which resulted primarily from the Company's actual and intended vessel sales that are further discussed in Notes 5 and 6.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>o)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Vessels held for sale: </b></i>It is the Company's policy to dispose of vessels when suitable opportunities occur. The Company classifies a vessel as being held for sale when all of the following criteria, enumerated under ASC 360 &#147;Property, Plant, and Equipment&#148;, are met: (i) management has committed to a plan to sell the vessel; (ii) the vessel is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the vessel have been initiated; (iv) the sale of the vessel is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the vessel is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded under &#147;Impairment loss&#148; in the accompanying consolidated statement of operations. The vessels are not depreciated once they meet the criteria to be classified as held for sale. At December 31, 2014 and 2015, there were no vessels that met the criteria to be classified as held for sale.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>p)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Financing costs:</b></i> Fees paid to lenders or required to be paid to third parties on the lenders' behalf for obtaining new loans, senior notes or for refinancing or amending existing loans, are recorded as deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the duration of the relevant loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period in which the repayment or refinancing is made, subject to the guidance regarding <i>Debt Extinguishment</i>. Any unamortized balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the relevant credit facility in the period in which the refinancing occurs<i>.</i></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>q)</b></i><b>&#160;&#160;&#160;&#160;&#160;&#160;</b><i><b>Pension indemnities:</b> </i>Administrative employees are covered by state-sponsored pension funds of Greece. Both employees and the Company are required to contribute a portion of the employees' gross salary to the fund. The related expense is recorded under &#147;General and administrative expenses&#148; in the accompanying consolidated statements of operations and the corresponding liability at each period end is reflected within &#147;Accounts payable&#148; in the accompanying consolidated balance sheets. Upon retirement, the state-sponsored pension funds are responsible for paying the employees retirement benefits without recourse to the Company.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">r<i><b>)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Stock incentive plan awards: </b></i>Stock based compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for their services, and is included in &#147;General and administrative expenses&#148; in the consolidated statements of operations. The shares are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. Guidance related to stock compensation describes two generally accepted methods of recognizing expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the ''accelerated method'', which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award and 2) the ''straight-line method'' which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated method.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The fair value of share options 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-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>s)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Dry docking and special survey expenses: </b></i>Dry docking and special survey expenses are expensed when incurred.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>t)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Accounting for revenue and related expenses: </b></i>The Company generates its revenues from charterers for the charterhire of its vessels under time charter agreements, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charterhire rate, or voyage charter agreements, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified freight rate per ton.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Under time charter agreements, voyage costs, such as fuel and port charges are borne and paid by the charterer. Company's time charter agreements are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with guidance related to leases.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Revenue from voyage charter agreements is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter agreements and is recognized when an arrangement exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue includes cash received prior to the balance sheet date and is related to revenue to be earned after such date. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any) as long term liability.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Payments in advance for services are recorded as prepaid expenses.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Voyage expenses consist of bunker consumption, port expenses and agency fees related to the voyage. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Brokerage commissions are paid by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses and vessel operating expenses are recognized as incurred.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Expenses related to the chartering-in of vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage, except for the hire expense for chartering-in the respective vessels, which is included within &#147;Charter in hire expense&#148; in the consolidated statement of operations. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>u)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Fair value measurements: </b></i>The Company follows the provisions of ASC 820, &#147;Fair Value Measurements and Disclosures&#148; that defines and provides guidance as to the measurement of fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entity's own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 19).</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>v)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Earnings/ (loss) per share</b></i><b>:</b> Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average number of common shares outstanding and vested during the period. Diluted earnings per share reflect the potential dilution assuming that common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and the hypothetical proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note 14).</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>w)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Segment reporting:</b></i> The Company reports financial information and evaluates its operations and operating results by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the Chief Operating Officer, who is the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment, that of operating dry bulk vessels. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>x)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<b>Accounting for leases</b>: Leases of assets under which substantially all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Lease payments under an operating lease are recognized as an expense on a straight-line method over the lease term. As of December 31, 2015, the Company held no operating lease arrangements acting as lessee other than its office leases and an operating lease arrangement for one Supramax vessel (Note 5). </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Leases of vessels are classified as capital leases when they satisfy the criteria for capital lease classification under ASC 840, &#147;Leases&#148;. As of December 31, 2015 the Company was the lessee under certain capital lease arrangements as further discussed in Notes 5 and 6. 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 incurred under a capital lease is included within &#147;Interest and finance costs&#148; in the consolidated statement of operations. The depreciation of vessels under capital lease is included within &#147;Depreciation&#148; in the consolidated statement of operations. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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, 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-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>y)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<b>Derivatives</b>: The Company enters into derivative financial instruments to manage risk related to fluctuations of interest rates. In case the instruments are eligible for hedge accounting, at the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed at each reporting date to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. All derivatives are recorded on the balance sheet as assets or liabilities and are measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in their fair value is recorded in Accumulated other comprehensive income / (loss) and is subsequently recognized in earnings, under &#147;Interest and finance costs&#148; when the hedged items impact earnings, while the ineffective portion, if any, is recognized immediately in current period earnings under &#147;Gain / (Loss) on derivative financial instruments, net&#148;. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The changes in the fair value of derivatives not qualifying for hedge accounting are recognized in earnings. The Company discontinues cash flow hedge accounting if the hedging instrument expires or is sold, terminated or exercised and it no longer meets all the criteria for hedge accounting or if the Company de-designates the instrument as a cash flow hedge. At that time, any cumulative gain or loss on the hedging instrument recognized in equity remains in equity until the forecasted transaction occurs or until it becomes probable of not occurring. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in earnings. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is reclassified to earnings for the year. Following the hedging designations made during the third quarter of 2014 (Note 19), all of the Company's interest rates swaps effective as of December 31, 2014 were designated as accounting hedges. Only four out of the nine of the Company's interest rate swaps effective as of December 31, 2015 remained designated as accounting hedges as of that date. No hedge accounting was applied in prior periods.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>z)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Recent accounting pronouncements -&#160;not yet adopted:</b></i></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>&#160;</b></i></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Revenue from Contracts with Customers (Topic 606)</b></i>: On May 28, 2014, the FASB issued Accounting Standards Update (&#147;ASU&#148;) 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 (Topic 606)</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-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Presentation of Financial Statements - Going Concern:</b></i> In August 2014, the FASB issued ASU 2014-15, <i>Presentation of Financial Statements - Going Concern</i>. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date when financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. The guidance is effective for annual periods ending after December&#160;15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this ASU is not expected to have a material effect on the Company's consolidated financial statements and accompanying notes.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Simplifying the Presentation of Debt Issuance Costs</b></i>: In April&#160;2015, the FASB issued ASU No. 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 existing 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-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Consolidation (Topic 810) - Amendments to the Consolidation Analysis:</b></i> In February&#160;2015, the FASB issued ASU 2015-02, &#147;Consolidation (Topic 810) - Amendments to the Consolidation Analysis&#148;, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December&#160;15, 2015. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption of ASU 2015-02 on the consolidated financial statements.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Technical Corrections and Improvements</b></i>: In June&#160;2015, FASB issued ASU No. 2015-10, <i>Technical Corrections and Improvements. </i>The amendments in ASU 2015-10 cover a wide range of Topics in the ASC. The amendments in this update 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 ASU 2015-10, 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 ASU 2015-10. The amendments that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, and early adoption of those amendments is permitted, including adoption in an interim period. While the Company has not yet adopted the amendments of ASU 2015-10 that require transition guidance, their adoption is not expected to have a material effect on the Company's financial statements and accompanying notes. &#160;All other amendments were effective upon the issuance of ASU 2015-10. The adoption of those amendments has not had a material effect on the Company's financial statements and accompanying notes. &#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Simplifying the Measurement of Inventory:</b> </i>In July 2015, the FASB issued ASU No. 2015-11, &#147;<i>Simplifying the measurement of inventory</i>&#148;. ASC 330, &#147;Inventory&#148;, 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 ASU 2015-11 require an entity to measure inventory within the scope of ASU 2015-11 at the lower of cost and net realizable value. &#160;For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 are to 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 ASU 2015-11, 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-left: 48.0px;margin-bottom:12.0px;text-indent:96.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Leases: </b></i>In February 2016, the FASB issued Accounting Standards Update No. 2016-02, "Leases (Topic 842)". ASU 2016-02 will apply to both types of leases -&#160;capital (or finance) leases and operating leases. According to the new Accounting Standard, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with term of more than 12 months. ASU 2016 -&#160;02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The Company is currently assessing the impact that adopting this new accounting guidance will have on its consolidated financial statements and footnotes disclosures.</font></div>
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<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">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>3.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Transactions with Related Parties:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Transactions and balances with related parties are analyzed as follows:</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Balance Sheet</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></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:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Assets</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates (d)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">241</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:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">1,209</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Product Shipping &amp; Trading S.A (f)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">4</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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Assets</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>245</b></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 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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1,209</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Liabilities</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interchart Shipping Inc. (a)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">8</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Combine Marine Ltd (c)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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: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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">9</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates (d)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">33</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Management and Directors Fees (b)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;462 </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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">315</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Managed Vessels of Oceanbulk Shipping LLC (e )</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9 </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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">7</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Sellers (Note 17.2) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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;"><font style="font-family:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,689</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;"><font style="font-family:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">50</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Liabilities</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2,166</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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>422</b></font></div></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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:13.3px;"></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:450px;height:16px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:16px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Excel Vessel Bridge Facility -&#160;current portion (h) </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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">8,168</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#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:450px;height:16px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Excel Vessel Bridge Facility -&#160;non current portion (h) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">47,993</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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#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:450px;height:16px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Total Excel Vessel Bridge Facility</b></font><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:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>56,161</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:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</b></font></div></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-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Capitalized Expenses</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:60px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Advances for vessels under construction and acquisition of vessels</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (d)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1,038</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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1,318</font></div></td>
  </tr>
</table>
<div><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="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Statements of Operations</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;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:22px;"><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:53px;"><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: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:22px;"><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:57px;"><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: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:22px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;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:22px;"><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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">2013</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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"><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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">2014</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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;"><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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Commission on sale of vessel-Oceanbulk (d)</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">62 &#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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
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<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(a)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Interchart Shipping Inc. or Interchart: </b>On February 25, 2014, the Company acquired 33% of the total outstanding common stock of Interchart for total consideration of $200 in cash and 22,598 of the Company's common shares. The common shares were issued on April&#160;1, 2014, and the fair value per share of $14.51 was determined by reference to the per share closing price of the Company's common shares on the issuance date. The ownership interest was purchased from an entity affiliated with family members of Company's Chief Executive Officer, including the Company's former director Mrs. Milena-Maria Pappas. This transaction is accounted for as an equity method investment.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February 25, 2014, the Company also entered into a services agreement (the &#147;Services Agreement&#148;) with Interchart, for chartering, brokering and commercial services for all the Company's vessels for an annual fee of &#128;500,000 ($545, using the exchange rate as of December 31, 2015, which was $1.09 per euro). This fee is adjustable for changes in the Company's fleet pursuant to the terms of the Services Agreement. Before the Services Agreement, Interchart acted as chartering broker of all the Company's vessels on an agreed upon basis. Under the Services Agreement, all previously agreed upon brokerage commissions due to Interchart were cancelled retroactively from January 1, 2014.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In November 2014, the Company entered into a new services agreement with Interchart for chartering, brokering and commercial services for all of the Company's vessels for a monthly fee of $275, with a term until March 31, 2015, which upon expiry was immediately renewed until December 31, 2016. The agreement is effective from October 1, 2014, and on the same date the previous agreement dated February 25, 2014, was terminated.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During the years ended December 31, 2013, 2014 and 2015 the brokerage commissions charged by Interchart were $773, $1,997 and $3,350, respectively, and are included in &#147;Voyage expenses&#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had outstanding payables of $6 and $8, respectively, to Interchart.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(b)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Management and Directors Fees: </b>During 2011 the Company entered into consulting agreements with companies owned and controlled by each of the then Chief Executive Officer, Chief Financial Officer and Chief Operating Officer. These agreements had a term of three years unless terminated earlier in accordance with their terms, except for the consultancy agreement with the entity controlled by the Company's then Chief Operating Officer which provided for an indefinite term (terminable by either party with one month's notice). In addition, on May 3, 2013, the Company entered into separate renewal consulting agreements with the companies controlled by the Company's then Chief Executive Officer and Chief Financial Officer. Additionally, pursuant to the aforementioned agreements, the entities controlled by the Company's then Chief Executive Officer and Chief Financial Officer were entitled to receive an annual discretionary bonus, as determined by the Company's Board of Directors in its sole discretion. Finally, the entity controlled by the then Chief Executive Officer was entitled to receive a minimum guaranteed incentive award of 28,000 shares of common stock. These shares vested in three equal annual installments, the first installment of 9,333 shares vested on February 7, 2012, the second installment of 9,333 shares vested on February 7, 2013 and the last installment of 9,334 shares vested on February 7, 2014. The minimum guaranteed incentive award of 28,000 shares of the Company's stock was also renewed as part of the renewal of the consultancy agreement incurred between the Company and the company controlled by the former Chief Executive Officer with the new shares vesting in three equal annual installments, the first installment of 9,333 shares would vest on May 3, 2014, the second installment of 9,333 shares vested on May 3, 2015 and the last installment of 9,334 shares would vest on May 3, 2016.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In connection with the July 2014 Transactions, the Company's former Chief Executive Officer resigned as Chief Executive Officer and remains with the Company as Non-Executive Chairman. On July 31, 2014, the Company entered into an agreement to terminate the consultancy agreement with the company owned by the former Chief Executive Officer and made a severance payment of &#128;664,000 (approximately $891, using the exchange rate as of July 31, 2015, which was $1.34 per euro) of cash and 168,842 common shares, which were issued on the same date. As a result of the termination agreement, the second and the third installments of the former Chief Executive Officer's minimum guaranteed incentive award, under his renewed consultancy agreement, of 9,333 and 9,334, which would have been vested on May 3, 2015 and 2016, respectively, were cancelled. In addition, in connection with the July 2014 Transactions, the then Chief Operating Officer of the Company was appointed as Company's Executive Vice President-Technical.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Following the completion of the Merger, on December 17, 2014, the Company entered into consulting agreements with companies owned and controlled by each one of the new Chief Operating Officer and the new co-Chief Financial Officer. These agreements have a term of three years unless terminated earlier in accordance with their terms. Pursuant to the corresponding agreements, the entities controlled by the new Chief Operating Officer and the new co-Chief Financial Officer are entitled to receive an annual discretionary bonus, as determined by the Company's Board of Directors in its sole discretion. On May 19, 2015, the Company entered into an addendum to the consultancy agreements with the companies owned and controlled by each one of the new Chief Operating Officer and the co-Chief Financial Officers, amending the consultancy fee payable by the Company, effective as of January 1, 2015.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pursuant to all aforementioned agreements, effective as of December 31, 2015, the Company is required to pay an aggregate base fee at an annual rate of not less than $629 (this amount is the sum of all consulting fees in USD and Euro, using the exchange rate as of December 31, 2015, which was $1.09 per euro), under the relevant consultancy agreements.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The expenses related to the Company's executive officers for the years ended December 31, 2013, 2014 and 2015, including the severance cash payment in 2014 to the Company's former Chief Executive Officer were $528, $1,516 and $633, respectively, and are included under &#147;General and administrative expenses&#148; in the accompanying consolidated statements of operations. The related expenses of non-executive directors for the years ended December 31, 2013, 2014 and 2015 were $114, $191 and $160, respectively, and are included under &#147;General and administrative expenses&#148; in the accompanying consolidated statements of operations. As of December&#160;31, 2014 and 2015, the Company had outstanding payables of $462 and $315, respectively, to its executive officers and directors and non-executive directors, representing unpaid consulting fees and unpaid fees for their participation in the Company's Board of Directors and other special committees.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;<b>(c)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Combine Marine Ltd.: </b>On January 1, 2012, Starbulk S.A., entered into a one year lease agreement for office space with Combine Marine Ltd., a company controlled by one of the then Company's directors, Mrs. Milena - Maria Pappas and by Mr. Alexandros Pappas, both of whom are children of Mr. Petros Pappas, the Company's current Chief Executive Officer and then Company's Chairman. The lease agreement provides for a monthly rental of &#128;2,500 (approximately $3, using the exchange rate as of December 31, 2015, which was $1.09 per euro). On January 1, 2013, the agreement was renewed, and, unless terminated by either party, it will expire in January 2024. The related rent expense for the years ended December 31, 2013, 2014 and 2015 was $41, $42 and $35, respectively, and is included under &#147;General and administrative expenses&#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had outstanding receivables of $0 and $9, respectively, from Combine Marine Ltd.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(d)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Oceanbulk Maritime S.A.: </b>Oceanbulk Maritime S.A. (&#147;Oceanbulk Maritime&#148;) is a ship management company controlled by the Company's former director Mrs. Milena-Maria Pappas. During the years ended December 31, 2013, 2014 and 2015, the Company paid to Oceanbulk Maritime a brokerage commission of $90, $0 and $0 relating to the sale of certain of its vessels.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On November 25, 2013, the Company's Board of Directors approved a commission payable to Oceanbulk Maritime with respect to its involvement in the negotiations with the shipyards for nine of the Company's contracted newbuilding vessels (Note 6). The agreement provides for a commission of 0.5% of the shipbuilding contract price for two newbuilding Capesize vessels (HN 1338 (tbn <i>Star Aries</i>) and HN 1339 (<i>Star Taurus</i>)) and three newbuilding Newcastlemax vessels (HN 1342 (tbn <i>Star Gemini</i>), HN 1343 (tbn <i>Star Leo</i>) and HN NE 198 (tbn <i>Star Poseidon</i>)) and a flat fee of $200 per vessel for four newbuilding Ultramax vessels <i>Star Aquarius </i>(ex-HN 5040), <i>Star Pisces </i>(ex-HN 5043), <i>Star Antares </i>(ex-HN NE 196) and HN NE 197 (tbn <i>Star Lutas</i>)), for a total commission of $2,077. The Company agreed to pay the commission in four equal installments. The first two installments were paid in cash, while the remaining two installments will be paid in the form of common shares, the number of which will depend on the price of the Company's common shares on the date of the two remaining installments. The first and the second installments of $519, each, were paid in cash in December 2013 and in April 2014, respectively. On October 28, 2015, the Company issued 171,171 shares representing the third installment, the fair value per share was determined by reference to the per share closing price of the Company's common shares on the issuance date. An amount of $1,038 and $280 was capitalized to &#147;Advances for vessel under construction and acquisition of vessels&#148; during the years ended December 31, 2014 and 2015, respectively. The last installment is due in April 2016.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 22, 2014, Starbulk S.A. entered into an agreement with Oceanbulk Maritime, under which certain management services, including crewing, purchasing, arranging insurance, vessel telecommunications and master general accounts supervision, were provided to certain dry bulk vessels under the management of Oceanbulk Maritime up to December 31, 2014. Pursuant to the terms of this agreement, Starbulk S.A. received a fixed management fee of $0.17 per day, per vessel, which as of June 1, 2014, was changed to $0.11 per day, per vessel, based on an addendum signed on May 22, 2014. The related income for the year ended December 31, 2014, was $188 and was included under &#147;Management fee income&#148; in the accompanying consolidated statement of operations.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, prior to the Merger, Oceanbulk and the Pappas Companies had entered into a management agreement with Oceanbulk Maritime and its affiliates pursuant to which Oceanbulk Maritime provided commercial and administrative services to Oceanbulk and the Pappas Companies. Following the completion of the Merger on July 11, 2014, this management agreement with Oceanbulk Maritime was terminated. </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Further, following the completion of the Merger and the Pappas Transaction, the Company owns the vessels <i>Magnum Opus</i> and <i>Tsu Ebisu</i>, which were managed by Oceanbulk Maritime prior to the Merger and continued to be managed by Oceanbulk Maritime after the Merger, until September and August 2014, respectively. The related expense for the year ended December 31, 2014, was $158 and is included under &#147;Management fee expense&#148; in the accompanying consolidated statement of operations. </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Maritime provided performance guarantees under the bareboat charter agreements relating to the shipbuilding contracts for the vessels <i>Roberta </i>(ex-HN 1061), <i>Laura </i>(ex-HN 1062), <i>Idee Fixe</i> (ex-HN 1063) and <i>Kaley (</i>ex-HN 1064). Such performance guarantees had been counter-guaranteed by Oceanbulk Carriers. Following the completion of the Merger, in September, 2014, Star Bulk provided counter-guarantees to Oceanbulk Maritime S.A. in exchange for the counter-guarantees provided by Oceanbulk Carriers. The vessels were delivered to the Company in 2015.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, Oceanbulk Maritime also provided performance guarantees under the shipbuilding contracts for the vessels <i>Deep Blue </i>(ex-HN 5017), HN 5055-JMU (tbn <i>Behemoth</i>), HN 5056-JMU (tbn <i>Megalodon</i>), <i>Honey Badger </i>(ex-HN NE 164), <i>Wolverine </i>(ex-HN NE 165), <i>Gargantua </i>(ex-HN NE 166), <i>Goliath </i>(ex-HN NE 167) and <i>Maharaj </i>(ex-HN NE 184). Prior to the Merger, all of the performance guarantees were counter-guaranteed by Oceanbulk Shipping. Following the completion of the Merger, on September 20, 2014 Star Bulk provided counter-guarantees to Oceanbulk Maritime in exchange for the counter-guarantees provided by Oceanbulk Shipping. These vessels were delivered to the Company in early 2016 at which time the aforementioned guarantees terminated. </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As of December 31, 2014 and 2015, the Company had outstanding receivables of $241 and $1,209 from Oceanbulk Maritime and its affiliates, respectively. The outstanding balance as of December 31, 2015 includes an amount of $850, which represents supervision cost for certain newbuilding vessels managed by Oceanbulk Maritime and paid by the Company. In addition, as of December 31, 2015 the Company had an outstanding payable of $33 to Oceanbulk Maritime and its affiliates. </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(e)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Managed vessels of Oceanbulk Shipping:</b> Prior to the Merger,<b> </b>Starbulk S.A. had entered into vessel management agreements with certain ship-owning companies owned and controlled by Oceanbulk Shipping (Note 1). Pursuant to the terms of these agreements, Starbulk S.A. received a fixed management fee of $0.75 per day, per vessel. These management agreements were terminated on July 11, 2014, the date the Merger closed. The related income for the years ended December 31, 2013 and 2014, was $823 and $1,390, respectively, and is included under &#147;Management fee income&#148; in the accompanying consolidated statements of operations. As of December 31, 2014 and 2015, the Company had an outstanding payable of $9 and $7, respectively, to Maiden Voyage LLC, previous owner of the vessel <i>Maiden Voyage, </i>one of the vessels of Oceanbulk Shipping<i>.</i> </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(f)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Product Shipping &amp; Trading S.A.: </b>Product Shipping &amp; Trading S.A. is an entity controlled by family members of the Company's ex-Chairman and current Chief Executive Officer, Mr. Petros Pappas. On June 7, 2013, Starbulk S.A. entered into an agreement with Product Shipping &amp; Trading S.A., under which the Company provided certain management services including crewing, purchasing and arranging insurance to the vessels under the management of Product Shipping &amp; Trading S.A. Pursuant to the terms of this agreement, Starbulk S.A. received a fixed management fee of $0.13 per day, per vessel. In October, 2013 the Company decided to gradually cease providing the above mentioned services to the vessels managed by Product Shipping &amp; Trading S.A., except for arranging insurance services, and as a result, the management fee decreased to $0.02 per day, per vessel, and effective July 1, 2014, the agreement was terminated. The related income for the years ended December 31, 2013 and 2014 was $242 and $62, respectively, and is included under &#147;Management fee income&#148; in the accompanying consolidated statement of operations. As of December 31, 2014 and 2015, the Company had outstanding receivables of $4 and $0, respectively, from Product Shipping &amp; Trading S.A.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(g)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Oaktree Shareholder Agreement</b>: As a result of the Merger, on July 11, 2014, Oaktree became the beneficial owner of approximately 61.3% of the Company's then outstanding common shares. At the closing of the July 2014 Transactions, the Company and Oaktree entered into a shareholders agreement (the &#147;Oaktree Shareholders Agreement&#148;). Under the Oaktree Shareholders Agreement, Oaktree has the right to nominate four of the Company's nine directors so long as it beneficially owns 40% or more of the Company's outstanding voting securities. The number of directors able to be designated by Oaktree is reduced to three directors if Oaktree beneficially owns 25% or more but less than 40% of the Company's outstanding voting securities, to two directors if Oaktree beneficially owns 15% or more but less than 25%, and to one director if Oaktree beneficially owns 5% or more but less than 15%. Oaktree's designation rights terminate if it beneficially owns less than 5% of the Company's outstanding voting securities. Therefore, in July&#160;2014 and in connection with the July 2014 Transactions, the Company's Board of Directors, increased the number of directors constituting the Board of Directors to nine and, following the resignation of Mrs. Milena - Maria Pappas, appointed Mr. Rajath Shourie, Ms. Emily Stephens, Ms. Ren&#233;e Kemp and Mr. Stelios Zavvos as directors. Following these changes in the composition of the Board of Directors, the four individuals designated by Oaktree to be Company's directors were Messrs. Pappas and Shourie and Mses. Stephens and Kemp in accordance with the provisions of the Oaktree Shareholders Agreement. On February 17, 2015, Mr. Shourie and Ms. Stephens were replaced by Mr. Mahesh Balakrishnan and Ms. Jennifer Box, respectively. As further disclosed in Note 20, on March 14, 2016, Ms. Ren</font><font style="font-family:Calibri;font-size:13.3px;color:#222222; ">&#233;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">e Kemp stepped down from the Company's Board of Directors. The three directors currently designated by Oaktree are Messrs. Pappas and Balakrishnan and Ms. Box, while Oaktree retains the right to name an additional director under the Oaktree Shareholders Agreement. Under the Oaktree Shareholders Agreement, with certain limited exceptions, Oaktree effectively cannot vote more than 33% of the Company's outstanding common shares (subject to adjustment under certain circumstances).</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(h)</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Excel Transactions: </b>As discussed in detail in Note 1, on August 19, 2014, the Company entered into the Excel Transactions. The principal shareholders of Excel are Oaktree and Angelo Gordon, none of which though, on its own, is deemed to have control on Excel's strategy and operations either by means of holding equity interests, control of Excel's board of directors or other type of arrangement indicating a parent-subsidiary relationship. Therefore the Company concluded that the Excel Transactions were not transactions under common control. Nevertheless, due to Oaktree's relationship with the Company and the relationship of Oaktree to Excel, the Company concluded that the Excel Transactions, including the acquisition of the Excel Vessels and the conclusion of the Excel Vessel Bridge Facility (Note 8), should be treated as related party transactions for purposes of its financial statements presentation and disclosure. The Excel Vessel Bridge Facility was fully repaid in January 2015. Interest expense incurred for the years ended December 31, 2014 and 2015, amounted to $1,659 and $220, respectively.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(i)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Acquisition of Heron Vessels: </b>Following the completion of the Merger, pursuant to the provisions of the Merger Agreement relating to the Heron Vessels, and in accordance with the agreement among Oceanbulk Shipping, ABY Group and Heron, dated September 5, 2014, with respect to the conversion of the Heron Convertible Loan, the governance of Heron and the distribution of some of its vessels to its investors, as further discussed in Note 1, on November 11, 2014, the Company entered into two separate agreements to acquire from Heron the vessels <i>Star Gwyneth (ex-ABYO Gwyneth</i>) and <i>Star Angelina (ex-ABYO Angelina)</i>, which were delivered to the Company on December 5, 2014 (Note 5).</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:5.0px;text-indent:-41.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(j)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Management agreement with Maryville Maritime Inc.</b>: Three of the Excel Vessels (<i>Star Martha (ex Christine)</i>, <i>Star Pauline (ex Sandra)</i> and <i>Star Despoina (ex Lowlands Beilun)</i>, which were acquired with attached time charters, were managed by Maryville Maritime Inc. (&#147;Maryville&#148;), a subsidiary of Excel. As described in Note 3.h above, due to Oaktree's relationship with Excel, the Company concluded that the management agreement with Maryville should be treated as a related party transaction for purposes of its financial statements presentation and disclosure. Maryville managed two of the vessels until August 2015 and one until November 2015, when each of their existing time charters expired. The Company paid Maryville a monthly fee of $17.5 per vessel. Total management fee expense to Maryville for the years ended December 31, 2014 and 2015 was $35 and $451, respectively and is included in &#147;Management fees&#148; in the accompanying consolidated statements of operations.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph b<br> -Article 3A<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6626071840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>4. &#160;&#160;&#160;&#160;&#160;&#160;Inventories: </b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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;margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">7,438</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,809</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>14,247</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Calibri;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 );">- 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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<td><strong> Name:</strong></td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 6<br> -Subparagraph a, b, c<br> -Article 5<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6598387264">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>5.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Vessels and other fixed assets, net:</b></font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>&#160;</b></i></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:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Cost</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,641,603</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,025,688</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other fixed assets</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-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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,683</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-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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,810</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total cost</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,643,286</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,027,498</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Accumulated depreciation</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-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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(201,435</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><font style="font-family:Calibri;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:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(269,946</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessels and other fixed assets, net</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1,441,851</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1,757,552</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>&#160;</b></i></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed during the year ended December 31, 2013</b></i></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 14, 2013, the Company entered into an agreement with a third party to sell the vessel <i>Star Sigma</i>. The vessel was delivered to its buyers on April 10, 2013. The resulted loss from this sale of $87 is included under &#147;Loss on sale of vessel&#148; in the accompanying consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On November 5, 2013, the Company entered into two agreements to acquire from two unaffiliated third parties, one 61,462 dwt Ultramax vessel, <i>Star Challenger</i>, built 2012 and one 61,455 dwt Ultramax vessel, <i>Star Fighter</i>, built 2013. The vessels were delivered to the Company on December 12, 2013 and December 30, 2013, respectively. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed during the year ended December 31, 2014</b></i></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 98,000 dwt Post-Panamax vessels, <i>Star Vega</i> and <i>Star Sirius</i>, built 2011. The vessels <i>Star Vega</i> and <i>Star Sirius</i>, were delivered to the Company on February 13, 2014 and March 7, 2014, respectively. The vessels, upon their delivery, were chartered back to Glocal for a daily rate of $15, at least until June 2016.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Following the completion of the Merger and the Pappas Transaction discussed in Note 1, the Company became the owner of 13 operating vessels (refer to relevant table in Note 1), the fair value of which following the purchase price allocation was estimated at $426,000 (based on Level 2 inputs of the fair value hierarchy). In addition, on July 22, 2014 and on September 19, 2014, the Company took delivery of the vessels <i>Peloreus </i>and <i>Leviathan</i>, respectively, two Capesize vessels with a capacity of 182,000 dwt each, built by the Japan Marine United Corporation, or JMU shipyard. The newbuilding contracts for those vessels had been acquired by the Company as part of the Merger. The delivery installment payment of $34,625 for each vessel was partially financed by $32,500 drawn for each vessel under a loan facility with Deutsche Bank AG (Note 8), and the remaining amount of $2,125, for each vessel, was financed by existing cash.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pursuant to the Excel Transactions discussed in Note 1, as of December 31, 2014, 28 out of the 34 Excel Vessels had been transferred to the Company, for an aggregate consideration of 25,659,425 common shares (based on Level 1 inputs of the fair value hierarchy) and $248,751 in cash, or a total cost of $501,535, including time charters attached (Note 7). The Company used cash on hand, together with borrowings under various credit facilities, to pay the cash consideration for the Excel Vessels, as further discussed in Note 8.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As further discussed in Note 3, on November 11, 2014, the Company entered into two separate agreements with Heron to acquire the vessels <i>Star Gwyneth </i>(<i>ex-ABYO Gwyneth</i>) and <i>Star Angelina </i>(<i>ex-ABYO Angelina</i>), which were delivered to the Company on December 5, 2014. The cost for the acquisition of these vessels was determined based on the fair value of the 2,115,706 common shares issued on July 11, 2014, in connection with the Heron Transaction, of $25,080 (Level 1) and the amount of $25,000 financed by the Heron Vessels Facility (Note 8), according to the provisions of the Merger Agreement with respect to these acquisitions, as further discussed in Note 17.2.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December 17, 2014, the Company entered into an agreement with a third party to sell the vessel <i>Star Kim</i>, one of the Excel Vessels, at market terms which also approximated the vessel's net book value. The vessel did not meet the 'held-for-sale' classification criteria as of December 31, 2014, as it was not considered available for immediate sale in its present condition. &#160;The sale was completed on January 21, 2015 when the vessel was delivered to its new owner. As of December 31, 2014, the Company had received an advance payment from the buyers amounting to $1,100, which is included under &#147;Advances from sale of vessel&#148; in the accompanying consolidated balance sheet as of December 31, 2014. </font></div>
<div style="text-align:justify;margin-top:8.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed during the year ended December 31, 2015</b></i></font></div>
<div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Delivery of newbuilding vessels:</i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(i) &#160;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 (Note 8). </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(ii) &#160;&#160;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 the <i>Honey Badger</i> and the <i>Wolverine</i> under the Sinosure Facility (Note 8). </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(iii) &#160;&#160;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 with Jiangsu Yangzijiang Shipbuilding Co. Ltd. (&#147;New Yangzijiang&#148;). As further discussed below, the Company accounts for these bareboat charter agreements as capital leases.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(iv) &#160;&#160;On April 2, 2015, the Company took delivery of the Newcastlemax vessel <i>Gargantua</i> (ex-HN 166). On July 15, 2015, the Company took delivery of the Newcastlemax vessels Goliath (ex-HN 167) and Maharaj (ex-HN 184). The delivery installments of $113,046 were partially financed by $93,000 drawn down under the DNB-SEB-CEXIM $227,500 Facility (Note 8), and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(v) &#160;&#160;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 (Note 8), and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(vi) &#160;&#160;On July 22, 2015 and on August 7, 2015, the Company took delivery of the Ultramax vessels <i>Star Aquarius</i> (ex-HN 5040) and <i>Star Pisces</i> (ex-HN5043). The delivery installments of $20,359 and $20,351, respectively, were partially financed by $15,237 drawn under the NIBC $32,000 Facility (Note 8) for each vessel, and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(vii) &#160;&#160;On October 9, 2015, the Company took delivery of the Ultramax vessel <i>Star Antares</i> (ex-HN 196). The delivery installment of $19,770 was partially financed by $16,738 drawn under the Sinosure Facility (Note 8), and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During the year ended December 31, 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:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Sale of vessels</i>:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During 2015 and early 2016, the Company entered into various separate agreements with third parties to sell 16 of the Company's vessels (<i>Star Big, Star Mega, Maiden Voyage, Star Natalie, Star Tatianna, Star Christianna, Star Monika, Star Julia, Star Nicole, Rodon, Star Claudia, Indomitable, Magnum Opus, Tsu Ebisu, Deep Blue and Obelix)</i>. Of these vessels, 12 were delivered to their purchasers in 2015, while the remaining four (<i>Indomitable, Magnum Opus, Tsu Ebisu, and Deep Blue</i>) were delivered to their purchasers in 2016 (Note 20). None of these four vessels met the 'held-for-sale' classification criteria as of December 31, 2015, as none of them were considered available for immediate sale in their present condition at that date. In addition, as discussed above, in late December 2014 the Company agreed to sell the vessel <i>Star Kim</i>, which was delivered to its owner in early 2015. As part of these sales (other than the sale of the vessel <i>Maiden Voyage</i> which is separately discussed below), the Company recognized a net loss on sale of $20,585, which is separately reflected in the accompanying statement of operations for the year ended December 31, 2015. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 (currently named <i>Astakos</i>) was leased back to the Company under a time charter for two years. The vessel was delivered to its new owner on September 15, 2015 and the Company became the charterer of the vessel on the same date. The lease back did not meet the lease classification test for a capital lease and is accounted for as operating lease. Pursuant to the applicable accounting guidance for sale and lease back transactions, the net gain from the sale of <i>Maiden Voyage</i> of $148 was deferred and is being amortized in straight line over the lease term. The net book value of this deferred gain as of December 31, 2015 is $126 and is reflected within &#147;Other non-current liabilities&#148; in the accompanying consolidated balance sheet, while amortization of this deferred gain as of December 31, 2015 is $22 and is included within &#147;Charter-In Hire expenses&#148; in the accompanying consolidated statement of operations.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Capital leases</i>:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;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, is &#160;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 year ended December 31, 2015. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Based on applicable accounting guidance, the Company determined that the bareboat charters should be classified as capital leases. As a result, in accordance with the applicable capital lease accounting guidance, the Company recorded a financial liability and a financial asset equal to the present value of the minimum lease payments at the time of the vessel's delivery, when the term of the lease was deemed to begin. The net book value of these vessels (which includes the upfront fees paid by the Company until the delivery of the vessel, net of accumulated depreciation) recorded as of December 31, 2015 is reflected within &#147;Vessels and other fixed assets, net&#148; in the accompanying consolidated balance sheet. The charge resulting from amortization of these leased assets is included within &#147;Depreciation expense&#148; in the accompanying consolidated statement of operations. &#160;The interest expense on the financial liability related to these capital leases as of December 31, 2015 was $3,088 and is included within &#147;Interest and finance costs&#148; in the accompanying consolidated statement of operations. As of December 31, 2015 the net book value of the vessels was $120,992, with accumulated amortization of $3,056. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The principal payments required to be made after December 31, 2015, for the outstanding capital lease obligations, 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:338px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Years</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">11,437</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">12,370</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;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:Calibri;font-size:13.3px;color:#000000; ">51,832</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>101,559</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excluding bareboat interest </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">22,039</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total lease commitments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>79,520</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Lease commitments -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">4,490</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">75,030</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Impairment Analysis</b></i></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As a result of the decline in charter rates and vessel values during the previous years and since market expectations for future rates were low and vessel values were unlikely to increase to the high levels of 2008, the Company reviewed the recoverability of the carrying amount of its vessels in 2013, 2014 and 2015.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company's impairment analysis for 2013 and 2014 indicated that the carrying amount of the Company's vessels was recoverable, and therefore the Company concluded that no impairment charge was necessary. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As part of the sales agreed in 2015 and 2016, as discussed above and in Notes 6 and 20 below, the Company recognized an impairment loss of $219,400. In addition, in light of the continued economic downturn and the prevailing conditions in the shipping industry, as of December 31, 2015, the Company performed an impairment analysis for each of its operating vessels and newbuildings whose carrying value was above its market value. Based on the Company's impairment analysis framework described in Note 2(n) above, the future undiscounted projected net operating cash flows for certain of its vessels over their operating life were below their carrying value. In estimating each vessel's projected cash flows, the Company also took into consideration the possibility of a sale of certain additional operating vessels and newbuildings (with a net book value as of December 31, 2015 of $119,591), to the extent that attractive sale prices will be attainable. After completing its impairment analysis, the Company recognized an additional impairment loss of $102,578.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The total impairment charge for the year ended December 31, 2015 is separately reflected in the accompanying consolidated statement of operations (Note 19).</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:96.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000;">&#160;</font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825700784">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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_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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<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-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>6.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Advances for vessels under construction and</b> <b>acquisition of vessels:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pre-delivery yard installments and 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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;408,870 </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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;65,009 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Bareboat capital leases -&#160;upfront hire &amp; handling fees</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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;">&#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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;54,428 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,301 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other capitalized costs (Note 3)</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;">&#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,172 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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;"><font style="font-family:Calibri;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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;79 </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:Calibri;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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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;">&#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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;">&#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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;127,910 </b></font></div></td>
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<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As summarized in the relevant table of Note 1, as of December 31, 2015, the Company was party to 19 newbuilding contracts or lease arrangements (as further discussed below) for the construction of dry bulk carriers of various types, 11 of which were assumed as part of the Merger and the Pappas Transaction. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In 2015, the Company entered into separate agreements with third parties to sell upon their delivery from the shipyard the newbuilding vessels <i>Behemoth,</i> <i>Bruno Marks, Jenmark, Star Aries</i> and <i>Star Taurus</i>. The first two of these vessels were delivered to purchasers in January 2016, upon their delivery to the Company, while the remaining three will be delivered by the end of April 2016. In early 2016, the Company entered into an agreement to sell upon its delivery from the shipyard the newbuilding vessel <i>Megalodon</i> (ex-HN 5056). The vessel was delivered to its new owners in January 2016. None of these vessels met the 'held-for-sale' classification criteria as of December 31, 2015, as none of them was considered available for immediate sale in its present condition at that date. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During 2015 and in early 2016 the Company reached an agreement in principle with certain shipyards to defer the delivery and reduce the purchase price of certain newbuilding vessels. The estimated delivery dates disclosed in the tables of Note 1 take effect of these negotiations. These agreements are subject to execution of final documentation by both parties. The aggregate agreed reduction to the purchase price was $64,508. In addition, an amount of $187,695, regarding capital expenditures due in 2016, was deferred to 2017 and 2018. Taking into effect the outcome of these negotiations, as of December 31, 2015, the total aggregate remaining contracted price for the 19 newbuilding vessels plus agreed extras was $619,223, of which $431,527 is payable during the next twelve months ending December 31, 2016, and the remaining $113,366 and $74,330 is payable during the years ending December 31, 2017 and 2018, respectively. An amount of $84,600, $77,100 and $38,400, respectively, will be financed through bareboat capital lease arrangements, as discussed below, the commitments of that are reflected in Note 17.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Capital leases</i></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 &#147;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 $43,200 and $40,000, respectively, 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.<sup> </sup>In addition, the Company will pay an 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 due one year later was paid in 2015. 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 $12,960 and $12,000, 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.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, following the completion of the Merger and the Pappas Transactions the Company also assumed bareboat charters with respect to five newbuilding vessels being built at SWS for subsidiaries of Oceanbulk at the time of the Merger. On December 27, 2013, subsidiaries of Oceanbulk 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. As of December 31, 2015, the Company expects that only three of these vessels will still be delivered. 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 ranging from $40,000, to $43,200 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. In addition, the Company will pay for the three newbuilding vessels an aggregate amount of $1,008 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 ranging from $12,000 to $12,960. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the three vessels.</font></div>
<div style="text-align:justify;margin-bottom:5.0px;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-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;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, $15,669 paid up to December 31, 2015, representing upfront hire and handling fees for the newbuilding vessels, including those vessels delivered during this period, has been capitalized and is included under &#147;Advances for vessels under construction and acquisition of vessels&#148;. 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. 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:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On August 31, 2015, the Company entered into a non-binding term sheet for the sale of one of its newbuilding contract (HN 1343 (tbn <i>Star Leo</i>)) and a 10-year lease back arrangement with CSSC, in order to finance up to $40,000 for the vessel's delivery installment. The final agreements, which include the memorandum of agreement and bareboat lease agreement, are expected to be signed in March 2016. Pursuant to the terms of the bareboat charter, the Company will pay a fixed bareboat charter hire rate payable monthly plus a variable amount. In addition, the Company will also pay $500 representing handling fees in two installments. Under the terms of the bareboat charter, the Company has the option to purchase the vessel at any time, such option being exercisable on a monthly basis against pre-determined, amortizing-during-the-charter-period prices, while it has a respective obligation of purchasing the vessel at the expiration of the bareboat term at a purchase price of $12,060. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charter, the Company will own the vessel. Based on applicable accounting guidance, the Company determined that the bareboat charter for HN 1343 (tbn <i>Star Leo</i>) should be classified at the time of the beginning of the lease (i.e. at the delivery of the vessel expected in January 2018) as capital lease. The Company is deemed to retain substantially all of the benefits and risks incident to the ownership of the sold vessel. Accordingly, the sale-leaseback transaction is merely a financing and will be accounted for as such upon the delivery of the vessel. </font></div>
<div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During the year ended December 31, 2015, the Company agreed to reassign the leases for two newbuilding vessels back to the vessels' owner for a one-time refund to the Company of $5,800 each.<sup> </sup></font></div>
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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>
<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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<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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<td style="white-space:nowrap;">sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6626835952">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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 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-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-left: 48.0px;text-indent:-48.0px;"><font style="font-family:Calibri;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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During 2011, the Company acquired two second-hand Capesize vessels, <i>Star Big</i> and <i>Star Mega</i>, with existing time charter contracts. Upon their delivery, the Company evaluated the attached charter contracts by comparing the charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels were delivered and recognized an asset of $23,065. 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 terminated early, and the unamortized balance of $2,114, at June 30, 2015, was written-off. Such amount is reflected under &#147;Loss on time charter agreement termination&#148; in the accompanying consolidated statement of operations for the year ended December 31, 2015. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As part of the Merger in July 2014, a $1,967 intangible asset was recognized corresponding to a fair value adjustment for two favorable time charters under which Oceanbulk was the lessor at the time of acquisition, with respect to vessels <i>Amami </i>and <i>Madredeus,</i> as further discussed in Note 1.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, for three Excel Vessels <i>Star Martha (ex Christine)</i>, <i>Star Pauline (ex Sandra)</i> and <i>Star Despoina (ex Lowlands Beilun)</i>, which were transferred to the Company subject to existing charters, the Company recognized an asset of $8,076, since it determined that the respective charters were favorable comparing to the existing charter rates.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">For the years ended December 31, 2013, 2014 and 2015, the amortization of fair value of the above market acquired time charters amounted to $6,352, $6,113 and $9,540, respectively, and is included under &#147;Voyage revenues&#148; in the accompanying consolidated statements of operations. The accumulated amortization of these above market time charters as of December 31, 2014 and 2015 was $21,200 and $30,740, respectively.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The carrying amount of the above market acquired time charters amounting to $254 as of December 31, 2015 will be amortized on a straight line basis to revenues through the end of the corresponding charter parties, over a weighted-average period of 0.28 years 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:269px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Year</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:196px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:196px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">254</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:196px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>254</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000;"><b>&#160;</b></font></div>
<div style="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 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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825570928">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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_LongTermDebtTextBlock', window );">Long-term Debt:</a></td>
<td class="text"><div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>8. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Long-term debt: </b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>T</b>he table below presents outstanding amounts under the Company's bank loans and notes as of December 31, 2014 and 2015:</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:397px;height:13px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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;"><font style="font-family:Calibri;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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Commerzbank $120,000 and $26,000 facilities</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">74,680</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;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:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">44,417</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">54,968</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">51,028</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">12,800</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">29,600</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">22,047</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">33,187</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">30,771</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">36,660</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">33,540</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">ABN $87,458 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">76,689</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">55,158</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Deutsche Bank $85,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">82,708</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">77,042</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">HSBC $86,600 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">83,490</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">77,270</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">CEXIM $57,360 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">HSBC $20,000 Dioriga Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">19,300</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">17,900</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">NIBC $32,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">29,966</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">BNP $32,480 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">32,480</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">30,331</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excel Vessel Bridge Facility </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">56,161</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">DVB $24,750 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">24,750</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">21,150</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excel Vessel CiT Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">30,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Sinosure Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">52,165</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Citi Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">51,478</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">80,554</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Heron Vessels Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">24,567</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">21,589</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">DNB $120,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">88,275</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">98,051</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">DVB $31,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">27,727</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">91,032</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8.00% 2019 Notes</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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;50,000 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:23px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>861,793</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:Calibri;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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>911,738</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>a)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Commerzbank $120,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December 27, 2007, the Company entered into a loan agreement with Commerzbank AG for up to $120,000, in order to partially finance the acquisition cost of the vessels, <i>Star Gamma</i>, <i>Star Delta</i>, <i>Star Epsilon</i>, <i>Star Zeta</i>, and <i>Star Theta</i> (the &#147;Commerzbank $120,000 Facility&#148;). The Commerzbank $120,000 Facility is secured by a first priority mortgage over the financed vessels. &#160;The Commerzbank $120,000 Facility was amended in June and December 2009. &#160;As amended, the Commerzbank $120,000 Facility had two tranches. &#160;One tranche of $50,000 was repayable in 28 consecutive quarterly installments, which commenced in January 2010, consisting of (i) the first four installments of $2,250 each, (ii) the next 13 installments of $1,000 each and (iii) the remaining 11 installments of $1,300 each, with a final balloon payment of $13,700 payable along with the last installment. &#160;The second tranche of $70,000 was repayable in 28 consecutive quarterly installments, which commenced in January 2010, consisting of (i) the first four installments of $4,000 each and (iii) the remaining 24 installments of $1,750 each, with a final balloon payment of $12,000 payable together with the last installment. &#160;The repayment schedule was modified to make the entire amount outstanding under the Commerzbank $120,000 Facility payable in October, 2016, as described further below under &#147;Supplemental Agreements -&#160;Commerzbank $120,000 and $26,000 Facilities.&#148; </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>b)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Commerzbank $26,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On September 3, 2010, the Company entered into a loan agreement with Commerzbank AG for up to $26,000 in order to partially finance the acquisition cost of the vessel, <i>Star Aurora</i> (the &#147;Commerzbank $26,000 Facility&#148;)<i>.</i> The Commerzbank $26,000 Facility was secured by a first priority mortgage over the financed vessel. &#160;As described below, under &#147;Supplemental Agreements - Commerzbank $120,000 and $26,000 Facilities,&#148; the Commerzbank $26,000 was fully repaid in June 2015.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;Restructuring Agreement - Commerzbank $120,000 and $26,000 Facilities</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December&#160;17, 2012, the Company executed a commitment letter with Commerzbank to amend the Commerzbank $120,000 Facility and the Commerzbank $26,000 Facility. The definitive documentation for the supplemental agreement (the &#147;Commerzbank Supplemental&#148;) was signed on July&#160;1, 2013. Pursuant to the Commerzbank Supplemental, the Company paid Commerzbank a flat fee of 0.40% of the combined outstanding loans under the two facilities and agreed, subject to certain conditions, to (i) amend some of the covenants governing the two facilities, (ii)&#160;prepay an amount of $2,000, pro rata against the balloon payments of each facility, (iii)&#160;raise $30,000 in equity (which condition was satisfied after the completion of the Company's rights offering in July 2013 (Note 9)) and (iv)&#160;increase the loan margins. In addition, Commerzbank agreed to defer 60% and 50% of the quarterly installments for the years ended December&#160;31, 2013 and 2014 (the &#147;Deferred Amounts&#148;), to the balloon payments or to a payment in accordance with a semi-annual cash sweep mechanism; under which all earnings of the mortgaged vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, will be used as repayment of the Deferred Amounts. The Company was not permitted to pay any dividends as long as Deferred Amounts are outstanding and/or until original terms are complied with. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 30, 2015, the Company and Commerzbank AG signed a second supplemental agreement (the &#147;Commerzbank Second Supplemental&#148;). Under the Commerzbank Second Supplemental, the Company agreed to (i)&#160;prepay an amount of $3,000, (ii)&#160;amend some of the covenants governing this facility, and (iii) change the repayment date for the Commerzbank $26,000 Facility from September 7, 2016 to July 31, 2015. The Company fully repaid the Commerzbank $26,000 Facility in June 2015, and the vessels <i>Star Aurora</i> and <i>Star Zeta</i> were released from the vessel mortgage.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company and Commerzbank AG signed a third supplemental agreement (the &#147;Commerzbank Third Supplemental&#148;). Under the Commerzbank Third Supplemental, the Company and Commerzbank AG agreed to (i) defer the installment payments under the Commerzbank $120,000 Facility, until the full repayment in late October, 2016, (ii) add as additional collateral the vessel <i>Star Iris, </i>and<i> </i>(iii)&#160;amend some of the covenants governing this facility (Note 20).</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>c)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Credit Agricole $70,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On January&#160;20, 2011, the Company entered into a loan agreement with Credit Agricole Corporate and Investment Bank for a term loan up to $70,000 (the &#147;Credit Agricole $70,000 Facility&#148;)<i> </i>to partially finance the construction cost of the two newbuilding vessels, <i>Star Borealis</i> and <i>Star Polaris, </i>which were delivered to the Company in 2011. The Credit Agricole $70,000 Facility is secured by a first priority mortgage over the financed vessels and is divided into two tranches. The Company drew down $67,275 under this facility. The Credit Agricole $70,000 Facility is repayable in 28 consecutive quarterly installments, commencing three months after the delivery of each vessel, of $485.4 and $499.7, respectively, and a final balloon payment payable at maturity, of $19,558.2 (due August&#160;2018) and $20,134 (due November&#160;2018) for the <i>Star Borealis</i> and <i>Star Polaris </i>tranches, respectively.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a waiver letter with Credit Agricole Corporate and Investment Bank in order to revise some of the covenants contained in the loan agreement for a period up to December 31, 2016.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>d)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>ABN AMRO Bank N.V. $31,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July&#160;21, 2011, the Company entered into a senior secured credit facility with ABN AMRO Bank N.V. the &#147;ABN AMRO&#148;) for $31,000 (the &#147;ABN AMRO $31,000 Facility&#148;), to partially finance the acquisition cost of the vessels <i>Star Big</i> and <i>Star Mega</i>. The ABN AMRO $31,000 Facility was secured by a first priority mortgage over the financed vessels. The borrowers under the ABN AMRO $31,000 Facility were the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. was the guarantor. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March&#160;16, 2012, the Company and ABN AMRO amended the ABN AMRO $31,000 Facility under a first supplemental agreement (the &#147;ABN $31,000 First Supplemental&#148;). On April&#160;2, 2013, the Company and ABN AMRO signed a second supplemental agreement (the &#147;ABN $31,000 Second Supplemental&#148; and, together with the ABN First Supplemental, the &#147;ABN $31,000 Supplementals&#148;). Under the ABN $31,000 Supplementals, the Company agreed, subject to certain conditions, to (i) revise the covenants governing this facility until December&#160;31, 2014, (ii)&#160;not pay dividends until December&#160;31, 2014 and (iii)&#160;increase the margin by 50 bps, beginning on March&#160;31, 2013, until the time the Company was able to raise at least $30,000 of additional equity (which condition was satisfied after the completion of the Company's rights offering in July 2013 (Note 9)).</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 31, 2015, the Company and ABN AMRO signed a third supplemental agreement (the &#147;ABN $31,000 Third Supplemental&#148;) and agreed to revise certain covenants governing this facility. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>e)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>HSH Nordbank AG $64,500 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On October&#160;3, 2011, the Company entered into a $64,500&#160;secured term loan agreement (the &#147;HSH Nordbank $64,500&#160;Facility&#148;) with HSH Nordbank AG (&#147;HSH Nordbank&#148;) to repay, together with cash on hand, certain existing debt. The borrowers under the HSH Nordbank $64,500&#160;Facility are the vessel-owning subsidiaries that own the vessels <i>Star Cosmo, Star Kappa, Star Sigma, Star Omicron</i> and <i>Star Ypsilon</i>, and Star Bulk Carriers Corp. is the guarantor. This facility consists of two tranches. The first tranche of $48,500 (the &#147;Supramax Tranche&#148;) is repayable in 20 quarterly consecutive installments of $1,250 commencing in January&#160;2012 and a final balloon payment of $23,500 payable at the maturity, in September, 2016. The second tranche of $16,000 (the &#147;Capesize Tranche&#148;) was repayable in 12 consecutive, quarterly installments of $1,333, commencing in January&#160;2012 and matured in September&#160;2014.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July 17, 2013, the Company and HSH Nordbank signed a supplemental agreement (the &#147;HSH Nordbank $64,500 Supplemental&#148;). Under the HSH Nordbank $64,500&#160;Supplemental, the Company agreed, subject to certain conditions, to (i) amend some of the covenants governing this facility until December 31, 2014, (ii) defer a minimum of approximately $3,500 payments from January&#160;1, 2013 until December&#160;31, 2014, (iii)&#160;prepay an amount of $6,590 with pledged cash already held by HSH Nordbank, (iv)&#160;raise $20,000 in equity (which condition was satisfied after the completion of the Company's rights offering in July 2013, (Note 9), (v) increase the loan margins from January 1, 2013 until December 31, 2014, (vi)&#160;include a semi-annual cash sweep mechanism, under which all earnings of the mortgaged vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be used as prepayment to the balloon payment of the Supramax Tranche, and (vii)&#160;not pay any dividends until December&#160;31, 2014 or later in case of a covenant breach. When the Company sold the vessel <i>Star Sigma </i>in April&#160;2013, the HSH Nordbank $64,500 Supplemental also required the Company to use the proceeds from the sale to fully prepay the balance of the Capesize Tranche and use the remaining vessel sale proceeds &#160;to prepay a portion of the Supramax Tranche. As a result, the next seven scheduled quarterly installments commencing in April 2013 were reduced pro rata according to the prepayment from $813 to $224. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company and HSH Nordbank signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016. </font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>f)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>HSH Nordbank AG $35,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February&#160;6, 2014, the Company entered into a new $35,000 secured term loan agreement (the &#147;HSH Nordbank $35,000 Facility&#148;) with HSH Nordbank AG. The borrowings under this new loan agreement were used to partially finance the acquisition cost of the vessels <i>Star Challenger </i>and <i>Star Fighter.</i> The HSH Nordbank $35,000 Facility is secured by a first priority mortgage over the financed vessels. The borrowers under the HSH Nordbank $35,000 Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. is the guarantor. This facility matures in February&#160;2021 and is repayable in 28 equal, consecutive, quarterly installments, commencing in May&#160;2014, of $312.5 and $291.7 for the <i>Star Challenger</i> and <i>Star Fighter</i>, respectively, and a final balloon payment of $8,750 and $9,332.4, payable together with the last installments, for <i>Star Challenger </i>and <i>Star Fighter,</i> respectively.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company and HSH Nordbank signed a supplemental agreement to amend certain covenants governing this facility until December 31, 2016. </font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>g)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Deutsche Bank AG $39,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March&#160;14, 2014, the Company entered into a $39,000 secured term loan agreement with Deutsche Bank AG (the &#147;Deutsche Bank $39,000 Facility&#148;). The borrowings under this loan agreement were used to partially finance the acquisition cost of the vessels <i>Star Sirius</i> and <i>Star Vega. </i>The Deutsche Bank $39,000 Facility is secured by a first priority mortgage over the financed vessels. The borrowers under the Deutsche Bank $39,000 Facility are the two vessel-owning subsidiaries that own the two vessels and Star Bulk Carriers Corp. is the guarantor.<i> </i>This facility consists of two tranches of $19,500 each and matures in March&#160;2021. Each tranche is repayable in 28 equal, consecutive, quarterly installments of $390 each commencing in June&#160;2014, and a final balloon payment of $8,580 payable at maturity.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company entered into a supplemental letter with Deutsche Bank AG to amend certain covenants governing this facility until December 31, 2016. </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-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>h)</b></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;</b></font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>ABN $87,458 Facility</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On August&#160;1, 2013, Oceanbulk Shipping entered into a $34,458 credit facility with ABN AMRO, N.V. (the &#147;ABN AMRO $87,458 Facility&#148;) in order to partially finance the acquisition cost of the vessels <i>Obelix</i> and <i>Maiden Voyage</i>. The loans under the ABN AMRO $87,458 Facility were available in two tranches of $20,350 and $14,108. On August&#160;6, 2013, Oceanbulk Shipping drew down the available tranches. On December&#160;18, 2013, the ABN AMRO $87,458 Facility was amended to add an additional loan of $53,000 to partially finance the acquisition cost of the vessels <i>Big Bang, Strange Attractor, Big Fish</i> and<i> Pantagruel</i>. On December&#160;20, 2013, Oceanbulk Shipping drew down the available tranches. The tranche under the ABN AMRO $87,458 Facility relating to vessel <i>Obelix</i> matures in September&#160;2017, the one relating to vessel <i>Maiden Voyage </i>matures in August&#160;2018 and those relating to vessels <i>Big Bang, Strange Attractor, Big Fish and Pantagruel, </i>mature in December&#160;2018. The tranches are repayable in quarterly consecutive installments ranging between $248 to $550 and a final balloon payment for each tranche at maturity, ranging between $2,500 and $12,813. The ABN AMRO $87,458 Facility is secured by a first-priority ship mortgage on the financed vessels and general and specific assignments and was guaranteed by Oceanbulk Shipping LLC. Following the completion of the Merger, Star Bulk Carriers Corp. replaced Oceanbulk Shipping as guarantor of the ABN AMRO $87,458 Facility. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a supplemental letter with ABN AMRO to amend certain covenants governing this facility until December 31, 2016. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In August 2015, the tranche relating to the vessel <i>Maiden Voyage </i>was fully repaid, following the sale of the vessel (Note 5). </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In January 2016, the Company entered into an agreement with a third party to sell the vessel <i>Obelix</i>, which is expected to be delivered to its new owners by April 2016. In connection with this sale, the tranche relating to the vessel <i>Obelix</i> is expected to be repaid. </font></div>
<div style="margin-top:8.0px;text-indent:53.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>i) &#160;&#160;&#160;&#160;&#160;&#160;Deutsche Bank $85,000 Facility</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On May&#160;20, 2014, Oceanbulk Shipping entered into a loan agreement with Deutsche Bank AG Filiale Deutschlandgeschaft for the financing of an aggregate amount of $85,000 (the &#147;Deutsche Bank $85,000 Facility&#148;), in order to partially finance the construction cost of the newbuilding vessels <i>Magnum Opus</i>, <i>Peloreus </i>and<i> Leviathan</i>. Each tranche matures five years after the drawdown date. The applicable tranches were drawn down concurrently with the deliveries of the financed vessels, in May, July&#160;and September&#160;2014, respectively. Each tranche is subject to 19 quarterly amortization payments equal to 1/60th of the tranche amount, with the 20th payment equal to the remaining amount outstanding on the tranche. The Deutsche Bank $85,000 Facility is secured by first priority cross-collateralized ship mortgages on the financed vessels, and general and specific assignments and was originally guaranteed by Oceanbulk Shipping. On July&#160;4, 2014, an amendment to the Deutsche Bank $85,000 Facility was executed in order to add ITF International Transport Finance Suisse AG as a lender. On November 4, 2014, a supplemental letter was signed to replace Oceanbulk Shipping with Star Bulk Carriers Corp. as guarantor of this facility.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a supplemental letter with Deutsche Bank AG Filiale Deutschlandgeschaft to amend certain covenants governing this facility until December 31, 2016. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In March 2016, the tranche relating to the vessel <i>Magnum Opus </i>was fully repaid, following the sale of the respective vessel (Note 20).</font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;j) &#160;&#160;&#160;&#160;&#160;&#160;HSBC $86,600 Facility</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June&#160;16, 2014, Oceanbulk Shipping entered into a loan agreement with HSBC Bank plc. (the &#147;HSBC $86,600 Facility&#148;) for the financing of an aggregate amount of $86,600, to partially finance the acquisition cost of the second hand vessels <i>Kymopolia</i>, <i>Mercurial Virgo</i>, <i>Pendulum</i>, <i>Amami</i> and <i>Madredeus</i>. The loan, which was drawn in June&#160;2014, matures in May&#160;2019 and is repayable in 20 quarterly installments, commencing three months after the drawdown, of $1,555 plus a balloon payment of $55,500 due together with the last installment. The HSBC $86,600 Facility is secured by a first priority mortgage over the financed vessels and general and specific assignments and was originally guaranteed by Oceanbulk Shipping. On September&#160;11, 2014, a supplemental agreement to the HSBC $86,600 Facility was executed in order to replace Oceanbulk Shipping with Star Bulk Carriers Corp. as guarantor of the HSBC $86,600 Facility.</font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>k)&#160;&#160;&#160;&#160;&#160;&#160;HSBC $20,000 Dioriga Facility</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On April&#160;14, 2014, Dioriga Shipping Co. entered into a loan agreement with HSBC Bank plc (the &#147;HSBC $20,000 Dioriga Facility&#148;) for $20,000 to partially finance the construction cost of the vessel <i>Tsu Ebisu</i>, which was delivered in April&#160;2014. The HSBC $20,000 Dioriga Facility matures in March&#160;2019 and is repayable in 20 quarterly installments of $350 each, commencing three months after the drawdown, plus a balloon payment of $13,000 due together with the last installment. The HSBC $20,000 Dioriga Facility is secured by a first priority mortgage over the financed vessel and general and specific assignments. On October&#160;3, 2014, a supplemental agreement to the HSBC $20,000 Dioriga Facility was executed in order for Star Bulk Carriers Corp. to become the guarantor of the HSBC $20,000 Dioriga Facility and to include covenants similar to those of the Company's other vessel financing facilities.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 30, 2015, the Company entered into second supplemental agreements with HSBC Bank plc to amend certain covenants included in the HSBC $86,600 Facility and HSBC $20,000 Dioriga Facility until December 31, 2016. In addition, the Company agreed to provide a first priority cross collateralized mortgage over the financed vessels of the HSBC $86,600 Facility and the financed vessel of the HSBC $20,000 Dioriga Facility.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In December 2015, the Company entered into separate agreement with third party to sell the vessel <i>Tsu Ebisu</i> (Note 20) and therefore the Dioriga $20.0 million Facility was fully repaid in January 2016.</font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;l) &#160;&#160;&#160;&#160;&#160;&#160;CEXIM $57,360 Facility</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June&#160;26, 2014, Oceanbulk Shipping entered into a loan agreement with the Export-Import Bank of China (the &#147;CEXIM $57,360 Facility&#148;) for the financing of an aggregate amount of up to $57,360, which will be available in two tranches of $28,680 each, to partially finance the construction cost of the two newbuilding Vessels <i>Bruno Marks</i> (ex-HN 1312) delivered in January 2016 and HN 1313 (tbn <i>Jenmark</i>), with expected delivery in March 2016.&#160; Each tranche will mature ten years from the delivery of the last delivered financed vessel and is repayable in 20 semi-annual installments of $1,147 plus a balloon payment of $5,736, with the first installment being due on the first January&#160;21 or July&#160;21, six months after the delivery of each vessel. In December 2015, the Company entered into separate agreements with third parties to sell the newbuilding vessels <i>Bruno Marks and Jenmark, </i>upon their delivery to the Company (Note 6) and therefore the CEXIM $57,360 Facility was terminated without being drawn.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>m)&#160;&#160;&#160;&#160;&#160;&#160;NIBC $32,000 Facility:</b></font></div>
<div style="text-align:justify;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On November&#160;7,&#160;2014, the Company and NIBC Bank N.V. entered into an agreement with respect to a credit facility (the &#147;NIBC $32,000 Facility&#148;) for the financing of an aggregate amount of up to $32,000, which is available in two tranches of $16,000, to partially finance the construction cost of two newbuilding vessels, <i>Star Aquarius</i> (ex-HN 5040) and <i>Star Pisces</i> (ex-HN 5043). An amount of $15,237 for each vessel was drawn in July and August 2015, concurrently with the delivery of the respective vessels to the Company. Each tranche is repayable in consecutive quarterly installments of $255, commencing three months after the drawdown of each tranche, plus a balloon payment of $9,633 and $9,888, for each of the two vessels, both due in November 2020. The NIBC $32,000 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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a supplemental letter with NIBC Bank N.V to amend certain covenants governing this facility until December 31, 2016. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;n)&#160;&#160;&#160;&#160;&#160;&#160;BNP $32,480 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December 3, 2014, Positive Shipping Company, a subsidiary of Star Bulk following the completion of the Pappas Transaction, and BNP Paribas entered into an agreement with respect to a credit facility (the &#147;BNP $32,480 Facility&#148;) for the financing of up to $32,500 to partially finance the construction cost of its newbuilding vessel <i>Indomitable</i> (ex-HN 5016). An amount of $32,480 was drawn in December 2014, in anticipation of the delivery of the <i>Indomitable</i> to the Company on January 8, 2015. The facility is repayable in 20 equal, consecutive, quarterly principal payments of $537.2 each, with the first becoming due and payable three months from the drawdown date and a balloon installment of $21,737 payable simultaneously with the 20<sup>th </sup>installment, which is due in December 2019. The BNP $32,480 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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July 3, 2015, the Company signed a supplemental letter with BNP Paribas to amend certain covenants governing this facility from June 30, 2015 until December 31, 2016. </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:Calibri;font-size:13.3px;color:#000000; ">In December 2015, the Company entered into separate agreement with third party to sell the vessel <i>Indomitable.</i> In connection with this sale, the BNP $32.48 million Facility is expected to be repaid in March 2016 along with the delivery of the vessel to its new owners.. &#160;</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>o)&#160;&#160;&#160;&#160;&#160;&#160;Excel Vessel Bridge Facility (Note 3 and Note 20):</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On August 19, 2014, the Company, through Unity Holdings LLC (&#147;Unity&#148;), a fully owned subsidiary, entered into a $231,000 Senior Secured Credit Agreement, among Unity, as Borrower, the initial lenders named therein, as Initial Lenders, affiliates of Oaktree and Angelo Gordon as Lenders, and Wilmington Trust National Association, as Administrative Agent. The Company used borrowings under the Excel Vessel Bridge Facility to fund portion of the cash consideration for the Excel Vessels. The Excel Vessel Bridge Facility would mature in February 2016, with mandatory repayments of $6,000, each due in March, June and September 2015. Unity, Star Bulk, and each individual vessel-owning subsidiary of Unity were guarantors under the Excel Vessel Bridge Facility. As of December 31, 2014 an amount of $195,914 had been drawn under the Excel Vessel Bridge Facility, of which an amount of $139,753 was prepaid from proceeds from the Citi Facility and the DNB $120,000 Facility (discussed below), with such prepayment being applied in direct order of maturity according to the provisions of the Excel Vessel Bridge Facility.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As of December 31, 2014, the classification of the Excel Vessel Bridge Facility, in the accompanying balance sheet was made according to the repayment schedules of the Citi Facility and DNB $120,000 Facility. On January 29, 2015, the Company fully prepaid and terminated the Excel Vessel Bridge Facility.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>p)&#160;&#160;&#160;&#160;&#160;&#160;DVB $24,750 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On October 30, 2014, the Company and DVB Bank SE, Frankfurt entered into an agreement with respect to a credit facility (the &#147;DVB $24,750 Facility&#148;), to partially finance the acquisition of 100% of the equity interests of Christine Shipco LLC, which is the owner of the vessel&#160;<i>Star Martha</i>&#160;(ex-Christine), one of the 34 Excel Vessels. On October&#160;31, 2014, the Company drew $24,750 to pay Excel the related cash consideration. The DVB $24,750 Facility is repayable in 24 consecutive, quarterly principal payments of $900 for each of the first four quarters and of $450 for each of the remaining 20 quarters, with the first becoming due and payable three months from the drawdown date, and a balloon payment of $12,150 payable simultaneously with the last quarterly installment, which is due in October&#160;2020. The DVB $24,750 Facility is secured by a first priority pledge of the membership interests of the Christine Shipco LLC and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a supplemental letter with DVB Bank SE, Frankfurt to amend certain covenants governing this facility until December 31, 2016. </font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>q)&#160;&#160;&#160;&#160;&#160;&#160;Excel Vessel CiT Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December&#160;9, 2014, the Company entered into a credit facility with CiT Finance LLC (the &#147;Excel Vessel CiT Facility&#148;) for an amount up to $30,000 to partially finance the acquisition of 11 of the older Excel Vessels. The Excel Vessel CiT Facility is secured on a first-priority basis by these 11 financed vessels, which consist of nine Panamax and two Handymax vessels (the &#147;Excel Collateral Vessels&#148;). Pursuant to an intercreditor agreement executed among the lenders under the Excel Vessel Bridge Facility and Excel Vessel CiT Facility, the Excel Collateral Vessels also secured the Excel Vessel Bridge Facility on a second-priority basis. On December&#160;10, 2014, the Company drew $30,000 under the Excel Vessel CiT Facility. The borrowers under the Excel Vessel CiT Facility were the various vessel-owning subsidiaries that own the Excel Collateral Vessels and Star Bulk Carriers Corp. was the guarantor. The Excel Vessel CiT Facility would mature in December&#160;2016 and was subject to quarterly amortization payments of $500, commencing on March&#160;31, 2015, with a balloon payment equal to the outstanding amount under the Excel Vessel CiT Facility payable simultaneously with the last quarterly installment.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 10, 2015, the Company fully repaid the Excel Vessel CiT Facility.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>r)&#160;&#160;&#160;&#160;&#160;&#160;Sinosure Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December 22, 2014, the Company executed a binding term sheet with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc (the &#147;Sinosure Facility&#148;) for the financing of an aggregate amount of up to $156,453 to partially finance the construction cost of eight newbuilding vessels, <i>Honey Badger (ex-HN NE 164)</i>, Wolverine (ex-HN NE 165), Star Antares (ex-HN NE 196), <i>Star Lutas</i> (ex-HN NE 197), HN 1080 (tbn <i>Kennadi</i>), HN 1081 (tbn <i>Mackenzie</i>), HN 1082 (tbn <i>Night Owl</i>) and HN 1083 (tbn <i>Early Bird</i>) (the &#147;Sinosure Financed Vessels&#148;). The financing under the Sinosure Facility is available in eight separate tranches, one for each Sinosure Financed Vessel, and is credit insured (95%) by China Export &amp; Credit Insurance Corporation. The final loan documentation for the Sinosure Facility was signed on February 11, 2015. Each tranche, which is documented by a separate credit agreement, matures twelve years after each drawdown date and is repayable in 48 equal and consecutive quarterly installments. The Sinosure Facility is secured by a first priority cross collateralized mortgage over the Sinosure Financed Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp. &#160;The vessels <i>Honey Badger</i> and <i>Wolverine</i> were delivered to the Company in February 2015. The vessel <i>Star Antares </i>was delivered to the Company in<i> </i>October 2015<i>. </i>The vessels<i> Star Lutas </i>and <i>Kennadi</i> were delivered to the Company in early January 2016 and the vessel <i>Mackenzie</i> was delivered to the Company in March 2016 (Note 20)<i>.</i></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On September 2, 2015, the Company signed a supplemental letter agreement with Deutsche Bank (China) Co., Ltd. Beijing Branch and HSBC Bank plc to amend certain covenants governing the existing credit agreements from June 26, 2015 until December 31, 2016. </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>s)&#160;&#160;&#160;&#160;&#160;&#160;Citi Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December&#160;22, 2014, the Company entered into a credit facility with Citibank, N.A., London Branch (the &#147;Citi Facility&#148;) to provide financing in an amount of up to $100,000, in lieu of the Excel Vessel Bridge Facility, in connection with the acquisition of vessels <i>Star Pauline (ex-Sandra)</i>, <i>Star Despoina (ex-Lowlands Beilun)</i>, <i>Star Angie</i>, <i>Star Sophia</i>, <i>Star Georgia</i>, <i>Star Kamila</i> and <i>Star Nina,</i> which are seven of the Excel Vessels the Company has acquired (the &#147;Citi Financed Excel Vessels&#148;). The first tranche of $51,477.5 was drawn on December&#160;23, 2014, and the second tranche of $42,627.5 was drawn on January&#160;21, 2015. The Company used amounts drawn under the Citi Facility to repay portion of the Excel Vessel Bridge Facility in respect of those Citi Financed Excel Vessels. The Citi Facility matures on December&#160;30, 2019. The Citi Facility is repayable in 20 equal, consecutive, quarterly principal payments of $3,388, with the first installment due on March&#160;30, 2015 and a balloon installment of $26,349 payable simultaneously with the 20<sup>th</sup> quarterly installment. The Citi Facility is secured by a first priority mortgage over the Citi Financed Excel Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 30, 2015, the Company signed a supplemental Agreement with Citibank, N.A., London Branch to amend certain covenants governing this agreement until December 31, 2016. </font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>t)&#160;&#160;&#160;&#160;&#160;&#160;Heron Vessels Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In November 2014, the Company entered into a secured term loan agreement with CiT Finance LLC (the &#147;Heron Vessels Facility&#148;), in the amount of $25,311, in order to partially finance the acquisition cost of the two Heron Vessels, <i>Star Gwyneth</i> and <i>Star Angelina</i>. The drawdown of the financed amount incurred in December 2014, when the Company took delivery of the Heron Vessels. The facility matures on June 30, 2019, and is repayable in 19 equal consecutive, quarterly principal payments of $744.4 (with the first becoming due and payable on December 31, 2014), and a balloon installment payable at maturity equal to the then outstanding amount of the loan. The facility is secured by a first priority mortgage over the financed vessels and general and specific assignments and is guaranteed by Star Bulk Carrier Corp.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July 1, 2015, the Company signed a supplemental letter with CiT Finance LLC to amend certain covenants governing this agreement from June 30, 2015 until December 31, 2016 and to add the vessel <i>Star Aline</i> as collateral under this agreement.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>u)&#160;&#160;&#160;&#160;&#160;&#160;DNB $120,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On December 29, 2014, the Company entered into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA, NIBC Bank N.V and Skandinaviska Enskilda Banken AB as original lenders, mandated lead arrangers and hedge counterparties (the &#147;DNB $120,000 Facility&#148;), to provide financing for up to $120,000, in lieu of the Excel Vessel Bridge Facility, in connection with the acquisition of vessels <i>Star Nasia</i>, <i>Star Monisha</i>,<i> Star Eleonora</i>,<i> Star Danai</i>, <i>Star Renee</i>, <i>Star Markella</i>, <i>Star Laura</i>, <i>Star Moira</i>, <i>Star Jennifer</i>, <i>Star Mariella</i>, <i>Star Helena</i> and <i>Star Maria,</i> which are 12 of the Excel Vessels the Company has acquired (the &#147;DNB Financed Excel Vessels&#148;). The Company drew $88,275 on December 30, 2014, $9,515 in January, 2015, $9,507 in February 2015 and $7,769 in April 2015. The Company used amounts drawn under the DNB $120,000 Facility to repay portion of the amounts drawn under the Excel Vessel Bridge Facility relating to the DNB Financed Excel Vessels. The DNB $120,000 Facility matures in December&#160;2019 and is repayable in 20 equal, consecutive, quarterly principal payments of $4,374, with the first installment due in March&#160;2015, and a balloon installment of $29,160 payable simultaneously with the 20th installment. The DNB $120,000 Facility is secured by a first priority mortgage over the DNB Financed Excel Vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a supplemental letter with the lenders under this facility to amend certain covenants governing this agreement until December 31, 2016. </font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>v)&#160;&#160;&#160;&#160;&#160;&#160;DVB $31,000 Facility:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On May 21, 2015, the Company entered into an agreement with DVB Bank SE (the &#147;DVB $31,000 Facility&#148;) for up to $31,000 to partially finance the construction cost of the newbuilding vessel <i>Deep Blue</i> (ex-HN 5017). The Company drew $28,680 in May 2015, upon the vessel's delivery to the Company. The facility is repayable 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 24th installment in May 2021. The DVB $31,000 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. In March 2016, this facility was fully repaid following the sale of the vessel <i>Deep Blue</i> (Note 20).</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>w)&#160;&#160;&#160;&#160;&#160;&#160;BNP $39,500 Facility: </b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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 <i>Megalodon</i> (ex-HN5056) and the 2004-built Panamax vessel <i>Star Emily</i>. The loan agreement was executed on September 14, 2015 (the &#147;BNP $39,500 Facility&#148;). In early 2016, the Company entered into an agreement to sell the newbuilding vessel <i>Megalodon</i> (ex-HN5056) upon its delivery to the Company (Note 6), and the loan agreement was terminated without having been drawn.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>x)&#160;&#160;&#160;&#160;&#160;&#160;DNB-SEB-CEXIM $227,500 Facility</b>: </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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 cost of seven newbuilding vessels, <i>Gargantua</i> (ex-HN166), <i>Goliath</i> (ex-HN167), <i>Maharaj</i> (ex-HN184), HN1338 (tbn <i>Star Aries</i>), HN1339 (tbn <i>Star Taurus</i>), HN1342 (tbn <i>Star Gemini</i>) and HN198 (tbn <i>Star Poseidon</i>). The financing is &#160;available in seven separate tranches, one for each newbuilding vessel. The first tranche of $32,400 and the second and third tranche of $30,300 each were drawn, upon the delivery of the vessels <i>Gargantua, Goliath </i>and <i>Maharaj </i>in 2015. The fourth tranche of $23,400 was drawn, upon the delivery of the vessel <i>Star Poseidon</i> in February 2016 (Note 20). The tranches are repayable in 24 quarterly consecutive installments ranging between $367 and $508, with the first becoming due and payable three months from the drawdown date of each tranche and a final balloon installment for each tranche, ranging between $14,587 million and $20,198 million, payable simultaneously with the 24th&#160;installment. 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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 29, 2015, the Company signed a supplemental letter with the lenders under this facility to amend certain covenants governing this facility until December 31, 2016. </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:Calibri;font-size:13.3px;color:#000000; ">Following the sale of the <i>Star Aries</i> and the <i>Star Taurus</i> (Note 20), the Company will not draw down on two tranches under this facility.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>y)&#160;&#160;&#160;&#160;&#160;&#160;Issuance of the 8.00% 2019 Notes:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On November&#160;6, 2014, the Company issued $50,000 aggregate principal amount of 8.00% Senior Notes due 2019 (the &#147;2019 Notes&#148;). The net proceeds were $48,425. The 2019 Notes mature in November&#160;2019 and are senior, unsecured obligations of Star Bulk Carriers Corp. The 2019 Notes are not guaranteed by any of the Company's subsidiaries.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The 2019 Notes bear interest at a rate of 8.00% per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on February 15, 2015.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company may redeem the 2019 Notes, in whole or in part, at any time on or after November&#160;15, 2016 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Prior to November&#160;15, 2016, the Company may redeem the 2019 Notes, in whole or in part, at a price equal to 100% of their principal amount plus a make-whole premium and accrued and unpaid interest to the date of redemption. In addition, the Company may redeem the 2019 Notes in whole, but not in part, at any time, at a redemption price equal to 100% of their principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, if certain events occur involving changes in taxation.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The indenture governing the 2019 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee or the holders of not less than 25% in aggregate principal amount of the 2019 Notes then outstanding may declare the entire principal amount of all the 2019. Notes plus accrued interest, if any, to be immediately due and payable. Upon certain change of control events, the Company is required to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. If the Company receives net cash proceeds from certain asset sales and does not apply them within a specified deadline, the Company will be required to apply those proceeds to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>z)&#160;&#160;&#160;&#160;&#160;&#160;Credit Facility Covenants:</b> </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company's outstanding credit facilities generally contain customary affirmative and negative covenants, on a subsidiary level, including limitations to:</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;incur additional indebtedness, including the issuance of guarantees;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;create liens on its assets;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;change the flag, class or management of its vessels or terminate or materially amend the management agreement relating to each vessel;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;sell its vessels;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;merge or consolidate with, or transfer all or substantially all its assets to, another person; or</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;enter into a new line of business.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 (i) $200,000 or (ii) $2,000 per fleet vessel. 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 occurred and is continuing or would result from such dividend or distribution.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;a minimum percentage of aggregate vessel value to loans secured (security cover ratio or &#147;SCR&#148;);</font></div>
<div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;a maximum ratio of total liabilities to market value adjusted total assets;</font></div>
<div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;a minimum EBITDA to interest coverage ratio;</font></div>
<div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;a minimum liquidity; and</font></div>
<div style="margin-left: 24.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#149;&#160;&#160;&#160;&#160;&#160;&#160;a minimum equity ratio</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-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As of December 31, 2014 and 2015, the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $150,000, respectively, which is included within &#147;Cash and cash equivalents&#148; in the accompanying balance sheets. In addition, as of December 31, 2014 and 2015, the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,997, respectively, which is included within &#147;Restricted cash&#148; current and non-current , in the accompanying balance sheets. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As of December 31, 2015, as a result of market conditions, the market value of certain of the Company's vessels was below the minimum SCR required under certain loan agreements. A SCR shortfall does not automatically trigger the acceleration of the corresponding loans or constitute a default under the relevant loan agreements. Under these loan agreements, the Company may remedy an SCR shortfall within a period of 10 to 30 days after it receives notice from the lenders by providing additional collateral or repaying the amount of the shortfall. The Company has not received any notices from the relevant lenders that would indicate their intention to exercise their rights under the SCR provisions of the relevant loan agreements and cause acceleration of respective outstanding loan amounts. As of December 31, 2015, $14,268 which was the amount that could be made repayable under the SCR provisions by the lenders (or &#147;SCR Shortfall Amount&#148;), was reclassified as current portion of long term debt within current liabilities. Apart from this, as of December 31, 2014 and 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.&#160;</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The weighted average interest rate related to the Company's existing debt (including the margin) as of December 31, 2013, 2014 and 2015 was 3.34%, 3.53 % and 3.69 %, respectively. The commitment fees incurred during the years ended December 31, 2014 and 2015, with regards to the Company's unused credit facilities were $637 and $3,157, respectively.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The principal payments required to be made after December 31, 2015, for all the then outstanding debt, are as follows:</font></div>
<div style="text-align:justify;margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Years</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:30px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2016</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">112,873</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2017</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">87,826</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2018</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">184,886</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2019</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">326,573</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2020</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">53,620</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2021 and thereafter</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">145,960</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total (including 8.00% 2019 Notes)</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>911,738</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:16px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excluding 8.00% 2019 Notes </font></div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;">&#160;</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:30px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Long term debt</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>861,738</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:505px;height:15px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:49px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:505px;height:15px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" colspan="3" style=" border:solid #000000 0.0px;width:49px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:33px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td style="width:466px;"></td>
    <td style="width:38px;"></td>
    <td style="width:7px;"></td>
    <td style="width:30px;"></td>
    <td style="width:11px;"></td>
    <td style="width:33px;"></td>
    <td style="width:49px;"></td>
    <td style="width:52px;"></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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The amount of $112,873, which is payable during the next twelve months ending December 31, 2016, does not include the SCR Shortfall Amount of $14,268, which was reclassified as current portion of long term debt as described above. At December 31, 2015, 61 of the Company's 70 owned vessels, having a net carrying value of $1,559,339, were subject to first-priority mortgages as collateral to its loan facilities.<sup> </sup>In addition four of the Company's bareboat vessels, having a net carrying value of $121,010, were cross-collateral under the Company's bareboat lease agreements.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:239px;height:13px;"><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:72px;"><div style="text-align:center;text-indent:0.0px;">&#160;</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;">&#160;</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <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;height:14px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></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;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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;">&#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:28px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interest on long term debt </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-indent:13.3px;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,786 &#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:Calibri;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-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">15,362 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:28px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">35,969 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Less: Interest capitalized </font></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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(633) &#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: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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(7,838) &#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:solid #000000 0.0px;width:28px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(12,079) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:39px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#151;</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,055 &#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,416 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Amortization of deferred finance charges </font></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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">522 &#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: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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">681 &#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:solid #000000 0.0px;width:28px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,732 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">139 &#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:Calibri;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:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">315 &#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:Calibri;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:28px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">623 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:21px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>6,814</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>9,575</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:Calibri;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:28px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>29,661</b></font></div></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:96.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In connection with the partial prepayment of Excel Vessel Bridge Facility, $652 of unamortized deferred finance charges were written off and included under &#147;Loss on debt extinguishment&#148; in the accompanying consolidated statement of operations for the year ended December 31, 2014. In addition, 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 were written off and included under &#147;Loss on debt extinguishment&#148; in the accompanying consolidated statement of operations for the year ended December 31, 2015.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:96.0px;"></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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_LongTermDebtTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825668768">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Preferred, Common Stock and Additional paid in capital<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</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_StockholdersEquityNoteAbstract', window );"><strong>Preferred, Common Stock and Additional paid in capital [Abstract]</strong></a></td>
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<td class="text"><div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>9.&#160;&#160;&#160;&#160;&#160;&#160;Preferred, Common Stock and Additional paid in capital:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Preferred Stock: </b>Star Bulk is authorized to issue up to 25,000,000 shares of preferred stock, $0.01 par value with such designations, as voting, and other rights and preferences, as determined by the Board of Directors. As of December 31, 2014 and 2015 the Company had not issued any preferred stock.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Common Stock: </b>Star Bulk was authorized to issue 100,000,000 registered common shares, par value $0.01. On November 23, 2009, at the Company's annual meeting of shareholders, the Company's shareholders voted to approve an amendment to the Amended and Restated Articles of Incorporation increasing the number of common shares that the Company is authorized to issue from 100,000,000 registered common shares, par value $0.01 per share, to 300,000,000 registered common shares, par value $0.01 per share.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Each outstanding share of the Company's common stock entitles the holder to one vote on all matters submitted to a vote of shareholders. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of shares of common stock are entitled to ratably receive all dividends, if any, declared by the Company's Board of Directors out of funds legally available for dividends. Holders of common stock do not have conversion, redemption or preemptive rights to subscribe to any of the Company's securities. All outstanding shares of common stock are fully paid and non-assessable. The rights, preferences and privileges of holders of shares of common stock are subject to the rights of the holders of any shares of preferred stock which the Company may issue in the future.</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July 25, 2013, pursuant to a rights offering, approved by the Company's Board of Directors in April 2013, the Company issued 15,338,861 shares of common stock, which resulted in net proceeds of $77,898 after deducting offering expenses of $2,167. The proceeds were primarily used for orders for fuel-efficient dry bulk vessels with some of the proceeds being reserved for working capital and general corporate purposes.</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On October 7, 2013, the Company offered 8,050,000 common shares, in a primary underwritten public offering price of $8.80 per share less underwriters' discount. The sale of shares by the Company resulted in net proceeds of $68,124 after deducting offering expenses of $2,716. The Company used the net proceeds from this offering for the partial funding of newbuilding vessels, for vessel acquisitions, and for general corporate purposes.</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As disclosed in Note 13 below, during the year ended December 31, 2013, the Company issued: (i) 239,333 common shares in connection with its 2013 Equity Incentive Plan; (ii) 12,000 common shares, which were granted to a former director of the Company; and (iii) 18,667 common shares to the former Chief Executive Officer of the Company, representing the second and the third installments of his minimum guaranteed incentive award in accordance with his consultancy agreement (Note 3).</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In July 2014, the Company issued as consideration 54,104,200 common shares in the July 2014 Transactions, consisting of 48,395,766 common shares for the Merger, 3,592,728 common shares for the acquisition of the Pappas Companies and 2,115,706 common shares as partial consideration for the acquisition of the Heron Vessels (Note 1).</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As disclosed in Note 3 above, 22,598 common shares were issued during the year ended December 31, 2014, 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-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As disclosed in Note 13 below, during the year ended December 31, 2014, the Company issued: (i) 394,167 common shares in connection with its 2014 Equity Incentive Plan; (ii) 8,000 common shares, which were granted to certain directors of the Company; (iii) 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; and (iv) 168,842 the Company's former Chief Executive Officer pursuant to a termination agreement dated July 31, 2014 (Note 3).</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;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. As of December 31, 2015, the Company had issued all shares, out of which 25,659,425 common shares were issued in 2014 as part of the Excel Vessel Share Consideration and the remaining 4,257,887 shares were issued in 2015 (Note 1 and Note 5).</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 $242,211.</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;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-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As disclosed in Note 3 above, 171,171 common shares were issued during the year ended December 31, 2015, as consideration for the third installment payable to Oceanbulk Maritime S.A. as commission for the shipbuilding contracts of certain of the Company's newbuilding vessels.</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Calibri;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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825588368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operational gain<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div style="margin-left: 48.0px;margin-top:7.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>10.&#160;&#160;&#160;&#160;&#160;&#160;Other operational gain:</b></font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">For the year ended December 31, 2013, other operational gain totaled $3,787, mainly consisting of $2,500 and $177 paid to the Company, in connection with the settlement of two commercial claims (Note 17.1 (a) and (b)) and $1,030 regarding a gain from a hull and machinery claim.</font></div>
<div style="text-align:justify;margin-top:7.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On June 28, 2013, the Company received a letter from the receivers of STX Pan Ocean Co. Ltd., or STX, terminating the charter agreement for the vessel <i>Star Borealis</i>, effective immediately. <i>Star Borealis</i> was on time charter at an average gross daily charter rate of $24.75 for the period from September 11, 2011 until July 11, 2021. On September 11, 2014, Star Bulk agreed the settlement of a claim for damages and due hire brought by its subsidiary, Star Borealis LLC (&#147;Star Borealis&#148;) arising from the repudiation of the long-term time charter by charterer STX, which claim had been filed with the Seoul Central District Court, Korea, (the &#147;Settled Claim&#148;). Star Borealis negotiated, sold and assigned the rights to the Settled Claim to an unrelated third party for consideration of $8,016, which was received on October 3, 2014. The Company recorded in 2014 a gain of approximately $9,377 including the extinguishment of a $1,361 liability related to the amount of fuel and lubricants remaining on board of the vessel <i>Star Borealis</i> at the time of the charter repudiation.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, other operational gain for the year ended December 31, 2014, includes $456 relating to a gain from a hull and machinery insurance claim and a gain from a protection and indemnity claim, as well as $170 relating to a rebate from the Company's previous manning agent.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">For the year ended December 31, 2015, other operational gain of $592 was recognized, mainly consisting of $550 cash received from the sale of KLC shares acquired in connection with the rehabilitation plan discussed below in Note 17.1.b. </font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6595664192">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operational loss<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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_OtherOperationalLossTextBlock', window );">Other operational loss</a></td>
<td class="text"><div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>11. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other operational loss:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On September 29, 2010, the Company entered into an agreement with a third party to sell 45% of its interests in any future proceeds related to the recovery of certain of the commercial claims for consideration of $5,000 (Note 17.1. (a)). During the year ended December 31, 2012, the Company came to a legal settlement over a legal case included in the above agreement and paid the third party 45% of the proceeds from that settlement. As a result, for the year ended December 31, 2013, other operational loss totaled $1,125, representing the expense incurred by the Company to a third party in connection to the settlement of a commercial claim, based on the same agreement.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">For the year ended December 31, 2014 and 2015, other operational loss totaled $94 and $0, respectively. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 other operational loss.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825588368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>12.&#160;&#160;&#160;&#160;&#160;&#160;Management fees:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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 year ended December 31, 2015, were $7,985 and are included in Management fees in the accompanying consolidated statement of operations. In addition, Management fees for the year ended December 31, 2015 also include $451 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">. </font></div>
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<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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6783752480">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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 " 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:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Equity Incentive Plans:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 21, 2013, the Company's Board of Directors adopted the 2013 Equity Incentive Plan and reserved for issuance 240,000 common shares thereunder. The Plan is designed to provide certain key persons, whose initiative and efforts are deemed to be important to the successful conduct of the business of the Company with incentives to enter into and remain in the service of the Company, acquire an interest in the success of the Company, maximize their performance and enhance the long-term performance of the Company. As of December 31, 2014, all of the respective shares have been granted and vested.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 21, 2013, 239,333 restricted common shares were granted to certain directors, officers, employees of the Company, the respective shares were issued on September 11, 2013, and vested on March 21, 2014. Additionally, on March 21, 2013, 12,000 restricted common shares were granted to a Company's former director, the respective shares vested immediately and were issued on June 27, 2013. The fair value of each share was $6.46 and was determined by reference to the closing price of the Company's common stock on the grant date.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February 20, 2014, the Company's Board of Directors adopted the 2014 Equity Incentive Plan (the &#147;2014 Plan&#148;) and reserved for issuance 430,000 common shares thereunder. The terms and conditions of the 2014 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February 20, 2014, 394,167 restricted common shares were granted to certain directors, officers and employees of the Company, which will vest on March 20, 2015. Additionally, on February 20, 2014, 8,000 restricted common shares were granted to certain directors of the Company, which vested immediately. The fair value of each share was $10.86, based on the closing price of the Company's common shares on the grant date. The shares were issued in May 2014 along with 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 (Note 3).</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On August 4, 2014, the Company issued an aggregate of 168,842 common shares to its former Chief Executive Officer and current Non-Executive Chairman, in accordance with the terms of an agreement to terminate his consultancy agreement, effective July 31, 2014 (Note 3). The fair value of each share was $10.71, based on the closing price of the Company's common stock on the grant date, the date of the release agreement. In addition, as a result of the termination agreement, the second and the third installments of his minimum guaranteed incentive award under his consultancy agreement of 9,333 and 9,334, which would vest on May 3, 2015 and 2016, respectively, were cancelled (Note 3).</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On July 11, 2014, 15,000 common shares were granted to two of the Company's directors and vested on the same date. The Company plans to issue the respective shares in 2016. The fair value of each share was $12.03, based on the closing price of the Company's common shares on the grant date.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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. The terms and conditions of the 2015 Plan are substantially similar to the terms and conditions of Company's previous equity incentive plans.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, on April 13, 2015, the Company granted 676,150 restricted common shares 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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "> 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>
<ul>
	<li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;font-size:13.3px;color:#000000; "></font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Option type:</i> Bermudan call option</font></li>
	<li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Grant Date: </i>April 13, 2015 </font></li>
	<li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;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></li>
	<li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;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></li>
	<li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;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 that for purposes of this calculation the Company is not expected to pay dividends before the expiration of the share options.</font></li>
	<li type="square" style="text-align: justify;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;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, and no dilution adjustment was incorporated in the valuation model.</font></li>
	<li type="square" style="text-align: justify;margin-bottom:6.0px;font-family:Calibri;font-size:13.3px;color:#000000; "><font style="font-family:Calibri;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 expected to be 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></li>
</ul><div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "></font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">All non-vested shares and options vest according to the terms and conditions of the applicable award agreements. 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. For the years ended December 31, 2013, 2014 and 2015, the Company paid no dividends on non-vested shares.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company expects that there will be no forfeitures of non-vested shares or options. The shares which are issued in accordance with the terms of the Company's equity incentive plans or awards remain restricted until they vest. For the years ended December 31, 2013, 2014 and 2015, the stock based compensation cost was $1,488, $5,834 and $2,684, respectively, and is included under &#147;General and administrative expenses&#148; in the accompanying consolidated statement of operations.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">A summary of the status of the Company's non-vested restricted shares as of December 31, 2013, 2014 and 2015, and the movement during these years is presented below.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:solid #000000 0.0px;width:22px;"><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:solid #000000 0.0px;width:108px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at January 1, 2013</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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">18,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">36.75</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">279,333</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">6.43</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Vested</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(21,333</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">19.71</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at December 31, 2013</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">276,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">7.46</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="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:14px;"><div style="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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at January 1, 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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">276,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">7.46</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">586,009</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.85</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Vested</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(449,842</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">8.94</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Cancelation of shares due to termination agreement with former CEO</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:14px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(18,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></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:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">6.2</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at December 31, 2014</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">394,167</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="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:14px;"><div style="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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at January 1, 2015</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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">394,167</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">676,150</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">3.55</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Vested</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(394,167</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at December 31, 2015</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">676,150</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">3.55</font></div></td>
  </tr>
</table>
<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">A summary of the status of the Company's non-vested share options as of December 31, 2015, and the movement during the year, since granted, is presented below</font></div>
<div style="margin-top:8.0px;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:244px;height:31px;"><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-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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Shares</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;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:22px;"><div style="text-align:center;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:126px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Weighted&#160;average exercise price</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;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:22px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
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  </tr>
  <tr>
    <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:244px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Options</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:126px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:127px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <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:244px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Outstanding at January 1, 2015</font></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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:126px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:127px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">521,250</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:126px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">5.5</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:127px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1.4121</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Outstanding as of December 31, 2015</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:17px;"><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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>521,250</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:126px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>5.5</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:127px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>1.4121</b></font></div></td>
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<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The estimated compensation cost relating to non-vested share option and restricted share awards not yet recognized was $630 and $680, respectively, as of December 31, 2015 and is expected to be recognized over the weighted average period of 4.29 years and 0.28 years, respectively. The total fair value of shares vested during the years ended December 31, 2013, 2014 and 2015 was $136, $5,773 and $1,301, respectively.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51659978&amp;loc=d3e25284-112666<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6597524928">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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>
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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_EarningsPerShareTextBlock', window );">Earnings / Loss per Share:</a></td>
<td class="text"><div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>14.&#160;&#160;&#160;&#160;&#160;&#160;Earnings / (Loss) per share:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">All shares issued (including the restricted shares issued under the Company's equity incentive plan) are the Company's common stock and have equal rights to vote and participate in dividends. The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreement. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. For the years ended December 31, 2014 and 2015, during which the Company incurred losses, the effect of 394,167 and 676,150 non-vested shares, respectively, as well as the effect of 521,250 non vested share options as of December 31, 2015, would be anti-dilutive, and &#147;Basic loss per share&#148; equals &#147;Diluted loss per share&#148;. The weighted average diluted common shares outstanding for the year ended December 31, 2013 included the effect of 65,045 incremental shares assumed to be issued under the treasury stock method, excluding 3,404 incremental shares due to their anti-dilutive effect.</font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company calculates basic and diluted losses per share as follows:</font></div>
<div style="margin-top:8.0px;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">
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Income / (Loss):</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Net &#160;income / (loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,850</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(11,723</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(458,177</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Basic earnings / (loss) per share:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">14,051,344 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">58,441,193 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">195,623,363 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Basic earnings / (loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>0.13 &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(0.20) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(2.34) &#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Dillutive effect of non vested shares</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">65,045 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">14,116,389 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">58,441,193 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">195,623,363 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Diluted earnings / (loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:133.3px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>0.13</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(0.20)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(2.34)</b></font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;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 );">+ 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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6595664192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accrued liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_AccruedLiabilitiesCurrentAndNoncurrentAbstract', window );"><strong>Accrued Liabilities [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_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">Accrued liabilities</a></td>
<td class="text"><div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>15.&#160;&#160;&#160;&#160;&#160;&#160;Accrued liabilities</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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;margin-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#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-indent:0.0px;"><font style="font-family:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</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:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Audit fees</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-indent:0.0px;"><font style="font-family:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">432</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">386</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Legal fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,149</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">449</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other professional fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">350</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">26</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;Vessel Operating and voyage expenses</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8,477</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">9,555</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Loan interest and financing fees</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:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">3,330</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:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">4,357</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Accrued Liabilities</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-indent:0.0px;"><font style="font-family:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>13,738</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>14,773</b></font></div></td>
  </tr>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;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 accounts payable and accrued liabilities 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a),20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6813780480">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 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_IncomeTaxDisclosureAbstract', window );"><strong>Income Taxes [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_IncomeTaxDisclosureTextBlock', window );">Income taxes</a></td>
<td class="text"><div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Income taxes:</b></font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>a)&#160;&#160;&#160;&#160;&#160;&#160;Taxation on Marshall Islands Registered Companies </b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Under the laws of the countries of the shipowning companies' incorporation and/or vessels' registration, the shipowning companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes, which have been included under &#147;Vessel operating expenses&#148; in the accompanying statements of operations. In addition, effective as of January 1, 2013, each foreign flagged vessel managed in Greece by Greek or foreign ship management companies is subject to Greek tonnage tax, under the laws of the Hellenic Republic. The technical managers of the Company's vessels, which are established in Greece under Greek Law 89/67, are responsible for the filing and payment of the respective tonnage tax on behalf the Company. These tonnage taxes for 2013, 2014 and 2015 amounted to $668, $1,260 and $3,302 respectively, and have also been included under &#147;Vessel operating expenses&#148; in the accompanying statements of operations. Furthermore, the New Tonnage Tax System (&#147;TTS&#148;) for Cypriot merchant shipping applicable from fiscal year 2010. Under the new TTS, qualifying ship managers who opted and are accepted to be taxed under the TTS are subject to an annual tax referred to as tonnage tax, which is calculated on the basis of the net tonnage of the qualifying ships they manage. The technical managers of the Company's vessels, which are established and operate in Cyprus, are responsible for the filing and payment of the respective tonnage tax. This tonnage tax for 2015 amounted to $11, and has also been included under &#147;Vessel operating expenses&#148; in the accompanying statements of operations.</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>b)&#160;&#160;&#160;&#160;&#160;&#160;Taxation on US Source Income -&#160;Shipping Income&#160;&#160;&#160;&#160;&#160;&#160; </b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company believes that it and its subsidiaries are exempt from U.S. federal income tax at 4% on U.S. source shipping income for the taxable years 2012, 2013, 2014, and 2015, as each vessel-operating subsidiary is organized in a foreign country that grants an equivalent exemption to corporations organized in the United States and the Company's stock is primarily and regularly traded on an established securities market in the United States, as defined by the Internal Revenue Code (IRC) of the United States.&#160;&#160;Under IRS regulations, a Company's stock will be considered to be regularly traded on an established securities market if (i) one or more classes of its stock representing 50% or more of its outstanding shares, by voting power of all classes of stock of the corporation entitled to vote and of the total value of the stock of the corporation, are listed on the market and (ii) (A) such class of stock is traded on the market, other than in minimal quantities, on at least 60 days during the taxable year or one sixth of the days in a short taxable year; and (B) the aggregate number of shares of such class of stock traded on such market during the taxable year must be at least 10% of the average number of shares of such class of stock outstanding during such year or as appropriately adjusted in the case of a short taxable year. Notwithstanding the foregoing, the treasury regulations provide, in pertinent part, that a class of the Company's stock will not be considered to be &#147;regularly traded&#148; on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified stock attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the vote and value of such class of the Company's outstanding stock, (&#147;5% Override Rule&#148;).</font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>c)&#160;&#160;&#160;&#160;&#160;&#160;Taxation on Maltese Registered Company</b></font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition to the tax consequences discussed above, the Company may be subject to tax in one or more other jurisdictions, including Malta, where the Company conducts activities. The amount of any such tax imposed upon the Company's operations for year 2015 in Malta will be immaterial. <b>&#160;&#160;&#160;&#160;&#160;&#160;</b></font></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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6783752480">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 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_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies [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_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies:</a></td>
<td class="text"><div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>17. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commitments and Contingencies: </b></font></div>
<div style="margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1)&#160;&#160;&#160;&#160;&#160;&#160;<u>Legal proceedings</u></b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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. The Company's vessels are covered for pollution in the amount of $1 billion per vessel per incident, by the Protection and Indemnity (P&amp;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. 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. Supplemental calls, if any, are expensed when they are announced and according to the period they relate to. The Company is not aware of any supplemental calls in respect of any policy years other than those that have already been recorded in its consolidated financial statements.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">a.&#160;&#160;&#160;&#160;&#160;&#160;In 2010, the Company commenced arbitration proceedings against Ishhar Overseas FZE of Dubai (&#147;Ishhar&#148;) for repudiatory breach of the charter parties due to the nonpayment of charter hires related to <i>Star Epsilon</i> and <i>Star Kappa</i>. The Company sought damages for repudiations of the charter parties due to early redelivery of the vessels as well as unpaid hire of $1,949. The Company pursued an interim award for such nonpayment of charter hire and an award for the loss of charter hire for the remaining period under the charter. Claim submissions were filed. As of December 31, 2011, the Company determined that the above amount was not recoverable and recognized a provision for doubtful receivables of $1,949.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Subsequently, a conditional settlement agreement was signed on September&#160;5, 2012, under which the Company agreed to receive a cash payment of $5,000 in seventeen monthly installments. The first installment of $500 was received upon the execution of the settlement agreement and the next sixteen monthly installments, varying between $250 and $500, were received on the last day of each month beginning from September 30, 2012 and ending on December 31, 2013.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">During the year ended December 31, 2013, the Company received $2,500, under the settlement agreement, which is included under &#147;Other operational gain&#148; in the accompanying consolidated statement of operations for the year ended December 31, 2013 (Note 10).</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">b.&#160;&#160;&#160;&#160;&#160;&#160;In February 2011, Korea Line Corporation (&#147;KLC&#148;), charterer at the time of the vessels <i>Star Gamma</i> and <i>Star Cosmo,</i> commenced rehabilitation proceedings in Seoul, Korea. Under the rehabilitation plan approved by KLC's creditors on October 14, 2011, the Company was entitled to receive $6,839, of which 37% is to be paid in cash over a period of ten years and the remaining 63% would be converted into KLC's shares at a rate of one common share of KLC with par value of KRW 5,000 for each KRW 100,000 of claim. Based on the terms of the rehabilitation plan, the shares of KLC were restricted from trading for six months. In addition, the Company entered into a direct agreement with KLC and received $172 in October 2011 and $172 in January 2013, as part of the due hire for <i>Star Gamma</i>. Finally, the Company entered into two tripartite agreements with KLC and the sub-charterers of the vessels <i>Star Gamma</i> and <i>Star Cosmo</i>, under which the Company received $86 from the <i>Star Gamma</i> sub-charter in December 2011 and $121 in March 2012 from the <i>Star Cosmo</i> sub-charterer. As of December 31, 2011, the Company determined that $498 of receivables were not recoverable due to the long term time period of KLC's rehabilitation plan and the uncertainty surrounding the continuation of KLC's operations and recognized a corresponding provision.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;On November 19, 2012, the Company received 11,502 shares (46,007 shares before split) of KLC as part of the rehabilitation plan described above for the vessel <i>Star Gamma</i>, which shares were sold the same date. The cash proceeds from the sale of the respective shares were $144. In December 2012, the Company also received $12 and $1 in cash, for <i>Star Gamma</i> and <i>Star Cosmo,</i> respectively, pursuant to the terms of the rehabilitation plan. In October 2013, the Company received $167 and $10 for <i>Star Gamma</i> and <i>Star Cosmo,</i> respectively, pursuant to the terms of the rehabilitation plan, and the total amount of $177 is included under &#147;Other operational gain&#148; in the consolidated statements of operations for the year ended December 31, 2013 (Note 10). These amounts have been received as early payment of the cash component of the rehabilitation plan. The next tranche of 718 shares for the vessel <i>Star Cosmo</i> was released from lock up on June 4, 2013 and along with the 24,196 and 983 shares issued in November 2013, pursuant to the terms of the rehabilitation plan for <i>Star Gamma</i> and <i>Star Cosmo</i>, respectively, all of the KLC shares had been sold by December 31, 2015 and an amount of $592 was included in &#147;Other operational gain&#148; in the accompanying statement of operations for the year ended December 31, 2015 (Note 10).</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-28.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">c.&#160;&#160;&#160;&#160;&#160;&#160;On July&#160;13, 2011, <i>Star Cosmo</i> was retained by the port authority in the Spanish port of Almeria and was released on July&#160;16, 2011. According to the port authority, the vessel allegedly discharged oily water while sailing in Spanish waters in May&#160;2011, more than two months before being retained, and related records were allegedly deficient. Administrative investigation commenced locally. The Company posted a cash collateral of &#128;340,000 (approx. $371, using the exchange rate as of December 31, 2015, eur/usd 1.09) to guarantee the payment of fines that may be assessed in the future, and the vessel was released. The cash collateral of &#128;340,000 was released to the Company in March 2012, after being replaced by a P&amp;I Letter of undertaking. The fines were previously reduced by the Spanish administrative authorities to &#128;260,000 (approx. $283, using the exchange rate as of December 31, 2015, eur/usd 1.09). Except for an amount of &#128;60,000 (approx. $65, using the exchange rate as of December 31, 2015, eur/usd 1.09), which was irrevocably adjudicated in March 2015, the remaining amount of this fine remains subject to adjudication. Up to $1 billion of the liabilities associated with the individual vessel's actions, mainly for sea pollution, are covered by the P&amp;I Club Insurance. The Company has not accrued any amount for this case.</font></div>
<div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">d.&#160;&#160;&#160;&#160;&#160;&#160;In March 2013, the Company commenced arbitration proceedings against Hanjin HHIC-Phil Inc., the shipyard that constructed the <i>Star Polaris</i>, relating to an engine failure the vessel experienced in Korea. This resulted in 142 off-hire days and the loss of $2,343 in revenues. The Company pursued the compensation for the cost of the repairs and the loss of revenues and following the arbitration hearing in July 2015, the arbitral tribunal issued its partial final &#160;award (the &#147;Award&#148;), which found the yard liable for certain aspects of the claim but did not quantify the Award. The Company sought permission to appeal the Award before the High Court of United Kingdom, which procedure is pending. If the permission to appeal is denied, a further hearing will take place before the same arbitral tribunal to quantify the damages for which the yard is liable.</font></div>
<div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">e.&#160;&#160;&#160;&#160;&#160;&#160;On June 28, 2013, the Company received a letter from the receivers of STX Pan Ocean Co. Ltd., or STX, terminating the charter agreement for the vessel <i>Star Borealis</i>. <i>Star Borealis</i> was on time charter at an average gross daily charter rate of $24.75 for the period from September 11, 2011 until July 11, 2021. On September 11, 2014, Star Bulk agreed the settlement of a claim for damages and due hire brought by its subsidiary, Star Borealis LLC arising from the purported repudiation of the <i>Star Borealis</i> charter agreement by charterer STX (the &#147;Settled Claim&#148;). Star Borealis LLC negotiated, sold and assigned the rights to the Settled Claim to an unrelated third party for $8,016, which was received on October 3, 2014. The Company recorded in 2014 a gain of approximately $9,377 including the extinguishment of a $1,361 liability related to the amount of fuel and lubricants remaining on board of <i>Star Borealis</i> at the time of the charter repudiation.</font></div>
<div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">f.&#160;&#160;&#160;&#160;&#160;&#160;On October 23, 2014, a purported shareholder (the &#147;Plaintiff&#148;) 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. The Company has been named as a nominal defendant in the lawsuit. The lawsuit alleges that the acquisition of Oceanbulk and purchase of several Excel Vessels were the result of self-dealing by various defendants and that the Company entered into the respective transactions on unfair terms. The lawsuit further alleges that, as a result of these transactions, several defendants' interests in the Company have increased and that the Plaintiff's interest in the Company has been diluted. The lawsuit also alleges that the Company's management has engaged in other conduct that has resulted in corporate waste. The lawsuit seeks cancellation of all shares issued to the defendants in connection with the acquisition of Oceanbulk, unspecified monetary damages, the replacement of some or all members of the Company's Board of Directors and its Chief Executive Officer, and other relief. The Company believes the claims are completely without merit, denies them and intends to vigorously defend against them in court. On November 24, 2014, the Company and the other defendants removed the action to the United States District Court for the Southern District of New York.&#160;On March 4, 2015, the Company and the other defendants moved to dismiss the complaint.&#160; On February 18, 2016, the court granted the Company's motion to dismiss in full and dismissed the matter.&#160; On February 24, 2016, Plaintiff filed a notice of appeal.&#160; The appeal is pending. </font></div>
<div style="margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2)&#160;&#160;&#160;&#160;&#160;&#160;<u>Other contingencies:&#160;&#160;&#160;&#160;&#160;&#160;</u></b></font></div>
<div style="margin-left: 144.0px;margin-top:8.0px;text-indent:-96.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Contingencies relating to Heron</b></font></div>
<div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Following the completion of the Merger, Oceanbulk Shipping became a wholly owned subsidiary of the Company. As further discussed in Note 1, Oceanbulk Shipping owned the Heron Convertible Loan, which was convertible into 50% of Heron's equity. After the conversion of the loan, on November 5, 2014 (Note 1), Heron is 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 December 31, 2015, all vessels previously owned by Heron have 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 receiving permission from local authorities, 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 of December 31, 2014 and 2015, the Company had an outstanding payable of $1,689 and $50 to the Sellers, respectively, which is included under &#147;Due to related parties&#148; in the accompanying balance sheets.</font></div>
<div style="text-align:justify;margin-left: 47.3px;margin-top:8.0px;text-indent:-28.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>3)&#160;&#160;&#160;&#160;&#160;&#160;<u>Lease commitments:</u></b></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The following table sets forth inflows or outflows, related to the Company's leases, as at December 31, 2015. </font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="19" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:591px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>Twelve month periods ending December&#160;31,</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:26px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><i>Plus inflows/ minus outflows</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><i>&#160;</i></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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><i>&#160;</i></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:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>Total</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2016</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2017</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2018</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2019</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2020</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2021 and thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:26px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Future, minimum, non-cancellable charter revenue (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">34,784 &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">33,695 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">1,089 &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:75px;height:40px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Future, minimum, non-cancellable lease payment under vessel operating leases (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(5,949) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(3,605) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(2,344) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:75px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Office rent</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(1,687) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(256) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(256) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(255) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(252) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(247) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(421) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:34px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Bareboat capital leases - upfront hire &amp; handling fees (3)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(7,477) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(6,469) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(672) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(336) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:75px;height:26px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Bareboat commitments charter hire (4) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:20px;"><div style="text-align:justify;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:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(282,474) &#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:20px;"><div style="text-align:justify;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:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(7,126) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(16,951) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(21,388) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(21,291) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(21,774) &#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:20px;"><div style="text-align:justify;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(193,944) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>Total</b> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(262,803) </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</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:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>16,239 &#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:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(19,134) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(21,979) &#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:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(21,543) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(22,021) &#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:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(194,365) &#160;</b></font></div></td>
  </tr>
  <tr>
    <td style="width:75px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:56px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:45px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:60px;"></td>
  </tr>
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<div><font style="font-family:Calibri;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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the minimum contractual charter revenues to be generated from the existing, as of December 31, 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.</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;(2)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the operating lease arrangement for Maiden Voyage disclosed in 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:Calibri;font-size:13.3px;color:#000000; ">(3)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire fee and handling fees for those vessels being, as of December 31, 2015, under construction. </font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(4)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of December 31, 2015, under construction discussed in Note 6, as well as those commitments under bareboat lease agreements discussed in Note 5. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month LIBOR of 0.846%, as of December 31, 2015 (please refer to Note 6).</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000;">&#160;</font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6625556688">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage and Vessel operating expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text"><div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>18. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Voyage and Vessel operating expenses: </b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated statements of operations are analyzed as follows:</font></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Voyage &#160;expenses</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Port charges &#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;&#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-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">1,455</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">5,132</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">17,619</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Bunkers</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">4,338</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">33,146</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">48,535</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Commissions -&#160;third parties </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">867</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">1,902</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,915</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Commissions -&#160;related parties (Note 3)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">773</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">1,997</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">3,350</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Miscellaneous</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">116</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">164</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">458</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total voyage expenses &#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;</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>7,549</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>42,341</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>72,877</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessel operating expenses</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:Calibri;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Crew wages and related costs &#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-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">14,355</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">29,449</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">65,402</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Insurances</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">2,968</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">4,561</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8,026</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Maintenance, repairs, spares and stores</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">5,772</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">9,415</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">18,577</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Lubricants</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">2,339</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">3,901</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8,187</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Tonnage taxes</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">797</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">1,360</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">3,717</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Upgrading expenses</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">205</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">3,167</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,205</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Miscellaneous</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">651</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,243</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,682</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total vessel operating expenses &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>27,087</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>53,096</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>112,796</b></font></div></td>
  </tr>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000;"><b>&#160;</b></font></div>
<div style="margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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).</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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6823999392">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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_FairValueDisclosuresAbstract', window );"><strong>Fair value measurements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<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-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>19.</b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>Fair value measurements:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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. 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. The same guidance requires that assets and liabilities carried at fair value should be classified and disclosed in one of the following three categories based on the inputs used to determine its fair value:</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Level 1:&#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: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Level 2:&#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: 96.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Level 3:&#160;&#160;&#160;&#160;&#160;&#160;Unobservable inputs that are not corroborated by market data.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, ASC 815, &#147;<i>Derivatives and Hedging</i>&#148; requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position.</font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b><u>Fair value on a recurring basis:</u></b></font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Interest rate swaps:</b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company enters into interest rate derivative contracts 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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In June 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 (Note 8c). The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the <i>Star Borealis </i>and <i>Star Polaris </i>tranches, respectively, of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were effective by November and August 2014, respectively, and mature in August and November 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 December 31, 2015, the notional amount of these swaps was $24,898 and $26,130, for the vessel <i>Star Borealis</i> and the vessel <i>Star Polaris</i>, respectively.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, on April 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 (Note 8f). The HSH Swaps came into effect in September 2014 and mature in September 2018. Under the terms of the HSH Swaps, the Company is paying 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 December 31, 2015, the notional amount of these swaps was $15,385.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Up to August 31, 2014, because the Credit Agricole Swaps and the HSH Swaps were not designated as accounting hedges, changes in their fair value at each reporting period up to that date, were reported in earnings as a loss under &#147;Gain/ (Loss) on derivative financial instruments, net&#148;. On August 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;. Since that date, the effective portion of these cash flow hedges is reported in &#147;Accumulated other comprehensive income / (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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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;). 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% to 2.07% per annum, based on an aggregate notional amount beginning at $186,307 on July 1, 2015, and increasing up to $461,264 on October 1, 2015. 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 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), was reported in &#147;Accumulated other comprehensive income / (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 December 31, 2015 the notional amount of these swaps was $451,426.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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 2015 whose loans had been designated as hedged items, the Company determined that 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. Consequently, the hedging relationship related to the Goldman Sachs Swaps no longer qualified 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 income / (loss)&#148; with respect to the corresponding swaps 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 $1,793 related to loans of sold or expected to be sold vessels that were reclassified to earnings in the year ended December 31, 2015, since the forecasted transaction attributable to these vessels was no longer expected to occur. The unamortized balance of &#147;Accumulated other comprehensive income / (loss)&#148; with respect to the corresponding swaps as of December 31, 2015 was $1,261.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The amounts of Gain/ (Loss) on derivative financial instruments recognized in the accompanying consolidated statements of operations are analyzed as follows:</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Consolidated Statement of Operations</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;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="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:justify;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="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <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;height:15px;"><div style="text-align:justify;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></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-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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Gain/(loss) on derivative instruments, 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:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:Calibri;font-size:13.3px;color:#000000; ">91 </font></div></td>
    <td valign="bottom" 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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(799</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:13.3px;color:#000000; ">3,443 </font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" 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:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">(4,918</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:44px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(1,793</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Ineffective portion of cash flow hedges</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-align:justify;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;">&#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:22px;"><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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><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:22px;"><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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) on derivative instruments, 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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>91 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:Calibri;font-size:13.3px;color:#000000; "><b>(799)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>(3,268)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Interest and finance costs</b></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:22px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;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:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:66px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;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:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:66px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)</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:Calibri;font-size:14.7px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:14.7px;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(1,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(2,416</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) recognized</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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>91 </b></font></div></td>
    <td valign="bottom" 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-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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(1,854)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:Calibri;font-size:13.3px;color:#000000; "><b>(5,684)</b></font></div></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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">An amount of approximately ($578) is expected to be reclassified into earnings during the following 12-month period when realized.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In relation to the above interest rate swap agreements designated as cash flow hedges 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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of the Company's financial instruments as of December 31, 2014 and 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-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:199px;height:38px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="9" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:438px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs (Level 2)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:17px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:200px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:51px;"><div style="text-align:center;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 0.0px;width:21px;"><div style="text-align:justify;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 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:90px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:82px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interest rate swaps - asset position</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:center;text-indent:0.0px;"><font style="font-family:Calibri;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:solid #000000 1.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>LIABILITIES</b></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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interest rate swaps - liability position (current and non-current)</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:center;text-indent:0.0px;"><font style="font-family:Calibri;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:solid #000000 1.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">7,732 </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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">7,642 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">807 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#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;</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:Calibri;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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>7,732 </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:Calibri;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:center;text-indent:0.0px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,642 </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:Calibri;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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>807 </b></font></div></td>
  </tr>
  <tr>
    <td style="width:199px;"></td>
    <td style="width:21px;"></td>
    <td style="width:90px;"></td>
    <td style="width:17px;"></td>
    <td style="width:90px;"></td>
    <td style="width:17px;"></td>
    <td style="width:21px;"></td>
    <td style="width:78px;"></td>
    <td style="width:17px;"></td>
    <td style="width:82px;"></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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;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. The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of December 31, 2015.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The 8.00% 2019 Notes have a fixed rate, and their estimated fair value as of December 31, 2015, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), &#160;is approximately $24,000 .</font></div>
<div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b><u>Fair value on a nonrecurring basis</u></b></font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">As a result of the decline in charter rates and vessel values during the previous years and because market expectations for future rates were low and vessel values were unlikely to increase to the high levels of 2008, the Company reviewed, in 2013, 2014 and 2015 the recoverability of the carrying amount of its vessels. The impairment analysis for the year ended December 31, 2013 and 2014, indicated that the carrying amount of the Company's vessels was recoverable, and therefore, the Company concluded that no impairment charge was necessary. As further discussed in Note 5, the Company recognized an impairment loss of $321,978 for the year ended December 31, 2015, of which: </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(i) $17,815 relates to sold operating vessels that had been delivered to their purchasers as of December 31, 2015 or bareboat vessels that were reassigned to their owners during the year. The carrying value of these vessels was written down to the fair value as determined by reference to their agreed sale (or reassignment) prices less costs of sale. </font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(ii) &#160;$201,585 relates to sold operating vessels and newbuildings in 2015 or in early 2016 that had not been delivered to their purchasers as of December 31, 2015. The carrying value of these vessels was written down to the fair value as determined by reference to their agreed sale prices less costs of sale.</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(iii) &#160;$102,578 relates to certain other operating vessels and newbuildings. Pursuant to its impairment analysis for the year ended December 31, 2015, the Company estimated that these operating vessels and newbuildings would have future undiscounted projected operating cash flows to be earned over their operating life less than their carrying value. In estimating the projected cash flows for these vessels, the Company took into consideration the possibility of their sale, to the extent that attractive sale prices are attainable. The carrying value of these vessels was written down to the fair value as determined by reference to the vessel valuations of independent shipbrokers (as of mid to late December 2015). &#160;</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of these assets described under (ii) and (iii) above, measured at fair value on a non-recurring basis as of December 31, 2015. </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:236px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="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>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;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" colspan="14" style=" border:solid #000000 0.0px;width:673px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Fair Value Measurements Using</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Long-lived assets held and used</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Quoted Prices<br/>in Active<br/>Markets for<br/>Identical<br/>Assets<br/>(Level 1)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Significant<br/>Other<br/>Observable<br/>Inputs<br/>(Level 2)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Significant<br/>Unobservable<br/>Inputs<br/>(Level 3)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Impairment <br/>loss</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:236px;"><div style="margin-left: 23.1px;text-indent:-10.7px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Vessels, net</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="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;"><font style="font-family:Calibri;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;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$ &#160;&#160;&#160;&#160;&#160;259,775</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$ &#160;&#160;&#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:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$ &#160;&#160;145,631</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:236px;"><div style="margin-left: 23.1px;text-indent:-10.7px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Advances for vessels under construction</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">36,152</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">158,532</font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#151;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;295,927</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#151;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;304,163</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>
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<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In addition, please refer to Note 1 for the fair value of assets acquired and liabilities assumed by the Company at the Merger and the Pappas Transaction on July&#160;11, 2014, which was the acquisition date.</font></div>
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<div style="text-align:justify;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000;">&#160;</font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6813729632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 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_SubsequentEventsTextBlock', window );">Subsequent Events:</a></td>
<td class="text"><div style="margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>20.&#160;&#160;&#160;&#160;&#160;&#160;Subsequent Events:</b></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">a)&#160;&#160;&#160;&#160;&#160;&#160;<b>Sale of Vessels</b>: In 2015, as further discussed in Note 5, the Company entered into various separate agreements with third parties to sell certain of the Company's operating vessels (<i>Indomitable</i>, <i>Magnum Opus</i>, <i>Tsu Ebisu</i> and <i>Deep Blue</i>). In addition, in 2015, as further discussed in Note 6, the Company entered into various separate agreements with third parties to sell upon their delivery from the shipyards the newbuilding vessels <i>Behemoth</i>, <i>Bruno Marks</i>, <i>Jenmark</i>, <i>Star Aries</i> and <i>Star Taurus</i>. In early 2016, the Company entered into various separate agreements with third parties to sell the operating vessel <i>Obelix</i> and the newbuilding vessel <i>Megalodon</i> (ex-HN 5056) upon its delivery from the shipyard. The net book value of these operating and newbuilding vessels as of December 31, 2015, was $176,336. The delivery dates of these vessels are discussed below:</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Operating Vessels:</b></font></div>
<div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"><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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">i.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February 3, 2016, the vessel <i>Tsu Ebisu</i> was delivered to its new owners.</font></div></td>
  </tr>
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<div><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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">ii.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 2, 2016, the vessel <i>Magnum Opus</i> was delivered to its new owners.</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 96.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In connection with the sale of <i>Tsu Ebisu</i> and <i>Magnum Opus</i>, the Company repaid $17,550 and $18,000, respectively, under their corresponding facilities as discussed in Note 8.</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">
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">iii.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 18, 2016, the vessel Deep Blue was delivered to its new owners, and the DVB $31,000 facility was fully repaid.</font></div></td>
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<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Newbuildings:</b></font></div>
<div style="text-align:justify;margin-left: 96.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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  <tr>
    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">i.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On January 7, 2016, the Company took delivery of and delivered to its new owners <i>Behemoth</i> (ex-HN 5055), a 182,000 dwt Capesize bulk carrier built by JMU.</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">ii.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On January 11, 2016, the Company took delivery of <i>Bruno Marks</i> (ex-HN 1312), a 182,000 dwt Capesize bulk carrier built by SWS. On January 15, 2016, <i>Bruno Marks</i> was delivered to its new owners.</font></div></td>
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<div><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="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">iii.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On January 26, 2016, the Company took delivery of and delivered to its new owners <i>Megalodon</i> (ex-HN 5056), a 182,000 dwt Capesize bulk carrier built by JMU.</font></div></td>
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<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">iv.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February 29, 2016, the Company took delivery of and delivered to its new owners <i>Star Aries</i> (ex-HN 1338), a 180,000 dwt Capesize bulk carrier built by SWS.</font></div></td>
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<div align="justify"><font style="font-family:Calibri;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;</font></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">b)</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:582px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Delivery of newbuilding vessels:</b></font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">i.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On January 6, 2016, the Company took delivery of <i>Star Lutas</i> (ex-HN NE 197), a 61,000 dwt Ultramax bulk carrier built by Nantong COSCO KHI-Ship Engineering Co. (&#147;NACKS&#148;).</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">ii.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On January 8, 2016, the Company took delivery of <i>Kennadi</i> (ex-HN 1080), a 64,000 dwt Ultramax bulk carrier built by New&#160;Yangzijiang.</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">iii.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On February 26, 2016, the Company took delivery of <i>Star Poseidon</i> (ex-HN NE 198), a 209,000 dwt Newcastlemax bulk carrier built by NACKS.</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">iv.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 2, 2016, the Company took delivery of <i>Mackenzie</i> (ex-HN 1081), a 64,000 dwt Ultramax bulk carrier built by New&#160;Yangzijiang.</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">v.</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:533px;background-color:#ffffff"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">On March 11, 2016 the Company took delivery of <i>Star Marisa</i> (ex-HN 1359), a 208,000 dwt Newcastlemax bulk carrier built by SWS.</font></div></td>
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<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">c)&#160;&#160;&#160;&#160;&#160;&#160;<b>Pool Agreement:</b> In January 2016, the Company entered into a Capesize vessel pooling agreement (&#147;CCL&#148;)&#160;with BOCIMAR INTERNATIONAL NV, GOLDEN OCEAN GROUP LIMITED and C TRANSPORT HOLDING LTD. The Company agreed to market nine of its Capesize dry bulk vessels, which had previously been operating in the spot market, as part of one combined CCL fleet. Together with the Company's nine vessels, the CCL fleet will initially consist&#160;of 65 modern Capesize vessels and will be managed out of Singapore and Antwerp. Each vessel owner will continue to be responsible for the operating, accounting and technical management of its respective vessels. The Company expects to achieve improved scheduling ability through the joint marketing opportunity that CCL represents for its Capesize vessels, with the overall aim of enhancing economic efficiencies. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">d)</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:582px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Shipbuilding contract terminations:</b> In February 2016, the Company agreed in principle with certain shipyards to terminate two shipbuilding contacts. The Company will have no future capital expenditure obligations on these vessels once definitive documentation is executed.</font></div></td>
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<div><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">e)</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:582px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Commerzbank $120,000 Facility - Refinancing Amendment:</b> In early 2016, the Company agreed in principle with Commerzbank to a refinancing amendment of the Commerzbank $120,000 Facility. Pursuant to this refinancing amendment, the Company agreed to (a) amend certain covenants governing this facility, (b) change the amortization schedule for this facility, and (c) extend the repayment date for the facility from October 2016 to October 2018. The Company expect that the documentation for this refinancing amendment will be finalized and executed in April 2016.</font></div><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div><div style="text-align:justify;text-indent:0.0px;"></div></td>
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    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:24px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">f)</font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:582px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Resignation of Director:</b> On March 14, 2016, Ms. Ren</font><font style="font-family:Calibri;font-size:13.3px;color:#222222; ">&#233;e Kemp stepped down from the Company's Board of Directors.</font></div></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6839885056">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 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_AccountingPoliciesAbstract', window );"><strong>Significant Accounting policies [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_ConsolidationPolicyTextBlock', window );">Principles of consolidation</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>a)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Principles of consolidation:</b></i> The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (&#147;U.S. GAAP&#148;), which include the accounts of Star Bulk and its wholly owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated in the consolidation.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk as the holding company determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under ASC 810 &#147;Consolidation&#148;, a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions. Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">A variable interest entity (&#147;VIE&#148;) is an entity as defined under ASC 810-10, which in general either does not have equity investors with voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2013, 2014 and 2015, no such interest existed.</font></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_EquityMethodInvestmentsPolicy', window );">Equity method investments</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>b)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Equity method investments: </b></i>Investments in the equity of entities over which the Company exercises significant influence, but does not exercise control are accounted for by the equity method of accounting. Under this method, the Company records such an investment at cost and adjusts the carrying amount for its share of the earnings or losses of the entity subsequent to the date of investment and reports the recognized earnings or losses in income. The Company also evaluates whether a loss in value of an investment that is other than a temporary decline should be recognized. Evidence of a loss in value might include absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity that would justify the carrying amount of the investment. Dividends received reduce the carrying amount of the investment. When the Company's share of losses in an entity accounted for by the equity method equals or exceeds its interest in the entity, the Company does not recognize further losses, unless the Company has made advances, incurred obligations and made payments on behalf of the entity.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"></div><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_UseOfEstimates', window );">Use of estimates</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>c)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Use of estimates: </b></i>The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"></div><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_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive income/(loss)</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>d)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Comprehensive income/ (loss): </b></i>The statement of comprehensive income / (loss) presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. Reclassification adjustments are presented out of accumulated other comprehensive income / (loss) on the face of the statement in which the components of other comprehensive income / (loss) are presented or in the notes to the financial statements. The Company follows the provisions of ASC 220 &#147;Comprehensive Income&#148;, and presents items of net income / (loss), items of other comprehensive income / (loss) (&#147;OCI&#148;) and total comprehensive income / (loss) in two separate and consecutive statements. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"></div><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_ConcentrationRiskCreditRisk', window );">Concentration of credit risk</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>e)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Concentration of credit risk: </b></i>Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents and restricted cash, trade accounts receivable and derivative contracts (including freight derivatives, bunker derivatives and interest rate swaps). The Company's policy is to place cash and cash equivalents, and restricted cash with financial institutions evaluated as being creditworthy and are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance by counter parties to derivative instruments. To decrease this risk, the Company limits its exposure in over-the-counter transactions by diversifying among counter parties with high credit ratings, and selects freight derivatives, if any, that clear through the London Clearing House. The Company performs periodic evaluations of the relative credit standing of those financial institutions. In addition the Company limits its credit risk with accounts receivable by performing ongoing credit evaluations of its customers' financial condition. </font></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_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign currency transactions</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>f)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Foreign currency transactions:</b></i> The functional currency of the Company is the U.S. Dollar since its vessels operate in the international shipping markets, and therefore primarily transact business in U.S. Dollars. The Company's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the period-end exchange rates. Resulting gains or losses are included in &#147;Interest and other income&#148; in the accompanying consolidated statements of operations.</font></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_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and cash equivalents</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>g)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Cash and cash equivalents:</b></i> The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.</font></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_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted cash</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>h)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Restricted cash</b></i>: Restricted cash represents minimum cash deposits or cash collateral deposits required to be maintained with certain banks under the Company's borrowing arrangements, which are legally restricted as to withdrawal or use. In the event that the obligation to maintain such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets. Otherwise, they are classified as non-current assets. </font></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_ReceivablesPolicyTextBlock', window );">Trade accounts receivable, net</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>i)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Trade accounts receivable, net: </b></i>The amount shown as Trade accounts receivable, net, at each balance sheet date, includes estimated amounts recovered from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables. As of December 31, 2014 and 2015, provision for doubtful receivables was nil. </font></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_InventoryPolicyTextBlock', window );">Inventories</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>j)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Inventories:</b></i> Inventories consist of consumable lubricants and bunkers, which are stated at the lower of cost or market value. Cost is determined by the first in, first out method.</font></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_PropertyPlantAndEquipmentPolicyTextBlock', window );">Vessels, net</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>k)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Vessels, net: </b></i>Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for its initial voyage. Any subsequent expenditure, when it does not extend the useful life of the vessel,</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; "> </font><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">increase the earning capacity or improve the efficiency or safety of the vessel, is expensed as incurred.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;The cost of each of the Company's vessels is depreciated beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value (vessel's residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton). &#160;Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Effective as of January&#160;1, 2015, following management's reassessment of the residual value of the Company's vessels, the Company increased the estimated scrap rate per light weight tonnage 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 change in this accounting estimate, which pursuant to ASC 250 &#147;Accounting Changes and Error Corrections&#148; was applied prospectively and did not require retrospective application, decreased the depreciation expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share. &#160;&#160;</font></div>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsUnderConstructionPolicyTextBlock', window );">Advances for vessels under construction</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>l)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Advances for vessels under construction:</b></i> Advances made to shipyards during construction periods are classified as &#147;Advances for vessels under construction and acquisition of vessels&#148; until the date of delivery and acceptance of the vessel, at which date they are reclassified to &#147;Vessels and other fixed assets, net&#148;. Advances for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and other expenses directly related to the construction of the vessel or the preparation of the vessel for its initial voyage. Financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.</font></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_IntangibleAssetsFiniteLivedPolicy', window );">Fair value of above/below market acquired time charter</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;margin-bottom:5.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>m)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Fair value of above/below market acquired time charter:</b></i><b> </b>&#160;The Company values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below market acquired time charters is determined by comparing the existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. &#160;Such intangible asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.</font></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_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock', window );">Impairment of long-lived assets</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>n)&#160;&#160;&#160;&#160;&#160;&#160;Impairment of long-lived assets: </b></i>The Company follows guidance related to the Impairment or Disposal of long-lived assets which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use and eventual disposition of the asset is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. </font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The Company determines the fair value of its assets based on management estimates and assumptions and by making use of available market data and taking into consideration agreed sale prices and third party valuations.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">In this respect, the management regularly reviews the carrying amount of the vessels, including newbuilding contracts, on a vessel-by-vessel basis, when events and circumstances indicate that the carrying amount of the vessels or newbuilding contracts might not be recoverable (such as vessel sales and purchases, business plans, obsolescence or damage to the asset and overall market conditions). When impairment indicators are present, the Company compares undiscounted cash flows to the carrying values of the Company's vessels to determine if the assets are impaired. In developing its estimates of future undiscounted net operating cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, ship operating expenses, vessels' residual value, fleet utilization and the estimated remaining useful lives of the vessels, assumed to be 25 years from the delivery of the vessel from the shipyard. These assumptions are based on current market conditions, historical industry and Company specific trends, as well as future expectations. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The undiscounted projected net operating cash flows are determined by considering the charter revenues from existing time charters for the fixed vessel days and an estimated daily time charter equivalent rate for the unfixed days over the estimated remaining economic life of each vessel, net of brokerage and address commissions. Estimates of the daily time charter equivalent for the unfixed days are based on the current Forward Freight Agreement (&#147;FFA&#148;) rates, for the first three-year period, and historical average rate levels of similar size vessels for the period thereafter. The expected cash inflows from charter revenues are based on an assumed fleet utilization rate of approximately 98% for the unfixed days, taking into account that assumed charter rates are based on time charter equivalent rates, which include the ballast and laden portion of each relevant voyage. In assessing expected future cash outflows, management forecasts vessel operating expenses, which are based on the Company's internal budget for the first annual period and thereafter assume an annual inflation rate of 3% (escalating during the first three-year period), as well as vessel expected maintenance costs (for dry docking and special surveys). The estimated salvage value of each vessel is $0.3 per light weight ton, in accordance with the Company's vessel depreciation policy. &#160;The Company uses a probability weighted approach for developing estimates of future cash flows used to test its vessels for recoverability when alternative courses of action are under consideration (i.e. sale or continuing operation of a vessel). &#160;If the Company's estimate of undiscounted future cash flows for any vessel is lower than the vessel's carrying value, the carrying value is written down to the vessel's fair market value with a charge recorded in earnings.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Using the framework for estimating projected undiscounted net operating cash flows described above, the Company completed its impairment analysis for the years ended December 31, 2013, 2014 and 2015, for those operating vessels and newbuildings whose carrying values were above their respective market values. For 2013 and 2014, no asset impairment was necessary. An impairment loss of $321,978 was recognized for the year ended December 31, 2015, which resulted primarily from the Company's actual and intended vessel sales that are further discussed in Notes 5 and 6.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsHeldForSalePolicyTextBlock', window );">Vessels held for sale</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>o)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Vessels held for sale: </b></i>It is the Company's policy to dispose of vessels when suitable opportunities occur. The Company classifies a vessel as being held for sale when all of the following criteria, enumerated under ASC 360 &#147;Property, Plant, and Equipment&#148;, are met: (i) management has committed to a plan to sell the vessel; (ii) the vessel is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the vessel have been initiated; (iv) the sale of the vessel is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the vessel is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:5.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded under &#147;Impairment loss&#148; in the accompanying consolidated statement of operations. The vessels are not depreciated once they meet the criteria to be classified as held for sale. At December 31, 2014 and 2015, there were no vessels that met the criteria to be classified as held for sale.</font></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_DebtPolicyTextBlock', window );">Financing costs</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>p)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Financing costs:</b></i> Fees paid to lenders or required to be paid to third parties on the lenders' behalf for obtaining new loans, senior notes or for refinancing or amending existing loans, are recorded as deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the duration of the relevant loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period in which the repayment or refinancing is made, subject to the guidance regarding <i>Debt Extinguishment</i>. Any unamortized balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the relevant credit facility in the period in which the refinancing occurs<i>.</i></font></div>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_PensionRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock', window );">Pension indemnities</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>q)</b></i><b>&#160;&#160;&#160;&#160;&#160;&#160;</b><i><b>Pension indemnities:</b> </i>Administrative employees are covered by state-sponsored pension funds of Greece. Both employees and the Company are required to contribute a portion of the employees' gross salary to the fund. The related expense is recorded under &#147;General and administrative expenses&#148; in the accompanying consolidated statements of operations and the corresponding liability at each period end is reflected within &#147;Accounts payable&#148; in the accompanying consolidated balance sheets. Upon retirement, the state-sponsored pension funds are responsible for paying the employees retirement benefits without recourse to the Company.</font></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_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Stock incentive plan awards</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">r<i><b>)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Stock incentive plan awards: </b></i>Stock based compensation represents the cost of vested and non-vested shares and share options granted to employees and to directors, for their services, and is included in &#147;General and administrative expenses&#148; in the consolidated statements of operations. The shares are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. Guidance related to stock compensation describes two generally accepted methods of recognizing expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the ''accelerated method'', which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award and 2) the ''straight-line method'' which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated method.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The fair value of share options 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>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DryDockingCostsPolicyTextBlock', window );">Dry docking and special survey expenses</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>s)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Dry docking and special survey expenses: </b></i>Dry docking and special survey expenses are expensed when incurred.</font></div>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_RevenueExpenseRecognitionPolicyTextBlock', window );">Accounting for revenue and related expenses</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>t)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Accounting for revenue and related expenses: </b></i>The Company generates its revenues from charterers for the charterhire of its vessels under time charter agreements, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charterhire rate, or voyage charter agreements, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified freight rate per ton.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Under time charter agreements, voyage costs, such as fuel and port charges are borne and paid by the charterer. Company's time charter agreements are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with guidance related to leases.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Revenue from voyage charter agreements is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter agreements and is recognized when an arrangement exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue includes cash received prior to the balance sheet date and is related to revenue to be earned after such date. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any) as long term liability.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Payments in advance for services are recorded as prepaid expenses.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Voyage expenses consist of bunker consumption, port expenses and agency fees related to the voyage. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Brokerage commissions are paid by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses and vessel operating expenses are recognized as incurred.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Expenses related to the chartering-in of vessels owned by third parties are recognized on a pro-rata basis over the duration of the voyage, except for the hire expense for chartering-in the respective vessels, which is included within &#147;Charter in hire expense&#148; in the consolidated statement of operations. </font></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_FairValueOfFinancialInstrumentsPolicy', window );">Fair value measurements</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>u)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Fair value measurements: </b></i>The Company follows the provisions of ASC 820, &#147;Fair Value Measurements and Disclosures&#148; that defines and provides guidance as to the measurement of fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entity's own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 19).</font></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_EarningsPerSharePolicyTextBlock', window );">Earnings/ (loss) per share</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>v)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Earnings/ (loss) per share</b></i><b>:</b> Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average number of common shares outstanding and vested during the period. Diluted earnings per share reflect the potential dilution assuming that common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and the hypothetical proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note 14).</font></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_SegmentReportingPolicyPolicyTextBlock', window );">Segment reporting</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>w)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Segment reporting:</b></i> The Company reports financial information and evaluates its operations and operating results by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the Chief Operating Officer, who is the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment, that of operating dry bulk vessels. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.</font></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_LeasePolicyTextBlock', window );">Accounting for leases</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>x)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<b>Accounting for leases</b>: Leases of assets under which substantially all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Lease payments under an operating lease are recognized as an expense on a straight-line method over the lease term. As of December 31, 2015, the Company held no operating lease arrangements acting as lessee other than its office leases and an operating lease arrangement for one Supramax vessel (Note 5). </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Leases of vessels are classified as capital leases when they satisfy the criteria for capital lease classification under ASC 840, &#147;Leases&#148;. As of December 31, 2015 the Company was the lessee under certain capital lease arrangements as further discussed in Notes 5 and 6. 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 incurred under a capital lease is included within &#147;Interest and finance costs&#148; in the consolidated statement of operations. The depreciation of vessels under capital lease is included within &#147;Depreciation&#148; in the consolidated statement of operations. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">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, vessels under capital lease are depreciated on a straight-line basis over the term of the lease.</font></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_DerivativesPolicyTextBlock', window );">Derivatives</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>y)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<b>Derivatives</b>: The Company enters into derivative financial instruments to manage risk related to fluctuations of interest rates. In case the instruments are eligible for hedge accounting, at the inception of a hedge relationship, the Company formally designates and documents the hedge relationship to which the Company wishes to apply hedge accounting and the risk management objective and strategy undertaken for the hedge. The documentation includes identification of the hedging instrument, the hedged item or transaction, the nature of the risk being hedged and how the entity will assess the hedging instrument's effectiveness in offsetting exposure to changes in the hedged item's cash flows attributable to the hedged risk. A cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with a recognized asset or liability, or a highly probable forecasted transaction that could affect profit or loss. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed at each reporting date to determine whether they actually have been highly effective throughout the financial reporting periods for which they were designated. All derivatives are recorded on the balance sheet as assets or liabilities and are measured at fair value. For derivatives designated as cash flow hedges, the effective portion of the changes in their fair value is recorded in Accumulated other comprehensive income / (loss) and is subsequently recognized in earnings, under &#147;Interest and finance costs&#148; when the hedged items impact earnings, while the ineffective portion, if any, is recognized immediately in current period earnings under &#147;Gain / (Loss) on derivative financial instruments, net&#148;. </font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">The changes in the fair value of derivatives not qualifying for hedge accounting are recognized in earnings. The Company discontinues cash flow hedge accounting if the hedging instrument expires or is sold, terminated or exercised and it no longer meets all the criteria for hedge accounting or if the Company de-designates the instrument as a cash flow hedge. At that time, any cumulative gain or loss on the hedging instrument recognized in equity remains in equity until the forecasted transaction occurs or until it becomes probable of not occurring. When the forecasted transaction occurs, any cumulative gain or loss on the hedging instrument is recognized in earnings. If a hedged transaction is no longer expected to occur, the net cumulative gain or loss recognized in equity is reclassified to earnings for the year. Following the hedging designations made during the third quarter of 2014 (Note 19), all of the Company's interest rates swaps effective as of December 31, 2014 were designated as accounting hedges. Only four out of the nine of the Company's interest rate swaps effective as of December 31, 2015 remained designated as accounting hedges as of that date. No hedge accounting was applied in prior periods.</font></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_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent accounting pronouncements:</a></td>
<td class="text"><div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>z)</b></i>&#160;&#160;&#160;&#160;&#160;&#160;<i><b>Recent accounting pronouncements -&#160;not yet adopted:</b></i></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-top:8.0px;text-indent:-48.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>&#160;</b></i></font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Revenue from Contracts with Customers (Topic 606)</b></i>: On May 28, 2014, the FASB issued Accounting Standards Update (&#147;ASU&#148;) 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 (Topic 606)</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-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Presentation of Financial Statements - Going Concern:</b></i> In August 2014, the FASB issued ASU 2014-15, <i>Presentation of Financial Statements - Going Concern</i>. ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 requires an entity's management to evaluate at each reporting period based on the relevant conditions and events that are known at the date when financial statements are issued, whether there are conditions or events, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued and to disclose the necessary information. The guidance is effective for annual periods ending after December&#160;15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this ASU is not expected to have a material effect on the Company's consolidated financial statements and accompanying notes.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Simplifying the Presentation of Debt Issuance Costs</b></i>: In April&#160;2015, the FASB issued ASU No. 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 existing 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-left: 48.0px;margin-bottom:5.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Consolidation (Topic 810) - Amendments to the Consolidation Analysis:</b></i> In February&#160;2015, the FASB issued ASU 2015-02, &#147;Consolidation (Topic 810) - Amendments to the Consolidation Analysis&#148;, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December&#160;15, 2015. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption of ASU 2015-02 on the consolidated financial statements.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Technical Corrections and Improvements</b></i>: In June&#160;2015, FASB issued ASU No. 2015-10, <i>Technical Corrections and Improvements. </i>The amendments in ASU 2015-10 cover a wide range of Topics in the ASC. The amendments in this update 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 ASU 2015-10, 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 ASU 2015-10. The amendments that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, and early adoption of those amendments is permitted, including adoption in an interim period. While the Company has not yet adopted the amendments of ASU 2015-10 that require transition guidance, their adoption is not expected to have a material effect on the Company's financial statements and accompanying notes. &#160;All other amendments were effective upon the issuance of ASU 2015-10. The adoption of those amendments has not had a material effect on the Company's financial statements and accompanying notes. &#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Simplifying the Measurement of Inventory:</b> </i>In July 2015, the FASB issued ASU No. 2015-11, &#147;<i>Simplifying the measurement of inventory</i>&#148;. ASC 330, &#147;Inventory&#148;, 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 ASU 2015-11 require an entity to measure inventory within the scope of ASU 2015-11 at the lower of cost and net realizable value. &#160;For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments in ASU 2015-11 are to 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 ASU 2015-11, 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-left: 48.0px;margin-bottom:12.0px;text-indent:96.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i><b>Leases: </b></i>In February 2016, the FASB issued Accounting Standards Update No. 2016-02, "Leases (Topic 842)". ASU 2016-02 will apply to both types of leases -&#160;capital (or finance) leases and operating leases. According to the new Accounting Standard, lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with term of more than 12 months. ASU 2016 -&#160;02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. The Company is currently assessing the impact that adopting this new accounting guidance will have on its consolidated financial statements and footnotes disclosures.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for advances 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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for dry docking 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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for administrative personnel pension plans of the Company.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding recognition of revenue and related expenses.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for vessels held for sale.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company 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.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<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_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</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>Disclosure of accounting policy for comprehensive 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;">us-gaap_ComprehensiveIncomePolicyPolicyTextBlock</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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accounting policy for credit risk.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 55<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6875567&amp;loc=d3e14489-108613<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51676700&amp;loc=d3e61082-112788<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28088331&amp;loc=SL29635902-196195<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51676700&amp;loc=d3e61044-112788<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_ConcentrationRiskCreditRisk</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>
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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 accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph k<br> -Article 1<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02, 03<br> -Article 3A<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_ConsolidationPolicyTextBlock</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> Data Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accounting policy for costs incurred to obtain or issue debt, the effects of refinancings, method of amortizing deferred financing costs and original issue discount, and classifications of debt on the balance sheet.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<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_DebtPolicyTextBlock</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>
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<td><strong> Period Type:</strong></td>
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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>Disclosure of accounting policy for its derivative instruments and hedging 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41620-113959<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(n))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579240-113959<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579245-113959<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41675-113959<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=d3e41638-113959<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_DerivativesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_EarningsPerSharePolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<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_EarningsPerSharePolicyTextBlock</td>
</tr>
<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 accounting policy for the equity method of accounting for investments in common stock or other interests including unconsolidated subsidiaries, corporate joint ventures, noncontrolling interests in real estate ventures, limited partnerships, and limited liability companies. The accounting policy may include information such as: (1) initially recording an investment in the stock of an investee at cost; (2) adjusting the carrying amount of the investment to recognize the investor's share of the earnings or losses of the investee after the date of acquisition; and (3) adjustments to reflect the investor's share of changes in the investee's capital (dividends). This disclosure may also include a detailed description of the policy for determining the amount of equity method losses recognized after an investment has been reduced to zero as a result of previous losses, reasons for not using the equity method when the investor company owns 20 percent or more of the voting stock of the investee's company (including identification of the significant investee), reasons for using the equity method when the ownership percentage is less than 20 percent, and discussion of recognition of equity method losses when an investor's total investment in an investee includes, in addition to an investment in common stock, other investments such as preferred stock and loans to the investee. An entity also may describe how such investments are assessed for impairment.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<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_EquityMethodInvestmentsPolicy</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfFinancialInstrumentsPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accounting policy for determining the fair value of financial 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13279-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 60<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<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_FairValueOfFinancialInstrumentsPolicy</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>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<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_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock</td>
</tr>
<tr>
<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>Disclosure of accounting policy for the impairment and disposal of long-lived assets including goodwill and other intangible assets.</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_ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock</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>Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_IntangibleAssetsFiniteLivedPolicy</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>
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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_InventoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4492-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4556-108314<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 206<br> -Paragraph b<br> -Subparagraph i, ii<br> -Chapter 2<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 6<br> -Subparagraph a<br> -Article 5<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_InventoryPolicyTextBlock</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>Disclosure of accounting policy for leasing arrangements (both lessor and lessee). This disclosure may address (1) lease classification (that is, operating versus capital), (2) how the term of a lease is determined (for example, the circumstances in which a renewal option is considered part of the lease term), (3) how rental revenue or expense is recognized for a lease that contains rent escalations, (4) an entity's accounting treatment for deferred rent, including that which arises from lease incentives, rent abatements, rent holidays, or tenant allowances (5) an entity's accounting treatment for contingent rental payments and (6) an entity's policy for reviewing, at least annually, the residual values of sales-type and direct-finance leases. The disclosure also may indicate how the entity accounts for its capital leases, leveraged leases or sale-leaseback transactions.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453394&amp;loc=d3e39740-112701<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6482485&amp;loc=d3e14754-158437<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456037&amp;loc=d3e48589-112741<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</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_NewAccountingPronouncementsPolicyPolicyTextBlock</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>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_PropertyPlantAndEquipmentPolicyTextBlock</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>Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6378556&amp;loc=d3e10133-111534<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e4975-111524<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3-5<br> -Article 5<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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<td style="white-space:nowrap;">us-gaap_ReceivablesPolicyTextBlock</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for segment reporting.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6061-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6143-108592<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6132-108592<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827014592">
<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">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_SchedulePurchasePriceAllocation1TableTextBlock', window );">Schedule Of Purchase Price Allocation</a></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><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:104px;"><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;July 11, 2014</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Assets</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Cash and cash equivalents</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ </b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;89,887</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Restricted cash</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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;6,381</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other current assets</font></div></td>
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  <tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;316,786</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Fair value of above market acquired charters</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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;1,967</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Liabilities</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,372</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Derivative financial liabilities</font></div></td>
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  <tr>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Net assets acquired</b></font></div></td>
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  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;616,272</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Gain from Bargain Purchase</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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,318</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:515px;height:15px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:104px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
</table>
<div></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_ResultsOfOperationsForCompaniesAcquiredTableTextBlock', window );">Results Of Operations For Companies Acquired</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:298px;height:25px;"><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:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Oceanbulk</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><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:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Pappas Companies</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Voyage revenues</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:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">39,585 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,249 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Operating income/(loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(645</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">111 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:298px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Net loss</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:100px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(4,822</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:47px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:31px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(213</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="ro">
<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>
<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:296px;height:15px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:48px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:32px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:130px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><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:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><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:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma revenues </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:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">82,090 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">177,654 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma operating loss</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(1,172</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(10,296</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma net loss </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(10,604</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(24,075</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:296px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pro forma loss per share, basic and diluted </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(0.15</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:48px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:32px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:130px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(0.27</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
</table>
<div></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_ListOfSubsidiariesTableTextBlock', window );">List of Subsidiaries</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:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:141px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:214px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Date</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Delivered to Star Bulk</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1 &#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:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sea Diamond Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Goliath (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">209,537</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></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:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Pearl Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Gargantua (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">209,529</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">3 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Coral Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Maharaj (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">209,472</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">4 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">L.A. Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Deep Blue (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,608</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">May 27, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">5 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Ocean Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Leviathan (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,511</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">6 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Horizon Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Peloreus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,496</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;22, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">7 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Positive Shipping Company</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Indomitable (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">182,476</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 8, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">8 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">OOCape1 Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Obelix (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">181,433</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">9 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sandra Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Pauline &#160;(ex Sandra) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2008</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">10 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Christine Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Martha (ex Christine) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2010</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">11 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Pacific Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Pantagruel (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">180,181</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">12 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Borealis LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Borealis</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">179,678</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;9, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">13 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Polaris LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Polaris</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">179,600</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November&#160;14, 2011</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">14 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident V LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Angie (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">177,931</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">15 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sky Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Big Fish (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">177,643</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">16 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Global Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Kymopolia (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">176,990</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">17 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Sea Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Big Bang (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">174,109</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">18 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Aurora LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Aurora</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">171,199</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;8, 2010</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">19 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Lowlands Beilun Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Despoina &#160;(ex Lowlands Beilun) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">170,162</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">20 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident VII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Eleonora (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 3, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">21 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident VI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Monisha (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">22 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Nautical Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Amami (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">23 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Majestic Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Madredeus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">24 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Sirius LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Sirius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March&#160;7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">25 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Vega LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Vega</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February&#160;13, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">26 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Alta I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Angelina (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,981</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 5, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">27 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Alta II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Gwyneth (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,790</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">28 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Kamila (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,769</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;3, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">29 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Grain Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Pendulum (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,619</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">30 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XIX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Maria (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,598</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November 5, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">31 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Markella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,594</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">32 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident IX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Danai (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,574</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 21, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">33 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Georgia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,298</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">34 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident VIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Sophia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,269</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 31, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">35 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XVI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Mariella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,266</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">36 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XIV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Moira (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,257</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November 19, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">37 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XVIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Nina (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,224</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 5, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">38 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident X LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Renee (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,221</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 18, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">39 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Nasia &#160;(2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,220</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">40 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Laura (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,209</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 8, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">41 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Jennifer (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 15, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">42 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XVII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Helena (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">82,187</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December 29, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">43 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Mineral Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Mercurial Virgo (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">81,545</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">44 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">KMSRX Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Magnum Opus (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">81,022</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">45 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Dioriga Shipping Co.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Tsu Ebisu (1), (4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">81,001</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">46 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident&#160;III LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Iris (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">76,466</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;8, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">47 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident IV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Aline (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">76,429</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;4, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">48 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Emily (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">76,417</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">September&#160;16, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">49 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XXV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Vanessa (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">72,493</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">November 7, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">50 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Spring Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Idee Fixe (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,458</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 25, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">51 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Orion Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Roberta (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,426</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 31, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">52 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Success Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Laura (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,399</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 7, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">53 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Kaley (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">63,283</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">June 26, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">54 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Challenger&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Challenger</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,462</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;12, 2013</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">55 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Challenger&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Fighter</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,455</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;30, 2013</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">56 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Aurelia Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Honey Badger (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,320</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 27, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">57 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Rainbow Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Wolverine (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,292</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">58 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Axe&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Antares</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">61,258</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 9, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">59 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Asia&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Aquarius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">60,916</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 22, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">60 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Asia&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Pisces</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">60,916</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">August 7, 2015</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">61 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Glory Supra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Strange Attractor (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">55,742</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">62 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Omicron LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Omicron</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">53,489</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April&#160;17, 2008</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">63 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Gamma LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Gamma </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">53,098</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January&#160;4, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2002</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Zeta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Zeta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,994</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January&#160;2, 2008</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">65 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Delta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Delta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,434</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">66 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Theta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Theta </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,425</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;6, 2007</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">67 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Epsilon LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Epsilon </i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,402</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;3, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">68 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Cosmo LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Cosmo</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,246</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July&#160;1, 2008</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">69 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Kappa LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Kappa</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</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:Calibri;font-size:12.0px;color:#000000; ">52,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">December&#160;14, 2007</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>&#160;</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">70 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:141px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Trident XXX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:214px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><i>Star Michele (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">45,588</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:89px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">October 14, 2014</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:39px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1998</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:19px;height:15px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:141px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:214px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Total dwt</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>7,362,579</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:89px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;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:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:39px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:4.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(3)&#160;&#160;&#160;&#160;&#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:Calibri;font-size:13.3px;color:#000000; ">(4) &#160;&#160;Vessels agreed to be sold (Note 20) </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-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:26px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Newbuildings Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; "><b>Expected Delivery Date</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">1 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Ennea LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN NE 198 (tbn <i>Star Poseidon</i>) (Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">2 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Seeker LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1372 (tbn <i>Star Libra</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">3 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Clearwater Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1359 (tbn <i>Star Marisa</i>) (5) (Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">4 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Castle&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1342 (tbn <i>Star Gemini</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">July 2017</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">5 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Domus Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1360 (tbn <i>Star Ariadne</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2017</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">6 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Breezer LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1371 (tbn <i>Star Virgo</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2017</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">7 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Castle&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1343 (tbn <i>Star Leo</i>) (7)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2018</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">8 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Festive Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1361 (tbn <i>Star Magnanimus</i>) (5)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2018</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">9 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Confidence Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 5055 <i>(</i>tbn<i> Behemoth) </i>(6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">10 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Cape Runner Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 5056 <i>(</i>tbn<i> Megalodon) </i>(6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">11 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Olympia Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1312 <i>(</i>tbn<i> Bruno Marks) </i>(6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">12 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Victory Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1313 <i>(</i>tbn<i> Jenmark)</i> (6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">13 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Cape&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1338 (tbn <i>Star Aries</i>) (6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">February 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">14 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Cape&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1339 (tbn <i>Star Taurus</i>) (6)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">15 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Blooming Navigation LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1080 <i>(</i>tbn<i> Kennadi) </i>(Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">16 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Jasmine Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1081 <i>(</i>tbn<i> Mackenzie) </i>(Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">17 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Oday Marine LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1082 <i>(</i>tbn<i> Night Owl)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">18 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Searay Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN 1083 <i>(</i>tbn<i> Early Bird)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">19 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:191px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Star Axe&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:232px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">HN NE 197 (tbn <i>Star Lutas</i>) (Note 20)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">61,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:12.0px;color:#000000; ">January 2016</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:4.0px;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(5)&#160;&#160;&#160;&#160;&#160;&#160;Subject to a bareboat capital lease (Note 6)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(6)&#160;&#160;&#160;&#160;&#160;&#160;Newbuilding vessels agreed to be sold (Note 20) </font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(7)&#160;&#160;&#160;&#160;&#160;&#160;Newbuilding vessel agreed to be sold and chartered back under a capital 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:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk Management Inc.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Starbulk S.A.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk Manning LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk Shipmanagement Company (Cyprus) Limited</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Optima Shipping Limited</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Omas LLC </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Synergy LLC </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Carriers LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">International Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Unity Holding LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Bulk (USA) LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXI LLC (8)<sup> </sup></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXIV LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXVII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXXI LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXIX LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXVIII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXVI LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Lamda LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Trident XXIII LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Alpha LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Beta LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Ypsilon LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Mega LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Star Big LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Gravity Shipping LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">White Sand Shipping LLC (8)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:351px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Premier Voyage LLC (8)</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(8)&#160;&#160;&#160;&#160;&#160;&#160;Owning companies of vessels which have been sold and currently have no operations</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;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_ListVesselsUnderCommercialTechnicalManagementTableTextBlock', window );">List of vessels under commercial and technical management by Starbulk S.A.</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessel Owning Company</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:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessel Name</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:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>DWT</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:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>Agreement</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:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <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:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Global Cape Shipping LLC (10)</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:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Kymopolia</i></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:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">176,990</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:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">January&#160;30, 2014</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:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">OOCAPE1 Holdings LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pacific Cape Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Sea Cape Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Sky Cape Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">177,643</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:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Majestic Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Nautical Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Grain Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Mineral Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Renascentia</i>(11)</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:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Marto</i> (12)</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:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Glory Supra Shipping LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Premier Voyage LLC (10)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <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:196px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Serenity Maritime Inc.</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:128px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Serenity I</i></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:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">53,688</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:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">June&#160;11, 2011</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:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(10)&#160;&#160;&#160;&#160;&#160;&#160;These companies were subsidiaries of Oceanbulk and related parties to the Company (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:12.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(11) &#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:5.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(12) &#160;&#160;&#160;&#160;&#160;&#160;On July&#160;3, 2014, the Company received a notice of termination of the management agreement for this vessel. The management agreement was terminated upon the vessel's delivery to its new managers, on August&#160;20, 2014. &#160;The Company received 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:5.0px;"></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_ScheduleOfSaleLeasebackTransactionsTextBlock', window );">Schedule of Sale Leaseback 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="middle" style=" border:solid #000000 0.0px;width:136px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>Vessel Name</u></b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>Type</u></b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>DWT</u></b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b><u>Year Built</u></b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><i>Astakos</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">Supramax</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:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">58,722</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b>Total dwt:</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:136px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; "><b>58,722</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:136px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri Light;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock', window );">Charter Revenue Percentage</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:68px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Charterer</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2013</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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">A</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">13%</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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">12%</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:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">4%</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:68px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></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:Calibri;font-size:14.7px;color:#000000; ">34%</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">12%</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">3%</font></div></td>
  </tr>
</table>
<div></div><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>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><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ListNonVesselOwningSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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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<tr>
<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>
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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 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>
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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_sblk_ResultsOfOperationsForCompaniesAcquiredTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 results of operations for companies acquired, since the acquisition 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_ResultsOfOperationsForCompaniesAcquiredTableTextBlock</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> Data Type:</strong></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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_SchedulePurchasePriceAllocation1TableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 all of the fair values of the purchase price and assets and liabilities acquired in a business combination.</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_SchedulePurchasePriceAllocation1TableTextBlock</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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<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)-(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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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<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_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.</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_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<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_ScheduleOfSaleLeasebackTransactionsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 leases entered into in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller was accounted for as an operating or capital lease. If the sale of the asset(s) did not meet the requirements to be accounted for as a sale whether the transaction was accounted for using the deposit method or as a financing.  Disclosure may also include a description of the terms of the sale-leaseback transaction, including future commitments, obligations, provisions, or circumstances that require or result in the seller-lessee's continuing involvement.  For leasing transactions involving "Special Purpose Entities"', disclosure may include a general description of the significant terms of the leasing arrangement including renewal or purchase options, escalation clauses, obligations with respect to refinancing of the lessor's debt, significant penalties and the provisions of any significant guarantees, such as residual value guarantees.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6456377&amp;loc=d3e50824-112756<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_ScheduleOfSaleLeasebackTransactionsTextBlock</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6631555728">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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_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-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:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Balance Sheet</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></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:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Assets</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates (d)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">241</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">1,209</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Product Shipping &amp; Trading S.A (f)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">4</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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Assets</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>245</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1,209</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Liabilities</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interchart Shipping Inc. (a)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">8</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Combine Marine Ltd (c)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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: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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">9</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates (d)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">33</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Management and Directors Fees (b)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;462 </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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">315</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Managed Vessels of Oceanbulk Shipping LLC (e )</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9 </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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">7</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Oceanbulk Sellers (Note 17.2) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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;"><font style="font-family:Calibri;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:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,689</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;"><font style="font-family:Calibri;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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">50</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:456px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Liabilities</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:63px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2,166</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>422</b></font></div></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-top:8.0px;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:13.3px;"></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:450px;height:16px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:59px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:16px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Excel Vessel Bridge Facility -&#160;current portion (h) </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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">8,168</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#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:450px;height:16px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Excel Vessel Bridge Facility -&#160;non current portion (h) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">47,993</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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#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:450px;height:16px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Total Excel Vessel Bridge Facility</b></font><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:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>56,161</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>$</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:59px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</b></font></div></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-top:8.0px;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="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Capitalized Expenses</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:60px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Advances for vessels under construction and acquisition of vessels</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</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:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:450px;height:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (d)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:65px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1,038</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1,318</font></div></td>
  </tr>
</table>
<div><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="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Statements of Operations</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;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:22px;"><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:53px;"><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: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:22px;"><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:57px;"><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: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:22px;"><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:57px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;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:22px;"><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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">2013</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:solid #000000 1.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">2014</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:solid #000000 1.0px;width:22px;"><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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">2015</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Commission on sale of vessel-Oceanbulk (d)</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Executive directors consultancy fees (b)</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(1,516) &#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Non-executive directors compensation (b)</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Office rent - Combine Marine Ltd. (c )</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(41) &#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(42) &#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:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(35) &#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Voyage expenses-Interchart (a)</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(773) &#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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(1,997) &#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(158) &#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(1,659) &#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">188 &#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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Management fee income - Managed Vessels of Oceanbulk Shipping LLC (e )</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">823 &#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:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1,390 &#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:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:358px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Management fee income Product Shipping &amp; Trading S.A. (f)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:53px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">242 &#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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">62 &#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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
  </tr>
</table>
<div></div><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_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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R32.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825722928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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_ScheduleOfInventoryCurrentTableTextBlock', window );">Schedule of inventories</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:108px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,853</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">7,438</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,809</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:108px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>14,368</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:110px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>14,247</b></font></div></td>
  </tr>
</table>
<div></div><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_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>
</tr>
<tr>
<td style="padding-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_ScheduleOfInventoryCurrentTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 2<br> -Paragraph 6<br> -Subparagraph a,b,c<br> -Article 5<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_ScheduleOfInventoryCurrentTableTextBlock</td>
</tr>
<tr>
<td style="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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<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">
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							if (e.nextSibling.style.display=='none') {
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							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6809178400">
<tr>
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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_PropertyPlantAndEquipmentTextBlock', window );">Schedule of vessels and other fixed assets, net</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:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Cost</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,641,603</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,025,688</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other fixed assets</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-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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,683</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-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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,810</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total cost</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,643,286</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:Calibri;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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,027,498</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Accumulated depreciation</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-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:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(201,435</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><font style="font-family:Calibri;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:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(269,946</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:20px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessels and other fixed assets, net</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1,441,851</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:69px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>1,757,552</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 );">Capital lease obligations, 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:338px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Years</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">11,437</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">12,370</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;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:Calibri;font-size:13.3px;color:#000000; ">51,832</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>101,559</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excluding bareboat interest </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">22,039</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total lease commitments</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>79,520</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Lease commitments -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:25px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">4,490</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:338px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">75,030</font></div></td>
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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>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6785153936">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract', window );"><strong>Advances for vessels under construction and acquisition of vessels [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<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="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Pre-delivery yard installments and 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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;408,870 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;65,009 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Bareboat capital leases -&#160;upfront hire &amp; handling fees</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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;">&#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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;54,428 </font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,301 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other capitalized costs (Note 3)</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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;">&#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,172 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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;"><font style="font-family:Calibri;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:Calibri;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:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;79 </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:Calibri;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:Calibri;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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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;">&#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:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:92px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;454,612 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:85px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;127,910 </b></font></div></td>
  </tr>
</table>
<div></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_AdvancesForVesselsAcquisitionsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 for advances paid to yard and capitalized expenses for the acquisition 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_AdvancesForVesselsAcquisitionsTableTextBlock</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_sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract</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>
<DOCUMENT>
<TYPE>XML
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<FILENAME>R35.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827925648">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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>
<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:269px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Year</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:196px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:196px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">254</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:269px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:196px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>254</b></font></div></td>
  </tr>
</table>
<div></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_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>
</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_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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>
</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>nonnum:textBlockItemType</td>
</tr>
<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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<DOCUMENT>
<TYPE>XML
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<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826590624">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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:397px;height:13px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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;"><font style="font-family:Calibri;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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Commerzbank $120,000 and $26,000 facilities</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">74,680</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;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:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">44,417</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">54,968</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">51,028</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">12,800</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">29,600</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">22,047</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">33,187</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">30,771</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">36,660</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">33,540</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">ABN $87,458 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">76,689</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">55,158</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Deutsche Bank $85,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">82,708</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">77,042</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">HSBC $86,600 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">83,490</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">77,270</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">CEXIM $57,360 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">HSBC $20,000 Dioriga Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">19,300</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">17,900</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">NIBC $32,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">29,966</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">BNP $32,480 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">32,480</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">30,331</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excel Vessel Bridge Facility </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">56,161</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">DVB $24,750 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">24,750</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">21,150</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excel Vessel CiT Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">30,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Sinosure Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">52,165</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Citi Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">51,478</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">80,554</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Heron Vessels Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">24,567</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">21,589</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">DNB $120,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">88,275</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">98,051</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">DVB $31,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">27,727</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:29px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">91,032</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8.00% 2019 Notes</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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;50,000 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:23px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:397px;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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:80px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>861,793</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><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:Calibri;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:84px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>911,738</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 );">Long-term debt, 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:466px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Years</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:30px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">112,873</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">87,826</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">184,886</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">326,573</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">53,620</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">December 31, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">145,960</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total (including 8.00% 2019 Notes)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>911,738</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:16px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Excluding 8.00% 2019 Notes </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:46px;"><div style="text-indent:13.3px;">&#160;</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:30px;"><div style="text-indent:0.0px;">&#160;</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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:466px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:46px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>861,738</b></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:239px;height:13px;"><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:72px;"><div style="text-align:center;text-indent:0.0px;">&#160;</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:center;text-indent:0.0px;">&#160;</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>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <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;height:14px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></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;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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;">&#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:28px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interest on long term debt </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-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,786 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">15,362 &#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:Calibri;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:28px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">35,969 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Less: Interest capitalized </font></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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(633) &#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: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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(7,838) &#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:solid #000000 0.0px;width:28px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(12,079) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:39px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#151;</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,055 &#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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:28px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,416 &#160;</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Amortization of deferred finance charges </font></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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">522 &#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: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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">681 &#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:solid #000000 0.0px;width:28px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,732 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">139 &#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:Calibri;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:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">315 &#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:Calibri;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:28px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">623 &#160;</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:239px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:21px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>6,814</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:Calibri;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-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>9,575</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:28px;"><div style="text-indent:13.3px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>29,661</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>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<tr>
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Equity Incentive Plans [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_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Restricted Shares, Activity</a></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:46px;"><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:14px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Number of shares</b></font></div></td>
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    <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;">&#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:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><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: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:solid #000000 0.0px;width:72px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:solid #000000 0.0px;width:22px;"><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:solid #000000 0.0px;width:108px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at January 1, 2013</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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">18,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">36.75</font></div></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">279,333</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">6.43</font></div></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Vested</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(21,333</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">19.71</font></div></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at December 31, 2013</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">276,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">7.46</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="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:14px;"><div style="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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at January 1, 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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">276,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">7.46</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">586,009</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.85</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Vested</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(449,842</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">8.94</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Cancelation of shares due to termination agreement with former CEO</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:14px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(18,667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></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:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">6.2</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at December 31, 2014</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">394,167</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="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:14px;"><div style="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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><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:72px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:108px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at January 1, 2015</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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">394,167</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">676,150</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">3.55</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Vested</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">(394,167</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:360px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Unvested as at December 31, 2015</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:14px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:72px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">676,150</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:52px;"><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:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:108px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">3.55</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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Stock Options, Activity</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:244px;height:31px;"><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-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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Shares</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;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:22px;"><div style="text-align:center;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:126px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Weighted&#160;average exercise price</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;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:22px;"><div style="text-align:center;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:127px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
  </tr>
  <tr>
    <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:244px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Options</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:126px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:127px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <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:244px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Outstanding at January 1, 2015</font></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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:126px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:127px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">-</font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">Granted</font></div></td>
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    <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:Calibri;font-size:14.7px;color:#000000; ">521,250</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:126px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">5.5</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:127px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">1.4121</font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:244px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>Outstanding as of December 31, 2015</b></font></div></td>
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    <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:Calibri;font-size:14.7px;color:#000000; "><b>521,250</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
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    <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:126px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>5.5</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:127px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; "><b>1.4121</b></font></div></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">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the 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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6823103376">
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<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">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 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>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Income / (Loss):</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Net &#160;income / (loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,850</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(11,723</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(458,177</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Basic earnings / (loss) per share:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">14,051,344 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">58,441,193 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">195,623,363 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Basic earnings / (loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>0.13 &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(0.20) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(2.34) &#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Dillutive effect of non vested shares</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">65,045 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">14,116,389 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">58,441,193 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">195,623,363 &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:238px;height:16px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Diluted earnings / (loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-indent:133.3px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>0.13</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(0.20)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:13px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:77px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(2.34)</b></font></div></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>
<td><strong> Name:</strong></td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827925648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accrued liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#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-indent:0.0px;"><font style="font-family:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2014</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:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Audit fees</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-indent:0.0px;"><font style="font-family:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">432</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">386</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Legal fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,149</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">449</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Other professional fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">350</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">26</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;Vessel Operating and voyage expenses</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8,477</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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">9,555</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Loan interest and financing fees</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:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">3,330</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:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">4,357</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Accrued Liabilities</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-indent:0.0px;"><font style="font-family:Calibri;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:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>13,738</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:24px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:120px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>14,773</b></font></div></td>
  </tr>
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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">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of accrued liabilities.</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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6625517888">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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="middle" style=" border:solid #000000 0.0px;width:75px;height:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" colspan="19" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:591px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>Twelve month periods ending December&#160;31,</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:26px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><i>Plus inflows/ minus outflows</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><i>&#160;</i></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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><i>&#160;</i></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:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>Total</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2016</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2017</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2018</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2019</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2020</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:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>2021 and thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:26px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Future, minimum, non-cancellable charter revenue (1) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">34,784 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">33,695 &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">1,089 &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:75px;height:40px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Future, minimum, non-cancellable lease payment under vessel operating leases (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(5,949) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(3,605) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(2,344) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:75px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Office rent</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(1,687) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(256) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(256) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(255) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(252) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(247) &#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:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(421) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:34px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Bareboat capital leases - upfront hire &amp; handling fees (3)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(7,477) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(6,469) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(672) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(336) &#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:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">&#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:75px;height:26px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">Bareboat commitments charter hire (4) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;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:20px;"><div style="text-align:justify;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:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(282,474) &#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:20px;"><div style="text-align:justify;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:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(7,126) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(16,951) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(21,388) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(21,291) &#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:20px;"><div style="text-align:justify;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(21,774) &#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:20px;"><div style="text-align:justify;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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; ">(193,944) &#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:75px;height:14px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>Total</b> </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:56px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(262,803) </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:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:45px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>16,239 &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(19,134) &#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:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(21,979) &#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>$</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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(21,543) &#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:Calibri;font-size:10.7px;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:20px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;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:51px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(22,021) &#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:Calibri;font-size:10.7px;color:#000000; "><b>&#160;</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:60px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:10.7px;color:#000000; "><b>(194,365) &#160;</b></font></div></td>
  </tr>
  <tr>
    <td style="width:75px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:56px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:45px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:51px;"></td>
    <td style="width:17px;"></td>
    <td style="width:20px;"></td>
    <td style="width:60px;"></td>
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<div><font style="font-family:Calibri;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;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the minimum contractual charter revenues to be generated from the existing, as of December 31, 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.</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;(2)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the operating lease arrangement for Maiden Voyage disclosed in 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:Calibri;font-size:13.3px;color:#000000; ">(3)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire fee and handling fees for those vessels being, as of December 31, 2015, under construction. </font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(4)&#160;&#160;&#160;&#160;&#160;&#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of December 31, 2015, under construction discussed in Note 6, as well as those commitments under bareboat lease agreements discussed in Note 5. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month LIBOR of 0.846%, as of December 31, 2015 (please refer to Note 6).</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the aggregate amount of payments due on known contractual obligations for the five years following the date of the latest balance sheet and the combined aggregate amount of maturities of known contractual 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-K (SK)<br> -Number 229<br> -Section 303<br> -Paragraph a<br> -Subparagraph 5<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825623328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage and Vessel operating expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VoyageExpensesTableTextBlock', window );">Voyage expenses</a></td>
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<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Voyage &#160;expenses</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Port charges &#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;&#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-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">1,455</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">5,132</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">17,619</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Bunkers</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">4,338</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">33,146</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">48,535</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Commissions -&#160;third parties </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">867</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">1,902</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,915</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Commissions -&#160;related parties (Note 3)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">773</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">1,997</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">3,350</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Miscellaneous</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">116</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">164</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">458</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total voyage expenses &#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;</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>7,549</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>42,341</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>72,877</b></font></div></td>
  </tr>
</table>
<div></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_VesselOperatingExpensesTableTextBlock', window );">Vessel operating expenses</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:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Vessel operating expenses</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:Calibri;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Crew wages and related costs &#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-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">$</font></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:Calibri;font-size:13.3px;color:#000000; ">14,355</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">29,449</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">65,402</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Insurances</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">2,968</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">4,561</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8,026</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Maintenance, repairs, spares and stores</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">5,772</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">9,415</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">18,577</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Lubricants</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">2,339</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">3,901</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">8,187</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Tonnage taxes</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">797</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">1,360</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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">3,717</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Upgrading expenses</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">205</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></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:Calibri;font-size:13.3px;color:#000000; ">3,167</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:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">6,205</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:15px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Miscellaneous</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">651</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">1,243</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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">2,682</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:268px;height:18px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total vessel operating expenses &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>27,087</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>53,096</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:Calibri;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:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>112,796</b></font></div></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for Vessel Operating expenses (crew wages and related costs, insurances, repairs, spares and maintenance, consumable stores, tonnage taxes, miscellaneous).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for Voyage expenses (Port charges, bunkers, commissions charged by third parties, commissions charged by related 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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825621696">
<tr>
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 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_FairValueDisclosuresAbstract', window );"><strong>Fair value measurements [Abstract]</strong></a></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_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock', window );">Derivative instruments effect on statement of operations</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" rowspan="2" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Consolidated Statement of Operations</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;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="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:justify;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="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <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;height:15px;"><div style="text-align:justify;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2013</b></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-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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Gain/(loss) on derivative instruments, 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:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:Calibri;font-size:13.3px;color:#000000; ">91 </font></div></td>
    <td valign="bottom" 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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(799</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:Calibri;font-size:13.3px;color:#000000; ">&#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:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:13.3px;color:#000000; ">3,443 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015) </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" 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:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:Calibri;font-size:13.3px;color:#000000; ">(4,918</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:44px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;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)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:Calibri;font-size:14.7px;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:Calibri;font-size:14.7px;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:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; ">(1,793</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Ineffective portion of cash flow hedges</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-align:justify;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;">&#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:22px;"><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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><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:22px;"><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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) on derivative instruments, 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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>91 </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:Calibri;font-size:13.3px;color:#000000; "><b>(799)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>(3,268)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Interest and finance costs</b></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:22px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:66px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;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:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:66px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;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:22px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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:66px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:38px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)</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:Calibri;font-size:14.7px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:14.7px;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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(1,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:27px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)&#160;</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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:14.7px;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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">(2,416</font></div></td><td valign="middle"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:324px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) recognized</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:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;font-size:13.3px;color:#000000; "><b>91 </b></font></div></td>
    <td valign="bottom" 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-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-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(1,854)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:27px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:Calibri;font-size:13.3px;color:#000000; "><b>(5,684)</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_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Fair value measurements on a recurring basis</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:199px;height:38px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="9" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:438px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs (Level 2)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;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:17px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:200px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:51px;"><div style="text-align:center;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 0.0px;width:21px;"><div style="text-align:justify;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 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</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: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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:90px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:90px;"><div style="text-align:right;text-indent:0.0px;">&#160;</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;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</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:82px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interest rate swaps - asset position</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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:solid #000000 1.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;- </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total</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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>LIABILITIES</b></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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;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:Calibri;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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:25px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">Interest rate swaps - liability position (current and non-current)</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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">7,732 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$</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:solid #000000 1.0px;width:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">7,642 </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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">807 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:199px;height:15px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Total</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:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:90px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>7,732 </b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$</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:78px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,642 </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:Calibri;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:82px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>807 </b></font></div></td>
  </tr>
  <tr>
    <td style="width:199px;"></td>
    <td style="width:21px;"></td>
    <td style="width:90px;"></td>
    <td style="width:17px;"></td>
    <td style="width:90px;"></td>
    <td style="width:17px;"></td>
    <td style="width:21px;"></td>
    <td style="width:78px;"></td>
    <td style="width:17px;"></td>
    <td style="width:82px;"></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock', window );">Fair value measurements on a nonrecurring basis</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:236px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="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>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" colspan="14" style=" border:solid #000000 0.0px;width:673px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Fair Value Measurements Using</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"><div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Long-lived assets held and used</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Quoted Prices<br/>in Active<br/>Markets for<br/>Identical<br/>Assets<br/>(Level 1)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Significant<br/>Other<br/>Observable<br/>Inputs<br/>(Level 2)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Significant<br/>Unobservable<br/>Inputs<br/>(Level 3)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:68px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>Impairment <br/>loss</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"><div style="margin-left: 23.1px;text-indent:-10.7px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Vessels, net</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="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;"><font style="font-family:Calibri;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;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$ &#160;&#160;&#160;&#160;&#160;259,775</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$ &#160;&#160;&#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:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">$ &#160;&#160;145,631</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"><div style="margin-left: 23.1px;text-indent:-10.7px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><i>Advances for vessels under construction</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">36,152</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">158,532</font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:236px;"><div style="margin-left: 23.1px;text-indent:-10.7px;"><font style="font-family:Calibri;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:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#151;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:70px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;295,927</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><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:75px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#151;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:35px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:6px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; "><b>$ &#160;&#160;304,163</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 assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19296-110258<br></p></div>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6839972384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Estimated fair values of the significant assets acquired and liabilities assumed on the date of the acquisition (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 11, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_AssetsAbstract', window );"><strong>Assets</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 89,887<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="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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash', window );">Restricted cash</a></td>
<td class="nump">6,381<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther', window );">Other current assets</a></td>
<td class="nump">13,906<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross', window );">Advances for vessel acquisition and vessels under construction</a></td>
<td class="nump">316,786<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet', window );">Vessels</a></td>
<td class="nump">426,000<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter', window );">Fair value of above market acquired charters</a></td>
<td class="nump">1,967<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="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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets', window );">Total Assets acquired</a></td>
<td class="nump">854,927<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_LiabilitiesAbstract', window );"><strong>Liabilities</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites', window );">Current liabilities, excluding current portion of long term bank debt and derivative financial liabilities</a></td>
<td class="nump">12,372<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt', window );">Long-term debt, including current portion</a></td>
<td class="nump">208,237<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities', window );">Derivative financial liabilities</a></td>
<td class="nump">5,728<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="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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Total Liabilities assumed</a></td>
<td class="nump">226,337<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="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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Net assets acquired</a></td>
<td class="nump">628,590<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_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable', window );">Consideration paid in common shares for Oceanbulk and Pappas Companies (51,988,494 shares issued)</a></td>
<td class="nump">616,272<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_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Gain from Bargain Purchase</a></td>
<td class="nump">$ 12,318<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 12,318<span></span>
</td>
<td class="nump">$ 0<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 );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction, acquired at the acquisition 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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedConstructionInProgressGross</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 due within one year or within the normal operating cycle, if longer, assumed at the acquisition date, excluding current portion of long term bank debt and derivative financial liabilities.</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesExcludingCurrentPortionOfLongTermBankDebtAndDerivativeFinancialLiabilites</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 above 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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFairValueOfAboveMarketAcquiredTimeCharter</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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, assumed at the acquisition 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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLongTermDebt</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 restricetd cash acquired at the acquisition 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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRestrictedCash</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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 net of accumulated depreciation recognized as of the acquisition 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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredLiabilitiesAssumedVesselsNet</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_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationBargainPurchaseGainRecognizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<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_BusinessCombinationBargainPurchaseGainRecognizedAmount</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 equity interests of the acquirer, including instruments or interests issued or issuable in consideration for 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6578-128477<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6613-128477<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_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assets acquired at the acquisition 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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, acquired at the acquisition date. 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.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assets expected to be realized or consumed before one year or the normal operating cycle, if longer, acquired at the acquisition 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 financial liabilities assumed (as defined) which have been recognized as of the acquisition 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financial Liability<br> -URI http://asc.fasb.org/extlink&amp;oid=6513127<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=35744172&amp;loc=d3e2207-128464<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assumed at the acquisition 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities</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><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=35744172&amp;loc=d3e2207-128464<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<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_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAbstract">
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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>
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<DOCUMENT>
<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827381552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Results of operations since the acquisition date (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</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_VoyageRevenues', window );">Voyage revenues</a></td>
<td class="nump">$ 234,035<span></span>
</td>
<td class="nump">$ 145,041<span></span>
</td>
<td class="nump">$ 68,296<span></span>
</td>
</tr>
<tr class="ro">
<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">(425,574)<span></span>
</td>
<td class="num">(1,432)<span></span>
</td>
<td class="nump">8,343<span></span>
</td>
</tr>
<tr class="re">
<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 loss</a></td>
<td class="num">$ (458,177)<span></span>
</td>
<td class="num">(11,723)<span></span>
</td>
<td class="nump">$ 1,850<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="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_VoyageRevenues', window );">Voyage revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,585<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_OperatingIncomeLoss', window );">Operating income/(loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(645)<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 loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,822)<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 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="text">&#160;<span></span>
</td>
<td class="nump">2,249<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_OperatingIncomeLoss', window );">Operating income/(loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">111<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 loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (213)<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_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>
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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>
<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></div>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<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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<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>
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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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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></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 );">- 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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R45.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826786960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Pro Forma Consolidated Financial Information (Table) (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 177,654<span></span>
</td>
<td class="nump">$ 82,090<span></span>
</td>
</tr>
<tr class="re">
<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">(10,296)<span></span>
</td>
<td class="num">(1,172)<span></span>
</td>
</tr>
<tr class="ro">
<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">$ (24,075)<span></span>
</td>
<td class="num">$ (10,604)<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">$ (0.27)<span></span>
</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">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
</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>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_BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)-(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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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<td><strong> Balance Type:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)-(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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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<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> Balance Type:</strong></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_BusinessAcquisitionsProFormaRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)-(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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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<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_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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6853122800">
<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">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 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_PropertyPlantAndEquipmentByTypeAxis=sblk_GoliathMember', window );">Goliath</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">209,537<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 15, 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_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">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_GargantuaMember', window );">Gargantua</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">209,529<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="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="rh">
<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_MaharajMember', window );">Maharaj</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">209,472<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 15, 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_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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 (ex Sandra)</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_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="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">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_ChristineMember', window );">Star Martha (ex Christine)</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_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="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">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_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_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="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">2004<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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">177,643<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="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">2004<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_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="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="rh">
<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_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="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>
</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_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="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">2000<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 (ex Lowlands Beilun)</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_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="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">1999<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_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="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">2001<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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">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_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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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">1999<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="re">
<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">63,458<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="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="rh">
<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="ro">
<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">63,426<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="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="rh">
<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="re">
<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">63,399<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="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="rh">
<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="ro">
<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">63,283<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="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="rh">
<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="re">
<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">61,462<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="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="rh">
<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="ro">
<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">61,455<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="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="rh">
<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="re">
<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">61,320<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="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="rh">
<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="ro">
<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">61,292<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="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="rh">
<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_StarAntaresMember', window );">Star Antares</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">61,258<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 9, 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_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">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_StarAquariusMember', window );">Star Aquarius</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">60,916<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, 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_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">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_StarPiscesMember', window );">Star Pisces</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">60,916<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 7, 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_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">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_StrangeAttractorIMember', window );">Strange Attractor</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">55,742<span></span>
</td>
<td class="nump">55,742<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="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="rh">
<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="re">
<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">53,489<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="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="rh">
<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</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">53,098<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="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="rh">
<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</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">52,994<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="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="rh">
<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</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">52,434<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="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="rh">
<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</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">52,425<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="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="rh">
<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</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">52,402<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="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="rh">
<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="re">
<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">52,246<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="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="rh">
<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</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">52,055<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="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="rh">
<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="re">
<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">45,588<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="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="rh">
<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_VesselsInOperationIIMember', window );">Vessels in operation</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">7,362,579<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_GoliathMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GoliathMember</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_MaharajMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MaharajMember</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>
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</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_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_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>
</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_StarAntaresMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarAntaresMember</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>
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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>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StrangeAttractorIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StrangeAttractorIMember</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>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarOmicronMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarOmicronMember</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_StarGammaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarGammaMember</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_StarZetaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarZetaMember</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_StarDeltaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarDeltaMember</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_StarThetaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarThetaMember</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>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEpsilonMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarEpsilonMember</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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</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_StarCosmoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarCosmoMember</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>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKappaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarKappaMember</td>
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<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 border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMicheleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarMicheleMember</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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_VesselsInOperationIIMember</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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R47.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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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826819872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Newbuildings (Table) (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</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_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">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_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">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_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">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_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">July 2017<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 2017<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">January 2017<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">January 2018<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">January 2018<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">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_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">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_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">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_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">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_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">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_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_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>
</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_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_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>
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<td><strong> Name:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R48.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828762608">
<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">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 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_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember', window );">Kymopolia</a></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_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">176,990<span></span>
</td>
<td class="nump">176,990<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">January 30, 2014<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="rh">
<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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<tr class="re">
<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">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_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>
</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="rh">
<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>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">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_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>
</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">2004<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="re">
<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_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="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="rh">
<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">177,643<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">October 18, 2013<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">2004<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_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="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="rh">
<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_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="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="rh">
<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_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="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="rh">
<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_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="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">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_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_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="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">1999<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_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="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">2001<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_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="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="rh">
<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="text">&#160;<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_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="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">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="nump">53,688<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_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">June 11, 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_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<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_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>
</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_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_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_RenascentiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RenascentiaMember</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_MartoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MartoMember</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_StrangeAttractorIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StrangeAttractorIMember</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_SerenityIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_SerenityIMember</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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R49.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825727200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Risk Concentration (Table) (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Voyage revenues</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_ConcentrationRiskLineItems', window );"><strong>Concentration of Risk [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>
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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_ConcentrationRiskPercentage1', window );">Concentration of Risk</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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_ConcentrationRiskByTypeAxis=sblk_Charterer1Member', window );">Charterer A</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_ConcentrationRiskLineItems', window );"><strong>Concentration of Risk [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_ConcentrationRiskPercentage1', window );">Concentration of Risk</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="nump">13.00%<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_ConcentrationRiskByTypeAxis=sblk_Charterer2Member', window );">Charterer B</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_ConcentrationRiskLineItems', window );"><strong>Concentration of Risk [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_ConcentrationRiskPercentage1', window );">Concentration of Risk</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="nump">34.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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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>
<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>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6351-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6404-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<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_ConcentrationRiskPercentage1</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> Data Type:</strong></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>
<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_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember</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>
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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>
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6847111552">
<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="1">3 Months Ended</th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th"><div>Nov. 05, 2014</div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Aug. 19, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Date of Incorporation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 13,  2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 473,917,000<span></span>
</td>
<td class="nump">$ 518,447,000<span></span>
</td>
<td class="nump">$ 127,814,000<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_WriteOffOfDeferredDebtIssuanceCost', window );">Write-off of deferred finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,003,000<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="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_AverageClosingMarketPrice', window );">Average closing market price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11.854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts', window );">Acquisition related costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,364,000<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="re">
<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 | shares</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>
<td class="text">&#160;<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_DailyManagementFee', window );">Daily Management Fee</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">750<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_ShareBasedCompensation', window );">Share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,808,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,684,000<span></span>
</td>
<td class="nump">5,834,000<span></span>
</td>
<td class="nump">1,488,000<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_DebtConversionByUniqueDescriptionAxis=sblk_HeronConvertibleLoanMember', window );">Heron Convertible Loan</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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 );">Convertible loan receivable, outstanding amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,680,000<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>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="nump">0.5<span></span>
</td>
<td class="text">&#160;<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_FinancingReceivableWriteOffs', window );">Write off, Loan receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,680,000<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesAndLoansReceivableNetNoncurrent', window );">Convertible loan receivable, outstanding amount net of write-offs</a></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>
<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_VesselsInOperationsMember', window );">Vessels in operation</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueAdjustment', window );">Assets fair value adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">79,465,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsUnderConstructionMember', window );">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>
<td class="text">&#160;<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueAdjustment', window );">Assets fair value adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 158,523,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_KamsarmaxVesselsMember', window );">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>
<td class="text">&#160;<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>
</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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">14<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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">82,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82,981<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_VesselYearBuilt', window );">Year Built</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">2006<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_StarGwynethMember', window );">Star Gwyneth</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>
</tr>
<tr class="ro">
<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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82,790<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_VesselYearBuilt', window );">Year Built</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">2006<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_ABYOOprahMember', window );">ABYO Oprah</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>
</tr>
<tr class="ro">
<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>
</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">82,551<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ABYOAudreyMember', window );">ABYO Audrey</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>
</tr>
<tr class="re">
<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>
</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">175,125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_AstakosMember', window );">Astakos</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>
</tr>
<tr class="ro">
<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>
</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="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>
</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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2012<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_SerenityIMember', window );">Serenity I</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>
</tr>
<tr class="ro">
<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>
</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">53,688<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,688<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_DailyManagementFee', window );">Daily Management Fee</a></td>
<td class="nump">$ 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 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2006<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_FiniteLivedIntangibleAssetsByMajorClassAxis=sblk_AboveMarketLeasesIIMember', window );">Above market time charters | Madredeus and Amami</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Above market time charters</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,967,000<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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits', window );">Number of time charters</a></td>
<td class="text">&#160;<span></span>
</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="rh">
<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>
<td class="text">&#160;<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>
</tr>
<tr class="ro">
<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 | shares</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>
<td class="text">&#160;<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_BusinessAcquisitionAxis=sblk_OceanbulkIMember', window );">Oceanbulk | Vessels in operation</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>
</tr>
<tr class="ro">
<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>
</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">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<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>
</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">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>
</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>
<td class="text">&#160;<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>
</tr>
<tr class="re">
<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="nump">25,000,000<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_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels | shares</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>
<td class="text">&#160;<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 );">Value of common shares issued for acquisition of 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>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,080,000<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_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>
<td class="text">&#160;<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>
</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">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="rh">
<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>
<td class="text">&#160;<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>
</tr>
<tr class="re">
<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 | shares</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>
<td class="text">&#160;<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_BusinessCombinationAdjustmentsMember', window );">Business combination adjustments</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,816,000<span></span>
</td>
<td class="nump">$ 1,412,000<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,757,000<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_MajorCustomersAxis=sblk_SignificantCharterersMember', window );">Significant charterers</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNet', window );">Accounts receivable</a></td>
<td class="nump">$ 456,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 456,000<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>
</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_AverageClosingMarketPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 closing market price as determined over a period of time.</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_AverageClosingMarketPrice</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>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>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_FinancingReceivableWriteOffs">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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-downs of financing receivables.</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_FinancingReceivableWriteOffs</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_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_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_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_AccountsReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Article 5<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_AccountsReceivableNet</td>
</tr>
<tr>
<td style="padding-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_AssetsFairValueAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 addition (reduction) to the amount at which an asset could be incurred (settled) in a current transaction 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;">us-gaap_AssetsFairValueAdjustment</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<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_DebtInstrumentConvertibleConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Conversion Rate<br> -URI http://asc.fasb.org/extlink&amp;oid=6509012<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21521-112644<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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_FiniteLivedIntangibleAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsGross</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
</tr>
<tr>
<td style="padding-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_NotesAndLoansReceivableNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_NotesAndLoansReceivableNetNoncurrent</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<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_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_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 operating 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_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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>
</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_WriteOffOfDeferredDebtIssuanceCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_WriteOffOfDeferredDebtIssuanceCost</td>
</tr>
<tr>
<td style="padding-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_DebtConversionByUniqueDescriptionAxis=sblk_HeronConvertibleLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DebtConversionByUniqueDescriptionAxis=sblk_HeronConvertibleLoanMember</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_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_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_ABYOOprahMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ABYOOprahMember</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_ABYOAudreyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ABYOAudreyMember</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_AstakosMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AstakosMember</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>
</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_SerenityIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_SerenityIMember</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>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=sblk_AboveMarketLeasesIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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=sblk_AboveMarketLeasesIIMember</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 border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusAndAmamiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MadredeusAndAmamiMember</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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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</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_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_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>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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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_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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=sblk_BusinessCombinationAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BusinessCombinationAdjustmentsMember</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> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=sblk_SignificantCharterersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MajorCustomersAxis=sblk_SignificantCharterersMember</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> Data Type:</strong></td>
<td>na</td>
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<tr>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R51.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826711744">
<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">8 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Aug. 19, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</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_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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 473,917<span></span>
</td>
<td class="nump">$ 518,447<span></span>
</td>
<td class="nump">$ 127,814<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_ExcelVesselsMember', window );">Excel 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="ro">
<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_VesselsAcquired', window );">Number of 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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">$ 39,475<span></span>
</td>
<td class="nump">$ 248,751<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="nump">25,659,425<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</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_VesselsAcquired', window );">Number of 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>
<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</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_VesselsAcquired', window );">Number of 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>
<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</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_VesselsAcquired', window );">Number of 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>
<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</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_VesselsAcquired', window );">Number of 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>
<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_ExcelVesselBridgeFacilityMember', window );">Excel Vessel Bridge 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>
</tr>
<tr class="re">
<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_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 231,000<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_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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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_ExcelVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ExcelVesselsMember</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_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>
</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_PropertyPlantAndEquipmentByTypeAxis=sblk_PanamaxVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_PanamaxVesselsMember</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_HandymaxVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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>
</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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R52.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828019152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant accounting policies and recent accounting pronouncements (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 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_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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDepreciationMethods', window );">Vessels' depreciation method</a></td>
<td class="text">straight-line basis<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_PropertyPlantAndEquipmentUsefulLife', window );">Vessel's useful life</a></td>
<td class="text">25 years<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_AllowanceForDoubtfulAccountsReceivable', window );">Provision for doubtful receivables</a></td>
<td class="nump">$ 0<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_FleetUtilizationAssumption', window );">Fleet utilization assumption</a></td>
<td class="nump">98.00%<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_InflationAssumption', window );">Inflation assumption</a></td>
<td class="nump">3.00%<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 );">Impairment loss</a></td>
<td class="nump">$ 321,978,000<span></span>
</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_AssetsHeldForSaleLongLivedFairValueDisclosure', window );">Assets held for sale</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">0<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_NumberOfInterestRateDerivativesHeld', window );">Number of interest rate derivatives held by the Company</a></td>
<td class="nump">9<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_ChangeInAccountingEstimateByTypeAxis=us-gaap_SalvageValueMember', window );">Salvage Value</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_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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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 as of January 1, 2015, following management's reassessment of the residual value of the Company's vessels, the Company increased the estimated scrap rate per light weight tonnage 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>
<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 change in this accounting estimate, which pursuant to ASC 250 "Accounting Changes and Error Corrections" was applied prospectively and did not require retrospective application, decreased the depreciation expense and the net loss for the year ended December 31, 2015 by $6,337 or $0.03 loss per basic and diluted share.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsSalvageValuePerLightWeightTon', window );">Vessel salvage value per LWT</a></td>
<td class="nump">$ 300<span></span>
</td>
<td class="nump">$ 200<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_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome', window );">Effect of change in acounting estimate, decrease of charge to net income / (loss)</a></td>
<td class="nump">$ 6,337,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl 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 | $ / shares</a></td>
<td class="nump">$ 0.03<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_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Designated as cash flow hedges</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_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>
<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_NumberOfInterestRateDerivativesHeld', window );">Number of interest rate derivatives held by the Company</a></td>
<td class="nump">4<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_FleetUtilizationAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fleet utilization rate assumption used in the impairment test of long lived assets.</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_FleetUtilizationAssumption</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_InflationAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assumption for the average rate of inflation.</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_InflationAssumption</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_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>
</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>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
</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_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>
<td style="white-space:nowrap;">sblk_VesselsSalvageValuePerLightWeightTon</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_AllowanceForDoubtfulAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_AllowanceForDoubtfulAccountsReceivable</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_AssetsHeldForSaleLongLivedFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assets classified as 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<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_AssetsHeldForSaleLongLivedFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-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_ChangeInAccountingEstimateDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=51655806&amp;loc=d3e777-108305<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22595-107794<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_ChangeInAccountingEstimateDescription</td>
</tr>
<tr>
<td style="padding-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_ChangeInAccountingEstimateFinancialEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22595-107794<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=51655806&amp;loc=d3e777-108305<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_ChangeInAccountingEstimateFinancialEffect</td>
</tr>
<tr>
<td style="padding-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_ChangeInAccountingEstimateLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_ChangeInAccountingEstimateLineItems</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5580258-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579245-113959<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</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_PropertyPlantAndEquipmentDepreciationMethods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 methodology for computing depreciation for classes of depreciable 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<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_PropertyPlantAndEquipmentDepreciationMethods</td>
</tr>
<tr>
<td style="padding-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_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer 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;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_ChangeInAccountingEstimateByTypeAxis=us-gaap_SalvageValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ChangeInAccountingEstimateByTypeAxis=us-gaap_SalvageValueMember</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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828600624">
<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>Dec. 31, 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">$ 1,209<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">422<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">1,209<span></span>
</td>
<td class="nump">241<span></span>
</td>
</tr>
<tr class="ro">
<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">33<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_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">0<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">8<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">315<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</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>
</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
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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>
<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_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>
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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>
</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>
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<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>
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<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>
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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>
</tr>
<tr>
<td><strong> Period 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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkSellersMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6803287024">
<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>Dec. 31, 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_RelatedPartyTransactionsAbstract', window );"><strong>Transactions with Related Parties [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_NotesPayableRelatedPartiesClassifiedCurrent', window );">Excel Vessel Bridge Facility - current portion</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_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>
</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_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Total Excel Vessel Bridge Facility</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 56,161<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<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>
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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> Balance Type:</strong></td>
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<tr>
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</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period 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 );">- 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 style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<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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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6805722640">
<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>Dec. 31, 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>
</td>
</tr>
<tr class="ro">
<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">$ 127,910<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_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>
</tr>
<tr class="re">
<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">$ 1,318<span></span>
</td>
<td class="nump">$ 1,038<span></span>
</td>
</tr>
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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;">sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract</td>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6848374128">
<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="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<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_ServiceManagementCosts', window );">Consultancy fees</a></td>
<td class="num">$ (629)<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="re">
<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">(1,025)<span></span>
</td>
<td class="nump">$ 0<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_RelatedPartyCosts', window );">Voyage expenses</a></td>
<td class="num">(3,350)<span></span>
</td>
<td class="num">(1,997)<span></span>
</td>
<td class="num">(773)<span></span>
</td>
</tr>
<tr class="re">
<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">(8,436)<span></span>
</td>
<td class="num">(158)<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_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">251<span></span>
</td>
<td class="nump">2,346<span></span>
</td>
<td class="nump">1,598<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_OceanbulkMaritimeMember', window );">Oceanbulk Maritime S.A.</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_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>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_CommisionsOnSaleOfAssets', window );">Commission on sale of vessel</a></td>
<td class="nump">0<span></span>
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<td class="nump">0<span></span>
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<td class="num">(90)<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_ProfessionalAndContractServicesExpense', window );">Management fee expense</a></td>
<td class="nump">0<span></span>
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<td class="num">(158)<span></span>
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<td class="nump">0<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_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">188<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=us-gaap_ExecutiveOfficerMember', window );">Executive directors</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="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>
<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_ServiceManagementCosts', window );">Consultancy fees</a></td>
<td class="num">(633)<span></span>
</td>
<td class="num">(1,516)<span></span>
</td>
<td class="num">(528)<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_NonExecutiveDirectorsMember', window );">Non-executive directors</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="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>
<td class="text">&#160;<span></span>
</td>
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<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">(160)<span></span>
</td>
<td class="num">(191)<span></span>
</td>
<td class="num">(114)<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember', window );">Combine Marine Ltd.</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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<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">(35)<span></span>
</td>
<td class="num">(42)<span></span>
</td>
<td class="num">(41)<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<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_RelatedPartyCosts', window );">Voyage expenses</a></td>
<td class="num">(3,350)<span></span>
</td>
<td class="num">(1,997)<span></span>
</td>
<td class="num">(773)<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>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">(451)<span></span>
</td>
<td class="num">(35)<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_ExcelVesselBridgeFacilityIIIMember', window );">Excel Vessel Bridge Facility</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_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>
<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="num">(1,659)<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_ManagedVesselsOceanBulkShippingMember', window );">Managed Vessels of Oceanbulk Shipping LLC</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_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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">1,390<span></span>
</td>
<td class="nump">823<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<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">$ 62<span></span>
</td>
<td class="nump">$ 242<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_CommisionsOnSaleOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commisions on sale of assets.</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_CommisionsOnSaleOfAssets</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_NonExecutiveDirectorsCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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>
</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_RelatedPartyCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Direct costs arising from transactions with related parties who are not affiliates or joint Ventures. These costs are categorized as cost of goods sold.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_RelatedPartyCosts</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_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=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>
</table>
<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>
</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=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_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>
<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>
</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>
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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_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>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
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<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6839928608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties - Additional Information - Interchart (Details)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 01, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 01, 2014 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th">
<div>Apr. 01, 2014 </div>
<div>$ / shares</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business | shares</a></td>
<td class="nump">54,104,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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_ForeignCurrencyExchangeRateTranslation1', window );">Exchange rate EUR/USD</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">1.09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.34<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_InterchartShippingMember', window );">Interchart Shipping Inc.</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_BusinessAcquisitionDateOfAcquisitionAgreement1', window );">Acquisition 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. 25,  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>
</tr>
<tr class="re">
<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="nump">33.00%<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_PaymentsToAcquireBusinessesGross', window );">Payment to acquire business | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 200<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 | 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="nump">22,598<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_BusinessAcquisitionSharePrice', window );">Fair value per share transferred | $ / 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="nump">$ 14.51<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_RelatedPartyTransactionAxis=sblk_ServicesAgreementMember', window );">Services Agreement | Interchart Shipping Inc.</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ServicesAgreementAnnualLumpFeeRemuneration', window );">Annual lump sum fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 545<span></span>
</td>
<td class="nump">&#8364; 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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDate', window );">Expiration date of agreement</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">Oct.  01,  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>
</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_RelatedPartyTransactionAxis=sblk_NewServicesAgreementMember', window );">New Services Agreement | Interchart Shipping Inc.</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ServicesAgreementMonthlyLumpFeeRemuneration', window );">Monthly lump sum fee | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 275<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_RelatedPartyTransactionDate', window );">Expiration date of agreement</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">Dec. 31,  2016<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_ServicesAgreementAnnualLumpFeeRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Annual lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial 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_ServicesAgreementAnnualLumpFeeRemuneration</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_ServicesAgreementMonthlyLumpFeeRemuneration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payable to Interchart, as part of the Services Agreement for brokering and commercial 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_ServicesAgreementMonthlyLumpFeeRemuneration</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_BusinessAcquisitionDateOfAcquisitionAgreement1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the business acquisition agreement was executed, 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_BusinessAcquisitionDateOfAcquisitionAgreement1</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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_BusinessAcquisitionSharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks paid or offered to be paid in a business combination.</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_BusinessAcquisitionSharePrice</td>
</tr>
<tr>
<td style="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_ForeignCurrencyExchangeRateTranslation1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<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_ForeignCurrencyExchangeRateTranslation1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_PaymentsToAcquireBusinessesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 business during the period. The cash portion only of the acquisition price.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<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_PaymentsToAcquireBusinessesGross</td>
</tr>
<tr>
<td style="padding-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_RelatedPartyTransactionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 maturity or expiration of arrangements with a related party (for example, but not limited to, leasing and debt arrangements between related parties), 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_RelatedPartyTransactionDate</td>
</tr>
<tr>
<td style="padding-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_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_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_RelatedPartyTransactionAxis=sblk_ServicesAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_ServicesAgreementMember</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_RelatedPartyTransactionAxis=sblk_NewServicesAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_NewServicesAgreementMember</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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</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6848605840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties - Additional Information - Management and Directors Fees (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="2">7 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 07, 2011 </div>
<div>shares</div>
</th>
<th class="th">
<div>May. 03, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>May. 31, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 31, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 31, 2014 </div>
<div>EUR (&#8364;) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>shares</div>
</th>
<th class="th"><div>Jul. 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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of nonvested shares granted during the period</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">676,150<span></span>
</td>
<td class="nump">586,009<span></span>
</td>
<td class="nump">279,333<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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>
<td class="nump">449,842<span></span>
</td>
<td class="nump">21,333<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Shares cancelled</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">18,667<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_ServiceManagementCosts', window );">Service management costs | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 629<span></span>
</td>
<td class="text">&#160;<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_ForeignCurrencyExchangeRateTranslation1', window );">Exchange rate EUR/USD</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">1.09<span></span>
</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">1.34<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Consultancy agreements</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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of nonvested shares granted during the period</a></td>
<td class="nump">28,000<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="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_NumberOfInstallments', window );">Number Of Installments</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Consultancy agreements | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">Feb.  07,  2012<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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">9,333<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Consultancy agreements | Second 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">Feb.  07,  2013<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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="nump">9,333<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Consultancy agreements | Third 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">Feb.  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>
</tr>
<tr class="ro">
<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 );">Number of shares vested during the period</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">9,334<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Renewal consultancy agreements</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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of nonvested shares granted during the period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,000<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_NumberOfInstallments', window );">Number Of Installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDate', window );">Expiration date of agreement</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">Jul. 31,  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>
</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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Renewal consultancy agreements | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">May  03,  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>
</tr>
<tr class="re">
<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 );">Number of shares vested during the period</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">9,333<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Renewal consultancy agreements | Second 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">May  03,  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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Shares cancelled</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">9,333<span></span>
</td>
<td class="nump">9,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO | Renewal consultancy agreements | Third 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">May  03,  2016<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Shares cancelled</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">9,334<span></span>
</td>
<td class="nump">9,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember', window );">Former Chief Executive Officer</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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of nonvested shares granted during the period</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="nump">18,667<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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember', window );">Former Chief Executive Officer | Agreement to terminate the consultancy agreement</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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PaymentsForPostemploymentBenefits', window );">Severance payment, 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="nump">$ 891<span></span>
</td>
<td class="nump">&#8364; 664,000<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="re">
<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 );">Stock issued during period, share based compensation</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">168,842<span></span>
</td>
<td class="nump">168,842<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>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payment installments.</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_NumberOfInstallments</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, 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;">sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate</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: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_ForeignCurrencyExchangeRateTranslation1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<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_ForeignCurrencyExchangeRateTranslation1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_PaymentsForPostemploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 outflows for payments of postemployment benefits (such as severance pay and health insurance benefits) recognized during the period. Postemployment benefits are benefits paid to employees after employment but before retirement.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<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_PaymentsForPostemploymentBenefits</td>
</tr>
<tr>
<td style="padding-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_RelatedPartyTransactionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 maturity or expiration of arrangements with a related party (for example, but not limited to, leasing and debt arrangements between related parties), 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_RelatedPartyTransactionDate</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 were forfeited 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
</tr>
<tr>
<td style="padding-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>
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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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
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<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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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember</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 border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=sblk_ConsultancyAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_ConsultancyAgreementsMember</td>
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<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember</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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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember</td>
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<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>
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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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember</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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember</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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember</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 border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=sblk_TerminationAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_TerminationAgreementMember</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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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6850211776">
<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">2 Months Ended</th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>May. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Apr. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Jul. 11, 2014</div></th>
<th class="th">
<div>Jul. 10, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 28, 2015 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Aug. 19, 2014</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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ForeignCurrencyExchangeRateTranslation1', window );">Exchange rate EUR/USD</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="nump">1.09<span></span>
</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">1.34<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 750<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>
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</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="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="nump">$ 17,500<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>
</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_NumberOfDirectors', window );">Number of directors</a></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">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember', window );">Combine Marine Ltd</a></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="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LesseeLeasingArrangementsOperatingLeasesTermOfContract', window );">Leasing agreements, Office space, Term of contract</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">1 year<span></span>
</td>
<td class="text">1 year<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_RentExpensePerMonth', window );">Rent expense per month</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="nump">$ 3,000<span></span>
</td>
<td class="nump">&#8364; 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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember', window );">Oceanbulk Maritime S.A.</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfNewbuildingContracts', window );">Number of newbuilding contracts</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="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VesselAcquisitionCommissionPercentage', window );">Vessel acquisition commission percentage</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="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartiesCommissionsFees', window );">Related Parties Commissions 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="text">&#160;<span></span>
</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">$ 2,077,000<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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForConstructionInProcess', window );">Pre-delivery installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 519,000<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="nump">$ 519,000<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="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_NumberOfInstallments', 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="text">&#160;<span></span>
</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>
</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_DailyManagementFee', window );">Daily fixed management fee</a></td>
<td class="nump">$ 170<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_FlatFeePerVessel', window );">Vessel acquisition commission, Flat fee</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="nump">200,000<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="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_SupervisionCosts', window );">Supervision 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="nump">$ 850,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Issuance of shares, representing the third installment | 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="nump">171,171<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDate', window );">Expiration date of agreement</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">Jul. 11,  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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DailyManagementFee', window );">Daily fixed management fee</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">$ 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDate', window );">Expiration date of agreement</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">Jul. 11,  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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DailyManagementFee', window );">Daily fixed management fee</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">$ 20<span></span>
</td>
<td class="nump">$ 130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDate', window );">Expiration date of agreement</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">Jul.  01,  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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel', window );">Monthly lump sum management fee 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="nump">$ 17,500<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>
</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_dei_LegalEntityAxis=sblk_OaktreeMember', window );">Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_EquityMethodInvestmentOwnershipPercentage', window );">Equity Method Investment Ownership Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CapesizeVesselsMember', window );">Capesize 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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VesselsAcquired', window );">Number of vessels acquired</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="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_PropertyPlantAndEquipmentByTypeAxis=sblk_CapesizeVesselsMember', window );">Capesize vessels | Oceanbulk Maritime S.A.</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfNewbuildingContracts', window );">Number of newbuilding contracts</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="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="rh">
<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_NewcastlemaxVesselsMember', window );">Newcastlemax vessels | Oceanbulk Maritime S.A.</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfNewbuildingContracts', window );">Number of newbuilding contracts</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="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_UltramaxVesselsMember', window );">Ultramax vessels | Oceanbulk Maritime S.A.</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfNewbuildingContracts', window );">Number of newbuilding contracts</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="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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', 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">December 5, 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>
</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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_BenefialOwnershipOf40OrMoreMember', window );">Beneficial Ownership Of 40% Or More | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfDirectors', window );">Number of 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>
<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>
</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_BeneficialOwnershipOf25OrMoreMember', window );">Beneficial Ownership of 25% but less than 40% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfDirectors', window );">Number of 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>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_BeneficialOwnershipOf15OrMoreMember', window );">Beneficial Ownership of 15% but less than 25% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfDirectors', window );">Number of 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>
<td class="text">&#160;<span></span>
</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="rh">
<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_BeneficialOwnershipOf5OrMoreMember', window );">Beneficial Ownership of 5% but less than 15% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfDirectors', window );">Number of 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>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MaximumMember', window );">Maximum | Beneficial Ownership of 25% but less than 40% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MaximumMember', window );">Maximum | Beneficial Ownership of 15% but less than 25% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MaximumMember', window );">Maximum | Beneficial Ownership of 5% but less than 15% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum | Beneficial Ownership Of 40% Or More | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum | Beneficial Ownership of 25% but less than 40% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum | Beneficial Ownership of 15% but less than 25% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum | Beneficial Ownership of 5% but less than 15% | Shareholders Agreement | Oaktree</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityOwnershipPercentage', window );">Voting percentage</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="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<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_FlatFeePerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Flat fee charged per each newbuilding vessel, as commission fee relative to the negotiations with the shipyards on the construction of the Company's contracted 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_FlatFeePerVessel</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_NumberOfDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 directors constituting the Board of Directors.</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_NumberOfDirectors</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>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payment installments.</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_NumberOfInstallments</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_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_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_sblk_RentExpensePerMonth">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 monthly rent.</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_RentExpensePerMonth</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_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_sblk_SupervisionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 supervision costs for newbuilding vessels paid on behalf of a related party.</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_SupervisionCosts</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_VesselAcquisitionCommissionPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission paid to an entity related to negotiations made, with a shipyard, regarding 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_VesselAcquisitionCommissionPercentage</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_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_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<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_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="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_ForeignCurrencyExchangeRateTranslation1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<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_ForeignCurrencyExchangeRateTranslation1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_LesseeLeasingArrangementsOperatingLeasesTermOfContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of the lessee's leasing arrangement, 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>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_LesseeLeasingArrangementsOperatingLeasesTermOfContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_PaymentsForConstructionInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 from construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<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_PaymentsForConstructionInProcess</td>
</tr>
<tr>
<td style="padding-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_RelatedPartyTransactionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 maturity or expiration of arrangements with a related party (for example, but not limited to, leasing and debt arrangements between related parties), 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_RelatedPartyTransactionDate</td>
</tr>
<tr>
<td style="padding-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_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_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</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_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-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_VariableInterestEntityOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=SL6759159-111685<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_VariableInterestEntityOwnershipPercentage</td>
</tr>
<tr>
<td style="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>
</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=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_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_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_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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=sblk_OaktreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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;">dei_LegalEntityAxis=sblk_OaktreeMember</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_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>
</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_NewcastlemaxVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_NewcastlemaxVesselsMember</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_UltramaxVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_UltramaxVesselsMember</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_HeronVesselsIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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>
</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_StatementScenarioAxis=sblk_BenefialOwnershipOf40OrMoreMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BenefialOwnershipOf40OrMoreMember</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_RelatedPartyTransactionAxis=sblk_OaktreeShareholdersAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_OaktreeShareholdersAgreementMember</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_BeneficialOwnerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BeneficialOwnerMember</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_StatementScenarioAxis=sblk_BeneficialOwnershipOf25OrMoreMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BeneficialOwnershipOf25OrMoreMember</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_StatementScenarioAxis=sblk_BeneficialOwnershipOf15OrMoreMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BeneficialOwnershipOf15OrMoreMember</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_StatementScenarioAxis=sblk_BeneficialOwnershipOf5OrMoreMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BeneficialOwnershipOf5OrMoreMember</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_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MaximumMember</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_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MinimumMember</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>73
<FILENAME>R60.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) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6824036512">
<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>Dec. 31, 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">$ 7,438<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">6,809<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">$ 14,247<span></span>
</td>
<td class="nump">$ 14,368<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_BunkerInventoryCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
</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_LubricantsInventoryCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
</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_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>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R61.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) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6852407408">
<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>Dec. 31, 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">$ 1,757,552<span></span>
</td>
<td class="nump">$ 1,441,851<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=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">2,025,688<span></span>
</td>
<td class="nump">1,641,603<span></span>
</td>
</tr>
<tr class="ro">
<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">1,810<span></span>
</td>
<td class="nump">1,683<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">2,027,498<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">$ (269,946)<span></span>
</td>
<td class="num">$ (201,435)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
</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_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
</tr>
<tr>
<td style="padding-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_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
</tr>
<tr>
<td style="padding-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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGrossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_PropertyPlantAndEquipmentGrossAbstract</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> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<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_PropertyPlantAndEquipmentOther</td>
</tr>
<tr>
<td style="padding-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>
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</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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_PropertyPlantAndEquipmentMember</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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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829166720">
<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>Dec. 31, 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_CapitalLeasesFutureMinimumPaymentsDueAbstract', window );"><strong>Years</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">$ 4,490<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">75,030<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_CapitalLeasesFutureMinimumPaymentsDueAbstract', window );"><strong>Years</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_CapitalLeasesFutureMinimumPaymentsDueCurrent', window );">December 31, 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_CapitalLeasesFutureMinimumPaymentsDueInTwoYears', window );">December 31, 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_CapitalLeasesFutureMinimumPaymentsDueInThreeYears', window );">December 31, 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_CapitalLeasesFutureMinimumPaymentsDueInFourYears', window );">December 31, 2019</a></td>
<td class="nump">11,437<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_CapitalLeasesFutureMinimumPaymentsDueInFiveYears', window );">December 31, 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_CapitalLeasesFutureMinimumPaymentsDueThereafter', window );">December, 2021 and thereafter</a></td>
<td class="nump">51,832<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">101,559<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">22,039<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">79,520<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">4,490<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">$ 75,030<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CapitalLeasesFutureMinimumPaymentsDueAbstract</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInFourYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInThreeYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInTwoYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueThereafter</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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>
<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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>
</tr>
<tr>
<td style="padding-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_LongtermDebtTypeAxis=us-gaap_CapitalLeaseObligationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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=us-gaap_CapitalLeaseObligationsMember</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>76
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6962471344">
<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="2">2 Months Ended</th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="2">7 Months Ended</th>
<th class="th" colspan="1">8 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Mar. 13, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Mar. 16, 2016</div></th>
<th class="th">
<div>May. 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 15, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Aug. 07, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 22, 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>Oct. 09, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Dec. 31, 2016</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>
</tr>
<tr class="ro">
<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">$ 473,917<span></span>
</td>
<td class="nump">$ 518,447<span></span>
</td>
<td class="nump">$ 127,814<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="nump">20,585<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">87<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 );">Impairment loss of disposed assets</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">219,400<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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment loss of assets held for use</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">102,578<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 );">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="nump">321,978<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<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_SaleLeasebackTransactionCurrentPeriodGainRecognized', window );">Amortization of deferred gain</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">22<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<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_AdvancePaymentForVesselDisposal', window );">Advances from 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="nump">$ 0<span></span>
</td>
<td class="nump">1,100<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_StarSigmaMember', window );">Star Sigma</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalDate1', window );">Disposal 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. 10,  2013<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_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="num">$ (87)<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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 );">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">December 12, 2013<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="nump">61,462<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_StarFighterMember', window );">Star Fighter</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>
</tr>
<tr class="ro">
<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>
</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 );">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">December 30, 2013<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="nump">61,455<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_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>
</tr>
<tr class="ro">
<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>
</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 );">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">February 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>
</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="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>
</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>
</tr>
<tr class="ro">
<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>
</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 );">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">March 7, 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>
</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="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>
</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>
</tr>
<tr class="ro">
<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>
</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_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="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>
</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_MergerPappasTransaction2Member', window );">Merger and Pappas Transaction</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>
</tr>
<tr class="re">
<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>
</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="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_FairValueOfAssetsAcquired', window );">Fair value of vessels acquired</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">$ 426,000<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="rh">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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 );">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">July 22, 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>
</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="nump">182,496<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="nump">34,625<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_LeviathanMember', window );">Leviathan</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>
</tr>
<tr class="ro">
<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>
</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 );">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">September 19, 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>
</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="nump">182,511<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="nump">34,625<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_ExcelVesselsMember', window );">Excel 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>
</tr>
<tr class="re">
<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>
</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_AggregateConsiderationTransferredForPurchaseVessels', window );">Contracted 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="nump">$ 501,535<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VesselsDelivered', window );">Number of vessels delivered</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">6<span></span>
</td>
<td class="nump">28<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">29,917,312<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,257,887<span></span>
</td>
<td class="nump">25,659,425<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="nump">$ 288,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 39,475<span></span>
</td>
<td class="nump">$ 248,751<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_HeldInEscrowForHeronVesselsMember', window );">Held in escrow for 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</tr>
<tr class="re">
<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="nump">2,115,706<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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 );">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">December 5, 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>
</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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<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">$ 25,000<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="re">
<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 );">Value of common shares issued for acquisition of 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,080<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>
</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalDate1', window );">Disposal 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">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>
</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_VesselsSold', window );">Number of vessels sold</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">1<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_AdvancePaymentForVesselDisposal', window );">Advances from 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="nump">1,100<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>
</tr>
<tr class="ro">
<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>
</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 );">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">January 8, 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="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="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>
</tr>
<tr class="re">
<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="nump">$ 34,942<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>
</tr>
<tr class="re">
<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>
</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 );">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">February 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>
</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="nump">61,320<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">$ 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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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 );">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">February 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>
</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="nump">61,292<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="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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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 );">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">March 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>
</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>
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<td class="nump">63,458<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_RobertaMember', window );">Roberta</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>
</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>
</tr>
<tr class="re">
<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>
<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_DeliveryDateVessel', 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 class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">March 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>
</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="nump">63,426<span></span>
</td>
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</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>
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</td>
<td class="text">&#160;<span></span>
</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>
</tr>
<tr class="re">
<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>
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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>
<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_DeliveryDateVessel', 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>
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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>
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<td class="text">April 7, 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>
</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>
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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="nump">63,399<span></span>
</td>
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</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_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>
<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>
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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>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', 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">June 26, 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>
</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="nump">63,283<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_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>
<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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</tr>
<tr class="re">
<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>
</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 );">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">April 2, 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="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="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>
</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_GoliathMember', window );">Goliath</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>
</tr>
<tr class="re">
<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>
</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 );">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">July 15, 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="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="nump">209,537<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_MaharajMember', window );">Maharaj</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>
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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>
</tr>
<tr class="re">
<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>
</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 );">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">July 15, 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="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="nump">209,472<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_GargantuaAndGoliathAndMaharajMember', window );">Gargantua, Goliath and Maharaj</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">$ 113,046<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</tr>
<tr class="ro">
<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>
</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 );">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">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>
</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="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>
</tr>
<tr class="re">
<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">$ 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>
<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</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>
</tr>
<tr class="re">
<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>
</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 );">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">July 22, 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="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="nump">60,916<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="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>
<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</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>
</tr>
<tr class="ro">
<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>
</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 );">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">August 7, 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="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="nump">60,916<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="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>
<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_StarAntaresMember', window );">Star Antares</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>
</tr>
<tr class="re">
<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>
</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 );">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">October 9, 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="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="nump">61,258<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="nump">$ 19,770<span></span>
</td>
<td class="text">&#160;<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_VesselsSalesAgreementsMember', window );">Vessels sales agreements in 2015 and 2016</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>
</tr>
<tr class="ro">
<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>
</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_VesselsSold', window );">Number of vessels sold</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">16<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_VesselsDelivered', window );">Number of vessels delivered</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">12<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>
</tr>
<tr class="ro">
<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>
</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="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_LesseeLeasingArrangementsOperatingLeasesTermOfContract', window );">Leasing arrangements, Term of time charter contract</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">2 years<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_SaleLeasebackTransactionDate', window );">Sale Leaseback Transaction, 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">September 15, 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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionDeferredGainGross', window );">Sale Leaseback Transaction, Deferred Gain, Gross</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">$ 148<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_SaleLeasebackTransactionDeferredGainNet', window );">Sale Leaseback Transaction, Deferred Gain, 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="nump">126<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_SaleLeasebackTransactionCurrentPeriodGainRecognized', window );">Amortization of deferred gain</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">$ 22<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>
</tr>
<tr class="ro">
<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>
</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="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>
</tr>
<tr class="ro">
<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="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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLongTermCapitalLeaseObligations', window );">Proceeds from Long-term Capital Lease Obligations</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">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>
</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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
</tr>
<tr class="re">
<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 );">Capital leased assets, 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="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>
</tr>
<tr class="ro">
<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="nump">$ 3,088<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 );">Capital leased assets, Net book value</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">120,992<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="nump">3,056<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_DeutscheBankFacilityMember', window );">Deutsche Bank AG $85,000 Facility | Peloreus</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">$ 32,500<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_LineOfCreditFacilityAxis=sblk_DeutscheBankFacilityMember', window );">Deutsche Bank AG $85,000 Facility | Leviathan</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">32,500<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_LineOfCreditFacilityAxis=sblk_FinancingHeronVesselsMember', window );">Heron Vessels 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">25,311<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</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">32,480<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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">$ 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>
</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 | Star Antares</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">$ 16,738<span></span>
</td>
<td class="text">&#160;<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 $227,500 Facility | Gargantua, Goliath and Maharaj</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 93,000<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_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember', window );">DVB $31,000 Deep Blue Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 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>
<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</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="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>
<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</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">$ 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>
<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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event | 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalDate1', window );">Disposal date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mar. 16,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event | Vessels sales agreements in 2015 and 2016</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>
</tr>
<tr class="re">
<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>
</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_VesselsDelivered', window );">Number of vessels delivered</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="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_StatementScenarioAxis=sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember', window );">Possibility of a sale of certain additional operating vessels and 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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_VesselsNet', window );">Vessels' net book value</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">$ 119,591<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_CashAndCashEquivalentsAxis=us-gaap_CashMember', window );">Existing cash | Peloreus</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>
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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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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="nump">2,125<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_CashAndCashEquivalentsAxis=us-gaap_CashMember', window );">Existing cash | Leviathan</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">$ 2,125<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_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_AggregateConsiderationTransferredForPurchaseVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 consideration transferred for the purchase 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_AggregateConsiderationTransferredForPurchaseVessels</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_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_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_sblk_VesselsDelivered">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 delivered.</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_VesselsDelivered</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_VesselsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Vessel cost 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_VesselsNet</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_VesselsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 sold.</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_VesselsSold</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45014-112735<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<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_DisposalDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 entity disposed of a business or a group of assets, 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_DisposalDate1</td>
</tr>
<tr>
<td style="padding-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_FairValueOfAssetsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assets acquired in noncash 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<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_FairValueOfAssetsAcquired</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 use (including those held for disposal by means other than 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<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_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2611-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 35<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6916424&amp;loc=d3e43161-112731<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_LesseeLeasingArrangementsOperatingLeasesTermOfContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of the lessee's leasing arrangement, 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>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_LesseeLeasingArrangementsOperatingLeasesTermOfContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<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_ProceedsFromLongTermCapitalLeaseObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 proceeds received from lessor related to a long-term 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<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_ProceedsFromLongTermCapitalLeaseObligations</td>
</tr>
<tr>
<td style="padding-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_SaleLeasebackTransactionCurrentPeriodGainRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the deferred gain that was recognized in the current 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35688829&amp;loc=d3e50609-112754<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_SaleLeasebackTransactionCurrentPeriodGainRecognized</td>
</tr>
<tr>
<td style="padding-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_SaleLeasebackTransactionDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 transaction involving the sale of the property to another party and the lease of the property back to the seller.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<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_SaleLeasebackTransactionDate</td>
</tr>
<tr>
<td style="padding-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_SaleLeasebackTransactionDeferredGainGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the gain recorded in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller to be recognized in 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6456126&amp;loc=d3e49567-112750<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_SaleLeasebackTransactionDeferredGainGross</td>
</tr>
<tr>
<td style="padding-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_SaleLeasebackTransactionDeferredGainNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the gain that will be recorded as income or a reduction in rent expense in future periods less amounts recognized in the current 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35688829&amp;loc=d3e50609-112754<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_SaleLeasebackTransactionDeferredGainNet</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSigmaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarSigmaMember</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>
</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_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>
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</tr>
<tr>
<td><strong> Period Type:</strong></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 );">- 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_MergerPappasTransaction2Member</td>
</tr>
<tr>
<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>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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_PropertyPlantAndEquipmentByTypeAxis=sblk_PeloreusMember</td>
</tr>
<tr>
<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>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<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 );">- 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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</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_PropertyPlantAndEquipmentByTypeAxis=sblk_ExcelVesselsMember</td>
</tr>
<tr>
<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>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HeldInEscrowForHeronVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_HeldInEscrowForHeronVesselsMember</td>
</tr>
<tr>
<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>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_PropertyPlantAndEquipmentByTypeAxis=sblk_HeronVesselsIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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>
</tr>
<tr>
<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>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_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>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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_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>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_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>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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>
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</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>
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</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_GoliathMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GoliathMember</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>
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</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_MaharajMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MaharajMember</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>
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</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_GargantuaAndGoliathAndMaharajMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GargantuaAndGoliathAndMaharajMember</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>
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</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>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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>
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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_StarPiscesMember</td>
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<tr>
<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>na</td>
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<tr>
<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>
<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_StarAntaresMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MaidenVoyageIMember</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>
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<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
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<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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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember</td>
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<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerWolverineMember</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>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</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> Data 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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<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember</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> Data Type:</strong></td>
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<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>
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<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember</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>
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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_StatementScenarioAxis=sblk_PossibilityOfSaleOfOperatingVesselsAndNewbuildingsMember">
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<td><strong> Name:</strong></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>
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<tr>
<td><strong> Balance Type:</strong></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><strong> Balance Type:</strong></td>
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<tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R64.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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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6825982784">
<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>Dec. 31, 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">$ 127,910<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 and fair value adjustment (Note 1)</a></td>
<td class="nump">65,009<span></span>
</td>
<td class="nump">408,870<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_AccumulatedUpfrontHireAndHandlingFees', window );">Bareboat capital leases - upfront hire &amp; handling fees</a></td>
<td class="nump">54,428<span></span>
</td>
<td class="nump">31,467<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_AccumulatedCapitalizedInterestAndFinanceCosts', window );">Capitalized interest and finance costs</a></td>
<td class="nump">6,301<span></span>
</td>
<td class="nump">10,654<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_CapitalizedCostsOther', window );">Other capitalized costs (Note 3)</a></td>
<td class="nump">2,172<span></span>
</td>
<td class="nump">3,542<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_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="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">$ 127,910<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_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>
</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_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>
</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_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>
</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_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>
</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>
</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<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_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>
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<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_PropertyPlantAndEquipmentByTypeAxis=sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember</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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<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6830527168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels, Newbuildings (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice', window );">Aggregate reduction of the purchase price of certain of the newbuilding vessels</a></td>
<td class="nump">$ 64,508<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_NewbuildingVesselsMember', window );">Newbuilding Vessels or Lease Agreements</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_DeferredCostsCurrentAndNoncurrent', window );">Capital expenditures deferred</a></td>
<td class="nump">$ 187,695<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">19<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">$ 619,223<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_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary', window );">Newbuildings periodic installments, next twelve months</a></td>
<td class="nump">431,527<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary', window );">Newbuildings periodic installments, 2017</a></td>
<td class="nump">113,366<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary', window );">Newbuildings periodic installments, 2018</a></td>
<td class="nump">$ 74,330<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">11<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_FinancedThroughBareboatCapitalLeaseArrangementsMember', window );">Financed through bareboat capital lease arrangements | Newbuilding Vessels or Lease Agreements</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_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [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_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary', window );">Newbuildings periodic installments, next twelve months</a></td>
<td class="nump">$ 84,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary', window );">Newbuildings periodic installments, 2017</a></td>
<td class="nump">77,100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary', window );">Newbuildings periodic installments, 2018</a></td>
<td class="nump">$ 38,400<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>
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<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>
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<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_DeferredCostsCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 deferred 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-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_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_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25336-109308<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_UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary</td>
</tr>
<tr>
<td style="padding-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_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25336-109308<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_UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary</td>
</tr>
<tr>
<td style="padding-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_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 third fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25336-109308<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_UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary</td>
</tr>
<tr>
<td style="padding-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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_FinancedThroughBareboatCapitalLeaseArrangementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FinancedThroughBareboatCapitalLeaseArrangementsMember</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>79
<FILENAME>R66.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6830149904">
<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="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Feb. 17, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 27, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 31, 2015 </div>
<div>USD ($)</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_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>
</tr>
<tr class="ro">
<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 );">Impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 321,978<span></span>
</td>
<td class="nump">$ 0<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="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>
<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_ProceedsFromCancellationOfVesselsUnderConstruction', window );">Proceeds from cancellation of vessels under construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,800<span></span>
</td>
<td class="nump">$ 0<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_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>
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DescriptionOfLesseeLeasingArrangementsCapitalLeases', window );">Description of Capital leases, Term of contract</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Bareboat charter for ten years<span></span>
</td>
<td class="text">&#160;<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>
<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">$ 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>
<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_NumberOfInstallments', window );">Number of installments</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 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>
<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 );">Capital leased assets, 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>
<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>
<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>
</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">$ 12,960<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<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>
</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">12,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1343Member', window );">Hull 1343 (tbn Star Leo)</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_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>
</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 );">Vessel Capacity</a></td>
<td class="text">&#160;<span></span>
</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>
<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_TypeOfArrangementAxis=sblk_FirstInstallmentMember', window );">First Installment | 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>
<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>
</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">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>
<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_TypeOfArrangementAxis=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>
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount', window );">Unrecorded unconditional, Purchase price obligation</a></td>
<td class="nump">40,000<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_TypeOfArrangementAxis=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>
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount', window );">Unrecorded unconditional, Purchase price obligation</a></td>
<td class="nump">$ 43,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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</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_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>
</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 newbuilding contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<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>
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DescriptionOfLesseeLeasingArrangementsCapitalLeases', window );">Description of Capital leases, Term of contract</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">ten-year bareboat charters<span></span>
</td>
<td class="text">&#160;<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 );">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="text">&#160;<span></span>
</td>
<td class="nump">208,000<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_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="text">&#160;<span></span>
</td>
<td class="nump">$ 1,008<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_CapitalLeasedAssetsNumberOfUnits', window );">Capital leased assets, Number of vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<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>
</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 | Minimum</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_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>
</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="text">&#160;<span></span>
</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">$ 12,000<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 | Maximum</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_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>
</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="nump">12,960<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 | Financed by SWS owner | Five newbuilding vessels | Minimum</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_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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount', window );">Unrecorded unconditional, 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="nump">40,000<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 | Financed by SWS owner | Five newbuilding vessels | Maximum</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_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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount', window );">Unrecorded unconditional, 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="nump">$ 43,200<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_SaleLeasebackTransactionDescriptionAxis=sblk_SaleLeasebackArrangementMember', window );">Sale Leaseback arrangement with CSSC | Hull 1343 (tbn Star Leo)</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_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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionDate', window );">Sale Leaseback Transaction, Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">August 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>
</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 newbuilding contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<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_SaleLeasebackTransactionDescription', window );">Sale Leaseback Transaction, Description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10-year lease back arrangement<span></span>
</td>
<td class="text">&#160;<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_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="nump">$ 40,000<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_HandlingFees', window );">Handling Fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 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>
</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_NumberOfInstallments', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</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>
</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="text">&#160;<span></span>
</td>
<td class="nump">$ 12,060<span></span>
</td>
<td class="text">&#160;<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_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_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_sblk_NumberOfInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payment installments.</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_NumberOfInstallments</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_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_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_ProceedsFromCancellationOfVesselsUnderConstruction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 associated with the reassignment of the leases for newbuilding vessels back to the vessels' owner.</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_ProceedsFromCancellationOfVesselsUnderConstruction</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_DescriptionOfLesseeLeasingArrangementsCapitalLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 general description of the lessee's leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 25<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6394851&amp;loc=SL2265659-115463<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 15<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=51672649&amp;loc=d3e32400-112679<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<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><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>
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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 date of the transaction involving the sale of the property to another party and the lease of the property back to the seller.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<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_SaleLeasebackTransactionDate</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_SaleLeasebackTransactionDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 description of the significant provisions of the transaction involving the sale of property to another party and the lease of the property back to the seller.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<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_SaleLeasebackTransactionDescription</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:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 unrecorded obligation to transfer funds in the future for fixed or minimum amounts or quantities of goods or services at fixed or minimum prices (for example, as in take-or-pay contracts or throughput contracts).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25336-109308<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_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount</td>
</tr>
<tr>
<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>
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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>
<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>
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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>
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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_Hull1343Member</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_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>
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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>
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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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_FiveNewbuildingVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FiveNewbuildingVesselsMember</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>
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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>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
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<td></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionDescriptionAxis=sblk_SaleLeasebackArrangementMember">
<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>
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<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>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths', window );">December 31, 2016</a></td>
<td class="nump">$ 254<span></span>
</td>
<td class="text">&#160;<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_FiniteLivedIntangibleAssetsNet', window );">Total</a></td>
<td class="nump">$ 254<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_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 during the next fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths</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>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_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract</td>
</tr>
<tr>
<td style="padding-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_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829156704">
<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)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2011 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Fair value of above market acquired time charter</a></td>
<td class="nump">$ 254<span></span>
</td>
<td class="nump">$ 11,908<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_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife', window );">Amortization weighted-average remaining period</a></td>
<td class="text">4 months 11 days<span></span>
</td>
<td class="text">&#160;<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_AmortizationOfAboveAndBelowMarketLeases', window );">Amortization</a></td>
<td class="nump">$ 9,540<span></span>
</td>
<td class="nump">6,113<span></span>
</td>
<td class="nump">$ 6,352<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_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Accumulated amortization of above market time charters</a></td>
<td class="nump">30,740<span></span>
</td>
<td class="nump">21,200<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="ro">
<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 );">Gain / (loss) on time charter agreement termination</a></td>
<td class="num">$ (2,114)<span></span>
</td>
<td class="nump">$ 0<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_StarBigAndStarMegaMember', window );">Star Big and Star Mega | Above market time charters</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits', window );">Number of time charters</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<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Above market time charters</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">$ 23,065<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_MadredeusAndAmamiMember', window );">Madredeus and Amami | Above market time charters</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits', window );">Number of time charters</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<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_FiniteLivedIntangibleAssetsGross', window );">Above market time charters</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">$ 1,967<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_ChristineSandraAndLowlandsBeilunMember', window );">Christine, Sandra and Lowlands Beilun | Above market time charters</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits', window );">Number of time charters</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<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_FiniteLivedIntangibleAssetsGross', window );">Above market time charters</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,076<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_us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<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_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_AmortizationOfAboveAndBelowMarketLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 non-cash amortization of intangible asset (liability) for above and below market 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;">us-gaap_AmortizationOfAboveAndBelowMarketLeases</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsGross</td>
</tr>
<tr>
<td style="padding-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_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<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_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_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_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 operating 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_PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits</td>
</tr>
<tr>
<td style="padding-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_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigAndStarMegaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarBigAndStarMegaMember</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_FiniteLivedIntangibleAssetsByMajorClassAxis=sblk_AboveMarketLeasesIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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=sblk_AboveMarketLeasesIIMember</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_MadredeusAndAmamiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_MadredeusAndAmamiMember</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_ChristineSandraAndLowlandsBeilunMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ChristineSandraAndLowlandsBeilunMember</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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<SEQUENCE>82
<FILENAME>R69.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6830488512">
<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>Dec. 31, 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">$ 911,738<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">51,028<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">22,047<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">30,771<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">33,540<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">55,158<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">77,042<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">77,270<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">17,900<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">29,966<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">30,331<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">21,150<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">52,165<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">80,554<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">98,051<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 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">27,727<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 $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">91,032<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember', window );">8.00% 2019 Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumtermNotesNoncurrent', window );">Loan amount</a></td>
<td class="nump">$ 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<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>
<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_CitiFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CitiFacilityMember</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_FinancingHeronVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FinancingHeronVesselsMember</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_DNBFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DNBFacilityMember</td>
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<tr>
<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_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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</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_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember</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> Data Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6814083088">
<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>Dec. 31, 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_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">December 31, 2016</a></td>
<td class="nump">$ 112,873<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">December 31, 2017</a></td>
<td class="nump">87,826<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">December 31, 2018</a></td>
<td class="nump">184,886<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">December 31, 2019</a></td>
<td class="nump">326,573<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">December 31, 2020</a></td>
<td class="nump">53,620<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_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">December 31, 2021 and thereafter</a></td>
<td class="nump">145,960<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">911,738<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="ro">
<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">$ 861,738<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<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>
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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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<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_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive</td>
</tr>
<tr>
<td style="padding-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>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-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>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
</tr>
<tr>
<td style="padding-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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
</tr>
<tr>
<td style="padding-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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</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 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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</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 );">- 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>
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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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6774976688">
<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="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<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_InterestExpenseLongTermDebt', window );">Interest on long term debt</a></td>
<td class="nump">$ 35,969<span></span>
</td>
<td class="nump">$ 15,362<span></span>
</td>
<td class="nump">$ 6,786<span></span>
</td>
</tr>
<tr class="re">
<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">(12,079)<span></span>
</td>
<td class="num">(7,838)<span></span>
</td>
<td class="num">(633)<span></span>
</td>
</tr>
<tr class="ro">
<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">2,416<span></span>
</td>
<td class="nump">1,055<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 deferred finance charges</a></td>
<td class="nump">2,732<span></span>
</td>
<td class="nump">681<span></span>
</td>
<td class="nump">522<span></span>
</td>
</tr>
<tr class="ro">
<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">623<span></span>
</td>
<td class="nump">315<span></span>
</td>
<td class="nump">139<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">$ 29,661<span></span>
</td>
<td class="nump">$ 9,575<span></span>
</td>
<td class="nump">$ 6,814<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 8<br> -Article 9<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>
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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>
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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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<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>
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<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 );">- 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Allowance for Funds Used during Construction<br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<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>
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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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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>
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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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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<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>
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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>
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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>
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</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6851720656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Information Per Loan 1 (Details)<br></strong></div></th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1">24 Months Ended</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. 30, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 01, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 17, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 208,056,000<span></span>
</td>
<td class="nump">$ 86,000,000<span></span>
</td>
<td class="nump">$ 53,548,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 86,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,700,000<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="nump">$ 3,769,000<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>
<td class="nump">3,352,000<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_CommerzbankAg120000FacilitiyMember', window );">Commerzbank $120,000 Facilitiy</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Dec. 27,  2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 120,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Commerzbank $120,000 Facility is secured by a first priority mortgage over the Star Gamma, Star Delta, Star Epsilon, Star Zeta and Star Theta vessels<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfLoanTranches', window );">Number of loan tranches</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommerzbankAg26000FacilityMember', window );">Commerzbank $26000 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Sep.  03,  2010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 26,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Commerzbank $26,000 Facility is secured by a first priority mortgage over the Star Aurora vessel<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Commerzbank $120,000 and $26,000 facilities - Supplemental Agreement</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>
</tr>
<tr class="ro">
<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>
<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_DebtInstrumentWaiverFeePercentage', window );">Waiver fee percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentPrepaymentAmount', window );">Prepayment amount</a></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>
<td class="text">&#160;<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_DebtInstrumentCovenantAmountOfEquityToBeRaised', window );">Amount of equity to be raised under debt instrument covenants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000,000<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>
<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_PercentOfQuarterlyInstallmentsDeferred', window );">Percent of quarterly installments deferred</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">50.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommerzbankAgAggregateFacilitySecondSupplementalMember', window );">Commerzbank $120,000 and $26,000 facilities - Second Supplemental Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DebtInstrumentPrepaymentAmount', window );">Prepayment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Jan. 20,  2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 67,275,000<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="ro">
<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">$ 70,000,000<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>
<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_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">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Credit Agricole $70,000 Facility is secured by a first priority mortgage over the Star Borealis and Star Polaris vessels<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Jul. 21,  2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The ABN AMRO $31,000 Facility is secured by a first priority mortgage over the Star Big and Star Mega vessels<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised', window );">Amount of equity to be raised under debt instrument covenants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000,000<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>
<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_DebtInstrumentInterestRateIncreaseDecrease', window );">Interest rate, Margin increase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_HshNordbankAg3Member', window );">HSH Nordbank AG $64,500 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>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Oct.  03,  2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 64,500,000<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>
</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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<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_HshNordbankAg3SupplementalAgreementMember', window );">HSH Nordbank AG $64,500 facility, Supplemental Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DebtInstrumentPrepaymentAmount', window );">Prepayment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,590,000<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_DebtInstrumentCovenantAmountOfEquityToBeRaised', window );">Amount of equity to be raised under debt instrument covenants</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="nump">$ 20,000,000<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_PeriodicPaymentsDeferredAmount', window );">Periodic payments, amount deferred</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="nump">$ 3,500,000<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_HshNordbankAgMember', window );">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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Initiation 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.  06,  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>
</tr>
<tr class="re">
<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">$ 35,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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. 28,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The HSH Nordbank $35,000 Facility is secured by a first priority mortgage over the Star Challenger and Star Fighter vessels<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeutscheBankMember', window );">Deutsche Bank AG $39,000 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Mar. 14,  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>
</tr>
<tr class="ro">
<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">$ 39,000,000<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>
<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_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Mar. 31,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Deutsche Bank $39,000 Facility is secured by a first priority mortgage over the Star Sirius and Star Vega vessels<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfLoanTranches', window );">Number of loan tranches</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 | Commerzbank $120,000 Facilitiy</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Jan. 31,  2010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<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">$ 13,700,000<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="rh">
<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 | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Aug. 31,  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>
<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_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">$ 485,400<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>
</tr>
<tr class="ro">
<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">19,558,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 | HSH Nordbank AG $64,500 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 48,500,000<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Jan. 31,  2012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Sep. 30,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 1,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 23,500,000<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>
</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 | HSH Nordbank AG $64,500 facility, Supplemental Agreement</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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. 30,  2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">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>
</tr>
<tr class="ro">
<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>
<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_LineOfCreditFacilityPeriodicPayment', window );">Repayment installment</a></td>
<td class="nump">$ 813,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 224,000<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="rh">
<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 | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">May 31,  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>
</tr>
<tr class="re">
<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">$ 312,500<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">8,750,000<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="rh">
<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 | Deutsche Bank AG $39,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,500,000<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Jun. 30,  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>
</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_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">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<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_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">$ 390,000<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="ro">
<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">8,580,000<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="rh">
<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_Tranche2Member', window );">Tranche B | Commerzbank $120,000 Facilitiy</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 70,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Jan. 31,  2010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<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">$ 12,000,000<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>
<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_Tranche2Member', window );">Tranche B | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Nov. 30,  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>
<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_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">$ 499,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">20,134,000<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="rh">
<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_Tranche2Member', window );">Tranche B | HSH Nordbank AG $64,500 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Jan. 31,  2012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Sep. 30,  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>
</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">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 1,333,000<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="rh">
<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_Tranche2Member', window );">Tranche B | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<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_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">May 31,  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>
</tr>
<tr class="ro">
<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">$ 291,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">9,332,400<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>
</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_Tranche2Member', window );">Tranche B | Deutsche Bank AG $39,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,500,000<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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Jun. 30,  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>
</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">28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 390,000<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_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">$ 8,580,000<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="rh">
<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_Tranche1FirstFourInstallmentsMember', window );">Tranche A - First four installments | Commerzbank $120,000 Facilitiy</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>
</tr>
<tr class="re">
<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>
<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">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>
<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_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">$ 2,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_Tranche1InstallmentsFiveToSeventeenMember', window );">Tranche A - 5th Installment to 17th | Commerzbank $120,000 Facilitiy</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>
</tr>
<tr class="re">
<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>
<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">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">$ 1,000,000<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>
<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_Tranche1LastElevenInstallmentsMember', window );">Tranche A - Last eleven installments | Commerzbank $120,000 Facilitiy</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>
</tr>
<tr class="re">
<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>
<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">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">$ 1,300,000<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="rh">
<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_Tranche2FirstFourInstallmentMember', window );">Tranche B - First four installments | Commerzbank $120,000 Facilitiy</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>
</tr>
<tr class="re">
<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>
<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">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>
<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_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">$ 4,000,000<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>
<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_Tranche2LastTwentyFourInstallmentsMember', window );">Tranche B - Last twenty four installments | Commerzbank $120,000 Facilitiy</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>
</tr>
<tr class="re">
<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>
<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>
<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_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">$ 1,750,000<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>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DebtInstrumentCovenantAmountOfEquityToBeRaised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>States the amount of equity that the company is obliged to raise under the debt instrument covenants.</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_DebtInstrumentCovenantAmountOfEquityToBeRaised</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_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>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_DebtInstrumentWaiverFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 expressed as a percentage of the outstanding loan balance.</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_DebtInstrumentWaiverFeePercentage</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_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_sblk_NumberOfVesselFinancedByDebtInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 vessels financed by the debt 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;">sblk_NumberOfVesselFinancedByDebtInstrument</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_PercentOfQuarterlyInstallmentsDeferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percent of quarterly installments deferred.</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_PercentOfQuarterlyInstallmentsDeferred</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_PeriodicPaymentsDeferredAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 periodic payments deferred.</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_PeriodicPaymentsDeferredAmount</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentInterestRateIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Incremental percentage increase (decrease) in the stated rate on a debt 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;">us-gaap_DebtInstrumentInterestRateIncreaseDecrease</td>
</tr>
<tr>
<td style="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>
</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_LineOfCreditFacilityCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discussion of whether the borrowings under the credit facility are secured or unsecured and, if secured, a description of collateral (for example, accounts receivable less than 120 days old, finished goods inventory).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 22<br> -Article 5<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_LineOfCreditFacilityCollateral</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityDateOfFirstRequiredPayment1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 first payment under the line of credit must be paid, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityDateOfFirstRequiredPayment1</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 credit facility terminates, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityExpirationDate1</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityInitiationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 credit facility first became available, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityInitiationDate1</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_CommerzbankAg120000FacilitiyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CommerzbankAg120000FacilitiyMember</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_CommerzbankAg26000FacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CommerzbankAg26000FacilityMember</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_CommerzbankAgAggregateFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CommerzbankAgAggregateFacilityMember</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_CommerzbankAgAggregateFacilitySecondSupplementalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CommerzbankAgAggregateFacilitySecondSupplementalMember</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_HshNordbankAg3SupplementalAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_HshNordbankAg3SupplementalAgreementMember</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_CreditFacilityAxis=sblk_Tranche1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1Member</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_CreditFacilityAxis=sblk_Tranche2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche2Member</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_CreditFacilityAxis=sblk_Tranche1FirstFourInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1FirstFourInstallmentsMember</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_CreditFacilityAxis=sblk_Tranche1InstallmentsFiveToSeventeenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1InstallmentsFiveToSeventeenMember</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_CreditFacilityAxis=sblk_Tranche1LastElevenInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1LastElevenInstallmentsMember</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_CreditFacilityAxis=sblk_Tranche2FirstFourInstallmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche2FirstFourInstallmentMember</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_CreditFacilityAxis=sblk_Tranche2LastTwentyFourInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche2LastTwentyFourInstallmentsMember</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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R73.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829694816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Information Per Loan 2 (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 06, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 20, 2013 </div>
<div>USD ($)</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_LineOfCreditFacilityAxis=sblk_ABNFacilityMember', window );">ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Line of Credit Facility, Initiation Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug.  01,  2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34,458<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">quarterly<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The ABN AMRO $87,458 Facility is secured by a first-priority ship mortgage over the Obelix, Maiden Voyage, Big Bang, Strange Attractor, Big Fish and Pantagruel vessels<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_NumberOfLoanTranches', window );">Number of loan tranches</a></td>
<td class="text">&#160;<span></span>
</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_LineOfCreditFacilityAxis=sblk_DeutscheBankFacilityMember', window );">Deutsche Bank $85,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Line of Credit Facility, Initiation Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May 20,  2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 85,000<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_DebtInstrumentTerm', window );">Repayment period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<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_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19<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_LineOfCreditFacilityFrequencyOfPayments', window );">Frequency of payments</a></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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Deutsche Bank $85,000 Facility is secured by first priority cross-collateralized ship mortgages on the Magnum Opus, Peloreus and Leviathan vessls<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_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms', window );">Frequency of payments and payment terms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Each loan is subject to 19 quarterly amortization payments equal to 1/60th of the loan amount, with the 20th payment equal to the remaining amount outstanding on the loan<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_HSBCFacilityMember', window );">HSBC $86,600 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Line of Credit Facility, Initiation Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 16,  2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="nump">$ 86,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="nump">$ 86,600<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_LineOfCreditFacilityExpirationDate1', window );">Expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May 31,  2019<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_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<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_LineOfCreditFacilityFrequencyOfPayments', window );">Frequency of payments</a></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>
</tr>
<tr class="re">
<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="nump">$ 1,555<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_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 55,500<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The HSBC $86,600 Facility is secured by a first priority mortgage over the  Kymopolia, Mercurial Virgo, Pendulum, Amami and Madredeus vessels<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_DiorigaFacilityMember', window );">HSBC $20,000 Dioriga Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Line of Credit Facility, Initiation Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr. 14,  2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,000<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_LineOfCreditFacilityExpirationDate1', window );">Expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mar. 31,  2019<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_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<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_LineOfCreditFacilityFrequencyOfPayments', window );">Frequency of payments</a></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>
</tr>
<tr class="re">
<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="nump">$ 350<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_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,000<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The HSBC $20,000 Dioriga Facility is secured by a first priority mortgage over the Tsu Ebisu vessel and general and specific assignments.<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_CEXIMFacilityMember', window );">CEXIM $57,360 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Line of Credit Facility, Initiation Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 26,  2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 57,360<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_DebtInstrumentTerm', window );">Repayment period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<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_LineOfCreditFacilityExpirationDate1', window );">Expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 31,  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_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<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">semi-annual<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="nump">$ 1,147<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="nump">$ 5,736<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The CEXIM $57,360 Facility will be secured by first priority cross-collateralized ship mortgages on the Bruno Marks and Jenmark vessels<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_NumberOfLoanTranches', window );">Number of loan tranches</a></td>
<td class="text">&#160;<span></span>
</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="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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</a></td>
<td class="text">&#160;<span></span>
</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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms', window );">Frequency of payments and payment terms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The first installment being due on the first January 21 or July 21 six months after the delivery of each vessel<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 | ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,350<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="nump">$ 20,350<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_LineOfCreditFacilityExpirationDate1', window );">Expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep. 30,  2017<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 | CEXIM $57,360 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,680<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_Tranche2Member', window );">Tranche B | ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,108<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="nump">$ 14,108<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_LineOfCreditFacilityExpirationDate1', window );">Expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 31,  2018<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_Tranche2Member', window );">Tranche B | CEXIM $57,360 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,680<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_Tranche3Member', window );">Tranche C | ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 53,000<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_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 53,000<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_LineOfCreditFacilityExpirationDate1', window );">Expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 31,  2018<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_RangeAxis=us-gaap_MaximumMember', window );">Maximum | ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 550<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_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,813<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum | ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">248<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500<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_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_sblk_NumberOfVesselFinancedByDebtInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 vessels financed by the debt 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;">sblk_NumberOfVesselFinancedByDebtInstrument</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_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_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, 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>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_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_LineOfCreditFacilityCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discussion of whether the borrowings under the credit facility are secured or unsecured and, if secured, a description of collateral (for example, accounts receivable less than 120 days old, finished goods inventory).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 22<br> -Article 5<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_LineOfCreditFacilityCollateral</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 credit facility terminates, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityExpirationDate1</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the required periodic payments of interest, principal, or both, and the amount, if set, or a description of a formula upon which payment is based.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityFrequencyOfPaymentAndPaymentTerms</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityInitiationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 credit facility first became available, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityInitiationDate1</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<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_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_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_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_CreditFacilityAxis=sblk_Tranche1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1Member</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_CreditFacilityAxis=sblk_Tranche2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche2Member</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_CreditFacilityAxis=sblk_Tranche3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche3Member</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_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MaximumMember</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_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MinimumMember</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>87
<FILENAME>R74.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6965684848">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Information Per Loan 3 (Details)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="2">2 Months Ended</th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="2">7 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="1">11 Months Ended</th>
<th class="th" colspan="4">12 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>
</tr>
<tr>
<th class="th">
<div>Jan. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jan. 21, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 29, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Feb. 28, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Apr. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Apr. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May. 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 15, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Jul. 11, 2014</div></th>
<th class="th">
<div>Aug. 07, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 22, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 10, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 23, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Aug. 19, 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_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember', window );">NIBC $32,000 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Nov.  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>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 32,000,000<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>
<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_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Nov. 30,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The NIBC $32,000 Facility is secured by a first priority cross collateralized mortgage over the Star Acquarius and Star Pisces vessels and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfLoanTranches', window );">Number of loan tranches</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="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>
<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="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>
<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</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Dec.  03,  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>
</tr>
<tr class="ro">
<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="nump">$ 32,480,000<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="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 32,500,000<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Dec. 31,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 537,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 21,737,000<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The BNP $32,480 Facility is secured by a first priority mortgage over the Indomitable vessel<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ExcelVesselBridgeFacilityMember', window );">Excel Vessel Bridge 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Aug. 19,  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>
</tr>
<tr class="re">
<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="nump">195,914,000<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 231,000,000<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>
<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_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Jan. 29,  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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">139,753,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,000,000<span></span>
</td>
<td class="nump">$ 6,000,000<span></span>
</td>
<td class="nump">$ 6,000,000<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_DVBFacilityMember', window );">DVB $24,750 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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Oct. 30,  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>
</tr>
<tr class="ro">
<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="nump">$ 24,750,000<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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Oct. 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 12,150,000<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The DVB $24,750 Facility is secured by a first priority pledge of the membership interests of the Christine Shipco LLC and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Dec.  09,  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>
</tr>
<tr class="ro">
<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="nump">$ 30,000,000<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>
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 30,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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. 10,  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 " 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Excel Vessel CiT Facility is secured on a first-priority basis by 11 Excel Vessels, which consist of nine Panamax and two Handymax vessels<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Feb. 11,  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="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 156,453,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Repayment period</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">12 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">48<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Sinosure Facility is secured by first priority cross collateralized mortgage over the Honey Badger (ex-HN NE 164), Wolverine (ex-HN NE 165), Star Antares (ex-HN NE 196), Star Lutas (ex-HN NE 197), HN 1080 (tbn Kennadi), HN 1081 (tbn Mackenzie), HN 1082 (tbn Night Owl), HN 1083 (tbn Early Bird) vessels and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CitiFacilityMember', window );">Citi 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Dec. 22,  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>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 100,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Mar. 30,  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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Dec. 31,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 3,388,000<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 26,349,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The Citi Facility is secured by a first priority mortgage over the Star Pauline (ex-Sandra), Star Despoina (ex-Lowlands Beilun), Star Angie, Star Sophia, Star Georgia, Star Kamila and Star Nina vessels and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Nov. 30,  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>
</tr>
<tr class="re">
<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="nump">$ 25,311,000<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 25,311,000<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_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">Dec. 31,  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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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. 30,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 744,400<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The facility is secured by a first priority mortgage over the Star Gwyneth Star Angelina and Star Aline vessels and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="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>
<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_DNBFacilityMember', window );">DNB $120,000 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Dec. 29,  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>
</tr>
<tr class="re">
<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">$ 9,515,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,507,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,769,000<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>
<td class="nump">$ 88,275,000<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="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 120,000,000<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>
<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_LineOfCreditFacilityDateOfFirstRequiredPayment1', window );">Date of first required payment</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">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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Dec. 31,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 4,374,000<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="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 29,160,000<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The DNB $120,000 Facility is secured by a first priority mortgage over the Star Nasia, Star Monisha, Star Eleonora, Star Danai, Star Renee, Star Markella, Star Laura, Star Moira, Star Jennifer, Star Mariella, Star Helena and Star Maria vessels and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">May 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>
</tr>
<tr class="ro">
<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">$ 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityExpirationDate1', window );">Expiration 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">Mar. 31,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The DVB $31,000 Facility is secured by a first priority mortgage over the Deep Blue (ex-HN 5017) vessel and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 $39,500 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">Mar. 13,  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="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<td class="text">&#160;<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_NumberOfVesselFinancedByDebtInstrument', window );">Number of vessels financed</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="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>
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation 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">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>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 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>
</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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_LineOfCreditFacilityCollateral', window );">Vessels provided as collateral</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">The DNB-SEB-CEXIM $227,500 Facility is secured by a first priority cross-collateralized mortgage over the Gargantua (ex-HN166), Goliath (ex-HN167), Maharaj (ex-HN184), HN1338 (tbn Star Aries), HN1339 (tbn Star Taurus), HN1342 (tbn Star Gemini) and HN198 (tbn Star Poseidon) vessels and general and specific assignments<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">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>
</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 | NIBC $32,000 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 15,237,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 16,000,000<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>
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 255,000<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">9,633,000<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="rh">
<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 | Citi 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="nump">$ 51,477,500<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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_Tranche2Member', window );">Tranche B | NIBC $32,000 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 15,237,000<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>
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 16,000,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 255,000<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="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 9,888,000<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="rh">
<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_Tranche2Member', window );">Tranche B | Citi 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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 42,627,500<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_Tranche2Member', window );">Tranche B | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 30,300,000<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>
<td class="text">&#160;<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_Tranche3Member', window );">Tranche C | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 30,300,000<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>
<td class="text">&#160;<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_FirstFourInstallmentsMember', window );">First four installments | DVB $24,750 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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>
<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 900,000<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="rh">
<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_LastTwentyInstallmentsMember', window );">Last twenty installments | DVB $24,750 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 450,000<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="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">367,000<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">14,587,000<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="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">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>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 20,198,000<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>
</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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event | Tranche D | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 23,400,000<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ChristineShipcoLLCMember', window );">Christine Shipco LLC | DVB $24,750 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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions', window );">Percentage of equity interest acquired</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">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ExcelVesselsMember', window );">Excel 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of vessels acquired</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="nump">34<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<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>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_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_sblk_NumberOfVesselFinancedByDebtInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 vessels financed by the debt 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;">sblk_NumberOfVesselFinancedByDebtInstrument</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_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_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, 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>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_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_LineOfCreditFacilityCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discussion of whether the borrowings under the credit facility are secured or unsecured and, if secured, a description of collateral (for example, accounts receivable less than 120 days old, finished goods inventory).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 22<br> -Article 5<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_LineOfCreditFacilityCollateral</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityDateOfFirstRequiredPayment1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 first payment under the line of credit must be paid, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityDateOfFirstRequiredPayment1</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 credit facility terminates, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityExpirationDate1</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityInitiationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 credit facility first became available, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityInitiationDate1</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<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_SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 subsidiary's or equity method investee's stock owned by parent immediately after all stock transactions.</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_SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions</td>
</tr>
<tr>
<td style="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>
</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>
<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_CitiFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CitiFacilityMember</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_FinancingHeronVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FinancingHeronVesselsMember</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_DNBFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DNBFacilityMember</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_BNPCommittedTermSheetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_BNPCommittedTermSheetMember</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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=sblk_Tranche1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1Member</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>
<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_CreditFacilityAxis=sblk_Tranche2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche2Member</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>na</td>
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<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_CreditFacilityAxis=sblk_Tranche3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche3Member</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>
<td></td>
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</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_CreditFacilityAxis=sblk_FirstFourInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_FirstFourInstallmentsMember</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>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=sblk_LastTwentyInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_LastTwentyInstallmentsMember</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>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MinimumMember</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> 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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MaximumMember</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>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</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> Data 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_CreditFacilityAxis=sblk_TrancheDMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_TrancheDMember</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> 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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ChristineShipcoLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ChristineShipcoLLCMember</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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<td><strong> Balance Type:</strong></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_PropertyPlantAndEquipmentByTypeAxis=sblk_ExcelVesselsMember">
<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_ExcelVesselsMember</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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>R75.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6832293424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Issuance of the 8.00% 2019 Notes (Details) - 8.00% 2019 Notes - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Nov. 06, 2014</div></th>
<th class="th"><div>Dec. 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_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_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from issuance of notes</a></td>
<td class="nump">$ 48,425<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_DebtInstrumentMaturityDate', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov. 30,  2019<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFrequencyOfPeriodicPayment', window );">Frequency of payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly in arrears on each February 15, May 15, August 15 and November 15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentIssuanceDate1', window );">Issuance date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov.  06,  2014<span></span>
</td>
</tr>
<tr class="re">
<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 );">Face amount</a></td>
<td class="text">&#160;<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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodOneMember', window );">Period One, From issuance until November 15, 2016</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_DebtInstrumentRedemptionDescription', window );">Redemption description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Prior to November 15, 2016, the Company may redeem the 2019 Notes, in whole or in part, at a price equal to 100% of their principal amount plus a make-whole premium and accrued and unpaid interest to the date of redemption.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentRedemptionPricePercentage', window );">Redemption price percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodTwoMember', window );">Period Two, On or after November 15, 2016 until maturity</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_DebtInstrumentRedemptionDescription', window );">Redemption description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Company may redeem the 2019 Notes, in whole or in part, at any time on or after November 15, 2016 at a redemption price equal to 100% of the principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentRedemptionPricePercentage', window );">Redemption price percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodThreeMember', window );">At any time, From issuance until maturity</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_DebtInstrumentRedemptionDescription', window );">Redemption description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">In addition, the Company may redeem the 2019 Notes in whole, but not in part, at any time, at a redemption price equal to 100% of their principal amount to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date, if certain events occur involving changes in taxation.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentRedemptionPricePercentage', window );">Redemption price percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<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_CertainChangesOfControlEventsMember', window );">Certain changes of control events</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_DebtInstrumentRedemptionDescription', window );">Redemption description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Upon certain change of control events, the Company is required to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentRedemptionPricePercentage', window );">Redemption price percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">101.00%<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_NetCashProceedsFromCertainAssetSalesMember', window );">Net cash proceeds from certain asset sales</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_DebtInstrumentRedemptionDescription', window );">Redemption description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">If the Company receives net cash proceeds from certain asset sales and does not apply them within a specified deadline, the Company will be required to apply those proceeds to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentRedemptionPricePercentage', window );">Redemption price percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">101.00%<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<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>
</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_DebtInstrumentFrequencyOfPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 (monthly, quarterly, annual).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentFrequencyOfPeriodicPayment</td>
</tr>
<tr>
<td style="padding-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_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="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_DebtInstrumentIssuanceDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 debt instrument was issued, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentIssuanceDate1</td>
</tr>
<tr>
<td style="padding-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_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_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-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_DebtInstrumentRedemptionDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 debt redemption features under terms of the debt agreement.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph e<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<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_DebtInstrumentRedemptionDescription</td>
</tr>
<tr>
<td style="padding-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_DebtInstrumentRedemptionPricePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 price of original principal amount of debt at which debt can be redeemed by 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph e<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<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_DebtInstrumentRedemptionPricePercentage</td>
</tr>
<tr>
<td style="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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 a debt initially having maturity due after one year or beyond 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<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_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-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_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_Issuance50MillionNotesMember</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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodOneMember</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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodTwoMember</td>
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<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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodThreeMember</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_StatementScenarioAxis=sblk_CertainChangesOfControlEventsMember">
<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_StatementScenarioAxis=sblk_CertainChangesOfControlEventsMember</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_StatementScenarioAxis=sblk_NetCashProceedsFromCertainAssetSalesMember">
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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>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=sblk_NetCashProceedsFromCertainAssetSalesMember</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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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R76.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828852528">
<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="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>USD ($)</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>
</tr>
<tr class="ro">
<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">$ 208,056<span></span>
</td>
<td class="nump">$ 86,000<span></span>
</td>
<td class="nump">$ 53,548<span></span>
</td>
<td class="nump">$ 21,700<span></span>
</td>
</tr>
<tr class="re">
<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="nump">3,769<span></span>
</td>
<td class="nump">3,352<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_LoansPayableToBankCurrent', window );">Long term debt - current portion</a></td>
<td class="nump">$ 127,141<span></span>
</td>
<td class="nump">$ 88,317<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_LongtermDebtWeightedAverageInterestRate', window );">Weighted average interest rate</a></td>
<td class="nump">3.69%<span></span>
</td>
<td class="nump">3.53%<span></span>
</td>
<td class="nump">3.34%<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_DebtInstrumentUnusedBorrowingCapacityFee', window );">Unused credit facilities, commitment fee</a></td>
<td class="nump">$ 3,157<span></span>
</td>
<td class="nump">$ 637<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_NumberOfVessels', window );">Number of vessels</a></td>
<td class="nump">70<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_DebtInstrumentDescriptionOfVariableRateBasis', window );">Loan reference interest rate</a></td>
<td class="text">LIBOR<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_GainsLossesOnExtinguishmentOfDebt', window );">Write off of unamortized deferred financing fees</a></td>
<td class="nump">$ 974<span></span>
</td>
<td class="nump">652<span></span>
</td>
<td class="nump">$ 0<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>
</tr>
<tr class="re">
<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>
</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 to be allowed to pay dividends</a></td>
<td class="nump">200,000<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_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>
</tr>
<tr class="ro">
<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>
</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 to be allowed to pay dividends</a></td>
<td class="nump">2,000<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_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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">150,000<span></span>
</td>
<td class="nump">35,400<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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="nump">13,997<span></span>
</td>
<td class="nump">13,972<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_ReclassificationAdjustmentDueToSCRShortfallMember', window );">Reclassification adjustment due to SCR shortfall</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_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>
</tr>
<tr class="ro">
<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">$ 14,268<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_CollateralAxis=sblk_FirstPriorityMortgageMember', window );">First-priority mortgage</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_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>
</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_NumberOfVessels', window );">Number of vessels</a></td>
<td class="nump">61<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_DebtInstrumentCollateralAmount', window );">Amount of vessels pledged as collateral</a></td>
<td class="nump">$ 1,559,339<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_CollateralAxis=sblk_CrossCollateralBareboatVesselsMember', window );">Cross collateral, Bareboat 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="ro">
<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>
</tr>
<tr class="re">
<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 );">Capital leased assets, Number of vessels</a></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>
</tr>
<tr class="ro">
<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 );">Capital leased assets, Net book value</a></td>
<td class="nump">$ 121,010<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_ExcelVesselBridgeFacilityMember', window );">Excel Vessel Bridge 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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="nump">$ 652<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_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember', window );">Excel Vessel Bridge Facility, Excel Vessel CiT Facility, ABN AMRO $31,000 Facility and Commerzbank 26,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Write off of unamortized deferred financing fees</a></td>
<td class="nump">$ 974<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<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_NumberOfVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 assets pledged to secure a debt instrument.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<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_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-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_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_DebtInstrumentUnusedBorrowingCapacityFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 commitment fees for the unused borrowing capacity under the long-term financing arrangement that is available 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_DebtInstrumentUnusedBorrowingCapacityFee</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20<br> -Article 5<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_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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6782027040">
<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">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 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_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_DebtInstrumentRestrictiveCovenants', window );">Debt Instrument, Restrictive Covenants</a></td>
<td class="text">The Company's outstanding credit facilities generally contain customary affirmative and negative covenants, on a subsidiary level, including limitations to:
- incur additional indebtedness, including the issuance of guarantees;
- create liens on its assets;
- change the flag, class or management of its vessels or terminate or materially amend the management agreement relating to each vessel;
- sell its vessels;
- merge or consolidate with, or transfer all or substantially all its assets to, another person; or
- enter into a new line of business.<span></span>
</td>
</tr>
<tr class="re">
<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">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 (security cover ratio or "SCR");
- 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 2015, the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $150,000, respectively, which is included within "Cash and cash equivalents" in the accompanying balance sheets. In addition, as of December 31, 2014 and 2015, the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,997, respectively, which is included within "Restricted cash" current and non-current , in the accompanying balance sheets. <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_LineOfCreditFacilityDividendRestrictions', window );">Line of Credit Facility, Dividend Restrictions</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 occurred and is continuing or would result from such dividend or distribution.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCovenantCompliance', window );">Debt Instrument, Covenant Compliance</a></td>
<td class="text">As of December 31, 2015, as a result of market conditions, the market value of certain of the Company's vessels was below the minimum SCR required under certain loan agreements. A SCR shortfall does not automatically trigger the acceleration of the corresponding loans or constitute a default under the relevant loan agreements. Under these loan agreements, the Company may remedy an SCR shortfall within a period of [10 to 30] days after it receives notice from the lenders by providing additional collateral or repaying the amount of the shortfall. The Company has not received any notices from the relevant lenders that would indicate their intention to exercise their rights under the SCR provisions of the relevant loan agreements and cause acceleration of respective outstanding loan amounts. As of December 31, 2015, $[16,682], which was the amount that could be made repayable under the SCR provisions by the lenders, was reclassified as current portion of long term debt within current liabilities. Apart from this, as of December 31, 2014 and 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements, including the 2019 Notes.<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_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember', window );">8.00% 2019 Notes</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<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_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault', window );">Debt Instrument, Debt Default, Description of Violation or Event of Default</a></td>
<td class="text">The indenture governing the 2019 Notes contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the trustee or the holders of not less than 25% in aggregate principal amount of the 2019 Notes then outstanding may declare the entire principal amount of all the 2019 Notes plus accrued interest, if any, to be immediately due and payable.<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_DebtInstrumentRestrictiveCovenants', window );">Debt Instrument, Restrictive Covenants</a></td>
<td class="text">Upon certain change of control events, the Company is required to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption. If the Company receives net cash proceeds from certain asset sales and does not apply them within a specified deadline, the Company will be required to apply those proceeds to offer to repurchase the 2019 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but not including, the date of redemption.<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_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember', window );">DNB-SEB-CEXIM $227,500 Facility</a></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_LineOfCreditFacilityLineItems', window );"><strong>Line of Credit Facility [Line Items]</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_LineOfCreditFacilityDividendRestrictions', window );">Line of Credit Facility, Dividend Restrictions</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 (i) $200,000 or (ii) $2,000 per fleet vessel.<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>States whether the entity was in compliance with the debt covenants throughout the reporting period, and describes facts and circumstances of any compliance failure.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 22<br> -Article 5<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of covenants that limit or prohibit certain actions or activities without the lender's prior consent within a specified period of time or until certain specified targets are achieved for example, reduction of the debt or an increase in net worth to a specified 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br></p></div>
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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>Discussion of the facts and amounts pertaining to each failure to comply with an affirmative or negative covenant of a long-term debt instrument, including violating payment terms or an inability to meet certain minimum financial requirements or achieve or maintain certain financial ratios. The discussion would generally be expected to also include whether or not the failure can and will be overcome and a description of the terms of any waivers, including the amount of the waiver and the period of time covered by the waiver, and if reclassification of long-term debt to current has been made in the current balance sheet.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=SL6230698-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<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_DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityCovenantTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_LineOfCreditFacilityCovenantTerms</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityDividendRestrictions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 restrictions on the entity's ability to pay dividends as required by the terms of the credit 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(e)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<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_LineOfCreditFacilityDividendRestrictions</td>
</tr>
<tr>
<td style="padding-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_LineOfCreditFacilityLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_LineOfCreditFacilityLineItems</td>
</tr>
<tr>
<td style="padding-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_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_Issuance50MillionNotesMember</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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6853883920">
<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">2 Months Ended</th>
<th class="th" colspan="3">3 Months Ended</th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="2">5 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="2">7 Months Ended</th>
<th class="th" colspan="2">8 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</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>Jan. 14, 2015</div></th>
<th class="th"><div>Feb. 20, 2014</div></th>
<th class="th"><div>Mar. 20, 2015</div></th>
<th class="th"><div>Mar. 21, 2014</div></th>
<th class="th"><div>Mar. 21, 2013</div></th>
<th class="th"><div>May. 03, 2013</div></th>
<th class="th"><div>May. 18, 2015</div></th>
<th class="th"><div>May. 31, 2014</div></th>
<th class="th"><div>Jul. 11, 2014</div></th>
<th class="th"><div>Jun. 27, 2013</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 25, 2013</div></th>
<th class="th"><div>Aug. 19, 2014</div></th>
<th class="th"><div>Sep. 11, 2013</div></th>
<th class="th"><div>Oct. 07, 2013</div></th>
<th class="th"><div>Oct. 28, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
<th class="th"><div>Nov. 23, 2009</div></th>
<th class="th"><div>Nov. 22, 2009</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested</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">394,167<span></span>
</td>
<td class="nump">449,842<span></span>
</td>
<td class="nump">21,333<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_PaymentsOfStockIssuanceCosts', window );">Offering expenses</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">$ 2,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 974<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 4,883<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_SharesIssuedPricePerShare', window );">Public offering, price per share</a></td>
<td class="nump">$ 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 3.2<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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="text">&#160;<span></span>
</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">$ 175,586<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 77,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 68,124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 418,771<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 150,905<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="text">&#160;<span></span>
</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">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>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,338,861<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,050,000<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_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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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="nump">586,009<span></span>
</td>
<td class="nump">279,333<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_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="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PreferredStockSharesAuthorized', window );">Preferred Stock - Shares Authorized</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">25,000,000<span></span>
</td>
<td class="nump">25,000,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock - Par Value</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">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<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_PreferredStockSharesIssued', window );">Preferred Stock - Shares Issued</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">0<span></span>
</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="rh">
<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=us-gaap_CommonStockMember', window );">Common Stock</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommonStockSharesAuthorized', window );">Common Stock - Shares Authorized</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">300,000,000<span></span>
</td>
<td class="nump">300,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300,000,000<span></span>
</td>
<td class="nump">100,000,000<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_CommonStockParOrStatedValuePerShare', window );">Common Stock - Par Value</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">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Common Stock - Shares Issued</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">219,105,712<span></span>
</td>
<td class="nump">109,426,236<span></span>
</td>
<td class="nump">29,059,671<span></span>
</td>
<td class="nump">5,400,810<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</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="nump">580,342<span></span>
</td>
<td class="nump">270,000<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="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">105,250,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,388,861<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_PlanNameAxis=sblk_EquityIncentivePlan2013Member', window );">Equity Incentive Plan 2013</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested</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">239,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Stock issued during period, share based compensation</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="nump">239,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">239,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
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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>
</tr>
<tr class="re">
<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>
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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>
</tr>
<tr class="ro">
<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 );">Number of shares vested</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">394,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
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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>
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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>
</tr>
<tr class="re">
<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 );">Stock issued during period, share based compensation</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="nump">394,167<span></span>
</td>
<td class="text">&#160;<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>
<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="nump">394,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember', window );">Former Chief Executive Officer</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>
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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>
</td>
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">18,667<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_TitleOfIndividualAxis=sblk_FormerDirectorMember', window );">Company's former director</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</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="nump">12,000<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>
<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="nump">12,000<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=sblk_DirectorsMember', window );">Directors</a></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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested</a></td>
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<td class="nump">8,000<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</a></td>
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<td class="nump">8,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
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<td class="nump">8,000<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_BusinessAcquisitionAxis=sblk_OceanbulkIMember', window );">Oceanbulk</a></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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></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_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
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<td class="nump">48,395,766<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_BusinessAcquisitionAxis=sblk_PappasCompaniesMember', window );">Pappas Companies</a></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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></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_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
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</td>
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<td class="nump">3,592,728<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_BusinessAcquisitionAxis=sblk_HeronVenturesLtdMember', window );">Heron Ventures Ltd</a></td>
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</td>
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</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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</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_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels</a></td>
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</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_InterchartShippingMember', window );">Interchart Shipping Inc.</a></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_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>
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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>
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</td>
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</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_BusinessAcquisitionPercentageOfVotingInterestsAcquired', window );">Percentage of total outstanding common shares</a></td>
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<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.00%<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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<tr class="re">
<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>
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<td class="nump">22,598<span></span>
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</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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember', window );">Oceanbulk Maritime S.A.</a></td>
<td class="text">&#160;<span></span>
</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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
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</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_StockIssuedDuringPeriodSharesIssuedForServices', window );">Issuance of shares, representing the third installment</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">171,171<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_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember', window );">Renewal consultancy agreements | CEO</a></td>
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</td>
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</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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></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>
<td class="nump">28,000<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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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember', window );">Renewal consultancy agreements | First installment | CEO</a></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>
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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_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>
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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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</td>
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</td>
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</td>
</tr>
<tr class="ro">
<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 );">Number of shares vested</a></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="nump">9,333<span></span>
</td>
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</td>
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</td>
</tr>
<tr class="re">
<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 );">Stock issued during period, share based compensation</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>
<td class="nump">9,333<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>
</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_RelatedPartyTransactionAxis=sblk_TerminationAgreementMember', window );">Agreement to terminate the consultancy agreement | Former Chief Executive Officer</a></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>
</tr>
<tr class="re">
<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>
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</td>
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</tr>
<tr class="ro">
<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 );">Stock issued during period, share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="nump">168,842<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_PropertyPlantAndEquipmentByTypeAxis=sblk_ExcelVesselsMember', window );">Excel Vessels</a></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_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
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</tr>
<tr class="re">
<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>
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</td>
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</td>
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<td class="nump">29,917,312<span></span>
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<td class="nump">4,257,887<span></span>
</td>
<td class="nump">25,659,425<span></span>
</td>
<td class="text">&#160;<span></span>
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</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<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_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="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_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 number of common shares 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<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_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="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_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-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_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<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_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_SharesIssuedPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per share or per unit amount of equity securities issued.</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_SharesIssuedPricePerShare</td>
</tr>
<tr>
<td style="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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</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_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_PreferredStockMember</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_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_PlanNameAxis=sblk_EquityIncentivePlan2013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_EquityIncentivePlan2013Member</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_PlanNameAxis=sblk_EquityIncentivePlan2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_EquityIncentivePlan2014Member</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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember</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_TitleOfIndividualAxis=sblk_FormerDirectorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_TitleOfIndividualAxis=sblk_FormerDirectorMember</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_TitleOfIndividualAxis=sblk_DirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_TitleOfIndividualAxis=sblk_DirectorsMember</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_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_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>
</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_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>
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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_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>
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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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember</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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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember</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> Data Type:</strong></td>
<td>na</td>
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<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember</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 border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=sblk_TerminationAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RelatedPartyTransactionAxis=sblk_TerminationAgreementMember</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>
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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_PropertyPlantAndEquipmentByTypeAxis=sblk_ExcelVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ExcelVesselsMember</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>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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</div>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R79.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6848513504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operational gain (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">11 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 28, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 03, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 19, 2012 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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_OtherIncome', window );">Other operational gain</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">$ 592,000<span></span>
</td>
<td class="nump">$ 10,003,000<span></span>
</td>
<td class="nump">$ 3,787,000<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_GainFromInsuranceClaim', window );">Gain from insurance claim</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">0<span></span>
</td>
<td class="nump">237,000<span></span>
</td>
<td class="nump">$ 1,030,000<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_LossContingencyClaimsSettledNumber', window );">Number of claims settled</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">2<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_GainFromWriteOffLiability', window );">Exinguishment of liability related to amount of fuel and lubricants remaining on board</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">0<span></span>
</td>
<td class="nump">1,361,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember', window );">Star Borealis</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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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_ProceedsFromSaleOfOtherReceivables', window );">Proceeds from sale of settled claim</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,016,000<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="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_GainLossOnSaleOfClaim', window );">Gain on sale of claim</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">9,377,000<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_GrossDailyCharterRate', window );">Gross daily charter rate</a></td>
<td class="nump">$ 24,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_GainFromWriteOffLiability', window );">Exinguishment of liability related to amount of fuel and lubricants remaining on board</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">1,361,000<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_GainContingenciesByNatureAxis=sblk_HullAndMachineryClaimMember', window );">Hull and Machinery Insurance Claim and Protection and Indemnity Claim</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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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_OtherIncome', window );">Other operational gain</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">456,000<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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember', window );">Settlement agreement with Ishhar</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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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_OtherIncome', window );">Other operational gain</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">2,500,000<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_GainContingenciesByNatureAxis=sblk_RehabilitationPlanMember', window );">Korea Line Corporation, Rehabilitation plan</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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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_OtherIncome', window );">Other operational gain</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">$ 177,000<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_ProceedsFromPaymentsForTradingSecurities', window );">Proceeds from sale of trading securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 144,000<span></span>
</td>
<td class="nump">$ 550,000<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_GainContingenciesByNatureAxis=sblk_RebateFromPreviousManningAgentMember', window );">Rebate from Company's previous manning agent</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_GainContingenciesLineItems', window );"><strong>Gain Contingencies [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 custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_RebateAmount', window );">Rebate from previous manning agent</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">$ 170,000<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_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_sblk_GainFromWriteOffLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 non-cash gain from the write-off of a liability, relevant to operating 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;">sblk_GainFromWriteOffLiability</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_GainLossOnSaleOfClaim">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amount of gain / (loss) on sale of claim.</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_GainLossOnSaleOfClaim</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_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_RebateAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 rebate.</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_RebateAmount</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_GainContingenciesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_GainContingenciesLineItems</td>
</tr>
<tr>
<td style="padding-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_LossContingencyClaimsSettledNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 claims settled.</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_LossContingencyClaimsSettledNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<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_ProceedsFromPaymentsForTradingSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 sales and purchases of trading securities.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26853-111562<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_ProceedsFromPaymentsForTradingSecurities</td>
</tr>
<tr>
<td style="padding-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_ProceedsFromSaleOfOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 associated with the sale of other receivables 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<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_ProceedsFromSaleOfOtherReceivables</td>
</tr>
<tr>
<td style="padding-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_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_GainContingenciesByNatureAxis=sblk_HullAndMachineryClaimMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GainContingenciesByNatureAxis=sblk_HullAndMachineryClaimMember</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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember</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_GainContingenciesByNatureAxis=sblk_RehabilitationPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GainContingenciesByNatureAxis=sblk_RehabilitationPlanMember</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_GainContingenciesByNatureAxis=sblk_RebateFromPreviousManningAgentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GainContingenciesByNatureAxis=sblk_RebateFromPreviousManningAgentMember</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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</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R80.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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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6813878832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operational loss (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 29, 2010</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_OperatingIncomeLossAbstract', window );"><strong>Other Operational Loss [Abstract]</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_PercentageOfFutureProceedsSold', window );">Percentage of future proceeds sold</a></td>
<td class="nump">45.00%<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_SaleOfFutureClaimsProceeds', window );">Sale of future claims proceeds</a></td>
<td class="nump">$ 5,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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_OtherExpenses', window );">Other operational loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 94<span></span>
</td>
<td class="nump">$ 1,125<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_LitigationStatusAxis=sblk_CommercialClaimMember', window );">Commercial claim</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_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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_OtherExpenses', window );">Other operational 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="nump">$ 1,125<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_PercentageOfFutureProceedsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 percentage of future proceeds sold to a third party related to the settlement of certain of the commercial 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_PercentageOfFutureProceedsSold</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_SaleOfFutureClaimsProceeds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 received from selling a percentage of interest in future proceeds, related to recovery of commercial 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_SaleOfFutureClaimsProceeds</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_LossContingenciesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_LossContingenciesLineItems</td>
</tr>
<tr>
<td style="padding-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_OperatingIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_OperatingIncomeLossAbstract</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4,6)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_LitigationStatusAxis=sblk_CommercialClaimMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_LitigationStatusAxis=sblk_CommercialClaimMember</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>94
<FILENAME>R81.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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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6631024112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">$ 8,436,000<span></span>
</td>
<td class="nump">$ 158,000<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<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">7,985,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl 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>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<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">$ 451,000<span></span>
</td>
<td class="nump">$ 35,000<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>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</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></div>
</div></td></tr>
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<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_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>
</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>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R82.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826401088">
<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="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<td class="nump">18,667<span></span>
</td>
</tr>
<tr class="re">
<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">586,009<span></span>
</td>
<td class="nump">279,333<span></span>
</td>
</tr>
<tr class="ro">
<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">(449,842)<span></span>
</td>
<td class="num">(21,333)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Cancellation of shares due to termination agreement with former CEO</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18,667)<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 end of period</a></td>
<td class="nump">676,150<span></span>
</td>
<td class="nump">394,167<span></span>
</td>
<td class="nump">276,667<span></span>
</td>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<td class="nump">$ 36.75<span></span>
</td>
</tr>
<tr class="re">
<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">10.85<span></span>
</td>
<td class="nump">6.43<span></span>
</td>
</tr>
<tr class="ro">
<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">8.94<span></span>
</td>
<td class="nump">19.71<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Cancellation of shares due to termination agreement with former CEO</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.2<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Unvested at end of period</a></td>
<td class="nump">$ 3.55<span></span>
</td>
<td class="nump">$ 10.86<span></span>
</td>
<td class="nump">$ 7.46<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 were forfeited 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
</tr>
<tr>
<td style="padding-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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
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<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>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6804236656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans - Summary of non-vested stock options and restricted shares (Table) (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2015 </div>
<div>$ / shares </div>
<div>shares</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 | shares</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 | shares</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 December 31, 2015 | shares</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 December 31, 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 December 31, 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R84.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6833223008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans - Company's Equity Incentive Plans (Details)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="4">3 Months Ended</th>
<th class="th" colspan="1">4 Months Ended</th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">7 Months Ended</th>
<th class="th" colspan="1">8 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Feb. 20, 2014 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 13, 2015 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 20, 2015 </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 21, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 21, 2013 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>May. 03, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>May. 31, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 27, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 31, 2014 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 11, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($) </div>
<div>shares</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of shares 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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="nump">586,009<span></span>
</td>
<td class="nump">279,333<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_NumberOfDirectors', window );">Number of 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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">394,167<span></span>
</td>
<td class="nump">449,842<span></span>
</td>
<td class="nump">21,333<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Shares cancelled</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="nump">18,667<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 | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,808<span></span>
</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">$ 2,684<span></span>
</td>
<td class="nump">$ 5,834<span></span>
</td>
<td class="nump">$ 1,488<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue', window );">Total fair value of shares vested during the period | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,301<span></span>
</td>
<td class="nump">$ 5,773<span></span>
</td>
<td class="nump">$ 136<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Number of options 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">521,250<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Total unrecognised compensation cost relating to non-vested share option | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 630<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions', window );">Total unrecognised compensation cost relating to restricted share awards | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 680<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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted average remaining term for non-vested share option awards</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">4 years 4 months 14 days<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Weighted average remaining term for non-vested restricted share awards</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">4 months 11 days<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_PlanNameAxis=sblk_EquityIncentivePlan2013Member', window );">Equity Incentive Plan 2013</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommonStockCapitalSharesReservedForFutureIssuance', window );">Shares reserved for 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="nump">240,000<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="ro">
<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 );">Number of shares 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="nump">239,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue', window );">Grant date fair value | $ / 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="nump">$ 6.46<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</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">239,333<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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">239,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommonStockCapitalSharesReservedForFutureIssuance', window );">Shares reserved for issuance</a></td>
<td class="nump">430,000<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>
<td class="text">&#160;<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 );">Number of shares granted</a></td>
<td class="nump">394,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue', window );">Grant date fair value | $ / shares</a></td>
<td class="nump">$ 10.86<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</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">394,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">394,167<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommonStockCapitalSharesReservedForFutureIssuance', window );">Shares reserved for issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,400,000<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>
<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 );">Number of shares granted</a></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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">Apr. 13,  2016<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue', window );">Grant date fair value | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Number of options granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">521,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice', window );">Option exercise price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Fair value assumptions - Expected term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Fair value assumptions - Expected volatility rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">59.274%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Fair value assumptions - Risk free interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TitleOfIndividualAxis=sblk_FormerChiefExecutiveOfficerMember', window );">Former Chief Executive Officer</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of shares 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">18,667<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_TitleOfIndividualAxis=sblk_FormerDirectorMember', window );">Company's former director</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of shares 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="nump">12,000<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="ro">
<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 );">Stock issued during period, share based compensation</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">12,000<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_TitleOfIndividualAxis=sblk_DirectorsMember', window );">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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of shares granted</a></td>
<td class="nump">8,000<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>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</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">8,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</a></td>
<td class="nump">8,000<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>
<td class="text">&#160;<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_TitleOfIndividualAxis=sblk_TwoDirectorsMember', window );">Two 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of shares 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,000<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="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_NumberOfDirectors', window );">Number of 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>
<td class="text">&#160;<span></span>
</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>
<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue', window );">Grant date fair value | $ / 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="nump">$ 12.03<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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="nump">15,000<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_RelatedPartyTransactionAxis=sblk_RenewalConsultancyAgreementsMember', window );">Renewal consultancy agreements | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Number of shares 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">28,000<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="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=sblk_TerminationAgreementMember', window );">Agreement to terminate the consultancy agreement | Former Chief Executive Officer</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue', window );">Grant date fair value | $ / 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="nump">$ 10.71<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Stock issued during period, share based compensation</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="nump">168,842<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>
</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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember', window );">First installment | Renewal consultancy agreements | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">May  03,  2014<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 );">Stock issued during period, share based compensation</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">9,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Number of shares vested during the period</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="nump">9,333<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember', window );">Second installment | Renewal consultancy agreements | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">May  03,  2015<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Shares cancelled</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="nump">9,333<span></span>
</td>
<td class="text">&#160;<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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember', window );">Third installment | Renewal consultancy agreements | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting 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">May  03,  2016<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Shares cancelled</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="nump">9,334<span></span>
</td>
<td class="text">&#160;<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_NumberOfDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 directors constituting the Board of Directors.</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_NumberOfDirectors</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>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, 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;">sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate</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: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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</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_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>
</tr>
<tr>
<td style="padding-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_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>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 were forfeited 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue</td>
</tr>
<tr>
<td style="padding-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_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>
</tr>
<tr>
<td style="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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
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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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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>
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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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
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<tr>
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<td><strong> Data 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>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>
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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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.D.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section D<br> -Subsection 2<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>
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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>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<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><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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
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<td><strong> Balance Type:</strong></td>
<td>na</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>
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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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<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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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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_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826384336">
<tr>
<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="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_NetIncomeLossAbstract', window );"><strong>Income / (Loss):</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="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">$ (458,177)<span></span>
</td>
<td class="num">$ (11,723)<span></span>
</td>
<td class="nump">$ 1,850<span></span>
</td>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">195,623,363<span></span>
</td>
<td class="nump">58,441,193<span></span>
</td>
<td class="nump">14,051,344<span></span>
</td>
</tr>
<tr class="re">
<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">$ (2.34)<span></span>
</td>
<td class="num">$ (0.2)<span></span>
</td>
<td class="nump">$ 0.13<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_EarningsPerShareDilutedAbstract', window );"><strong>Effect of dilutive securities:</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_WeightedAverageNumberDilutedSharesOutstandingAdjustment', window );">Dilutive effect of non-vested shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">65,045<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_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common shares outstanding, diluted</a></td>
<td class="nump">195,623,363<span></span>
</td>
<td class="nump">58,441,193<span></span>
</td>
<td class="nump">14,116,389<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_EarningsPerShareDiluted', window );">Diluted earnings / (loss) per share</a></td>
<td class="num">$ (2.34)<span></span>
</td>
<td class="num">$ (0.2)<span></span>
</td>
<td class="nump">$ 0.13<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_EarningsPerShareBasicOtherDisclosuresAbstract', window );"><strong>Earnings / (loss) per share</strong></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="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>
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<td class="nump">394,167<span></span>
</td>
<td class="nump">3,404<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="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>
<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_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Number of anti-dilutive shares</a></td>
<td class="nump">521,250<span></span>
</td>
<td class="text">&#160;<span></span>
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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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<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>
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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:sharesItemType</td>
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<td><strong> Balance 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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<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>
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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>num:perShareItemType</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><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>
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<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 );">- 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>
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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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<td><strong> Period 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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<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_NetIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<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>
</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_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<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>
</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_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<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>
</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>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6803587776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accrued liabilities (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 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_AccruedLiabilitiesCurrentAbstract', window );"><strong>Accrued Liabilities (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_AccruedAuditFeesCurrent', window );">Audit fees</a></td>
<td class="nump">$ 386<span></span>
</td>
<td class="nump">$ 432<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_AccruedLegalFeesCurrent', window );">Legal fees</a></td>
<td class="nump">449<span></span>
</td>
<td class="nump">1,149<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_AccruedProfessionalFeesOtherCurrent', window );">Other professional fees</a></td>
<td class="nump">26<span></span>
</td>
<td class="nump">350<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_AccruedOperatingAndVoyageExpensesCurrent', window );">Vessel operating and voyage expenses</a></td>
<td class="nump">9,555<span></span>
</td>
<td class="nump">8,477<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_AccruedLoanInterestAndFinancingFeesCurrent', window );">Loan interest and financing fees</a></td>
<td class="nump">4,357<span></span>
</td>
<td class="nump">3,330<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_AccruedLiabilitiesCurrent', window );">Total Accrued Liabilities</a></td>
<td class="nump">$ 14,773<span></span>
</td>
<td class="nump">$ 13,738<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccruedAuditFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 through that date and payable for accounting services received. 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>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_AccruedAuditFeesCurrent</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>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_sblk_AccruedLegalFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 through that date and payable for legal services received. 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>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_AccruedLegalFeesCurrent</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>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_AccruedLoanInterestAndFinancingFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 through that date and payable for loan interest and financing fees. 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>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_AccruedLoanInterestAndFinancingFeesCurrent</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_AccruedOperatingAndVoyageExpensesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 through that date and payable for operating and voyage expenses. 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>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_AccruedOperatingAndVoyageExpensesCurrent</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_AccruedProfessionalFeesOtherCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 through that date and payable for other professional fees, excluding legal and accounting services received. 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>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_AccruedProfessionalFeesOtherCurrent</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_AccruedLiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AccruedLiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-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>100
<FILENAME>R87.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6824053216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income taxes (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</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_TonnageTax', window );">Tonnage taxes</a></td>
<td class="nump">$ 3,717<span></span>
</td>
<td class="nump">$ 1,360<span></span>
</td>
<td class="nump">$ 797<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_IncomeTaxAuthorityAxis=sblk_GreeceMember', window );">Greece</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_TonnageTax', window );">Tonnage taxes</a></td>
<td class="nump">3,302<span></span>
</td>
<td class="nump">$ 1,260<span></span>
</td>
<td class="nump">$ 668<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_IncomeTaxAuthorityAxis=sblk_CyprusMember', window );">Cyprus</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_TonnageTax', window );">Tonnage taxes</a></td>
<td class="nump">$ 11<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_TonnageTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 tonnage taxes for 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;">sblk_TonnageTax</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_IncomeTaxAuthorityAxis=sblk_GreeceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_IncomeTaxAuthorityAxis=sblk_GreeceMember</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_IncomeTaxAuthorityAxis=sblk_CyprusMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_IncomeTaxAuthorityAxis=sblk_CyprusMember</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>101
<FILENAME>R88.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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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829155408">
<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>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent', window );">2016</a></td>
<td class="nump">$ 16,239<span></span>
</td>
</tr>
<tr class="re">
<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">(19,134)<span></span>
</td>
</tr>
<tr class="ro">
<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">(21,979)<span></span>
</td>
</tr>
<tr class="re">
<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">(21,543)<span></span>
</td>
</tr>
<tr class="ro">
<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">(22,021)<span></span>
</td>
</tr>
<tr class="re">
<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">(194,365)<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">(262,803)<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">33,695<span></span>
</td>
</tr>
<tr class="ro">
<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">1,089<span></span>
</td>
</tr>
<tr class="re">
<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">34,784<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_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember', window );">Future, minimum non cancellable lease payment under vessel operating leases</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_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2016</a></td>
<td class="num">(3,605)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2017</a></td>
<td class="num">(2,344)<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_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', 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_OperatingLeasesFutureMinimumPaymentsDueInFourYears', 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_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', 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_OperatingLeasesFutureMinimumPaymentsDueThereafter', 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_OperatingLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="num">(5,949)<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_OfficeRentMember', window );">Office rent</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_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2016</a></td>
<td class="num">(256)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2017</a></td>
<td class="num">(256)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">2018</a></td>
<td class="num">(255)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">2019</a></td>
<td class="num">(252)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2020</a></td>
<td class="num">(247)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter', window );">2021 and thereafter</a></td>
<td class="num">(421)<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_OperatingLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="num">(1,687)<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 (3)</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_CapitalLeasesFutureMinimumPaymentsDueCurrent', window );">2016</a></td>
<td class="num">(6,469)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears', window );">2017</a></td>
<td class="num">(672)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears', window );">2018</a></td>
<td class="num">(336)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears', 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_CapitalLeasesFutureMinimumPaymentsDueInFiveYears', 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_CapitalLeasesFutureMinimumPaymentsDueThereafter', 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</a></td>
<td class="num">(7,477)<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 (4)</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_CapitalLeasesFutureMinimumPaymentsDueCurrent', window );">2016</a></td>
<td class="num">(7,126)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears', window );">2017</a></td>
<td class="num">(16,951)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears', window );">2018</a></td>
<td class="num">(21,388)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears', window );">2019</a></td>
<td class="num">(21,291)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears', window );">2020</a></td>
<td class="num">(21,774)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter', window );">2021 and thereafter</a></td>
<td class="num">(193,944)<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</a></td>
<td class="num">$ (282,474)<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInFourYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInThreeYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueInTwoYears</td>
</tr>
<tr>
<td style="padding-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_CapitalLeasesFutureMinimumPaymentsDueThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<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_CapitalLeasesFutureMinimumPaymentsDueThereafter</td>
</tr>
<tr>
<td style="padding-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 due after the fifth fiscal year following the latest fiscal year. Excludes 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_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 due in the fifth fiscal year following the latest fiscal year. Excludes 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_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 due in the fourth fiscal year following the latest fiscal year. Excludes 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_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_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 due in the second fiscal year following the latest fiscal year. Excludes 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_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 due in the third fiscal year following the latest fiscal year. Excludes 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_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_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<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_OperatingLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-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_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<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_OperatingLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-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_OperatingLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<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_OperatingLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-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_OperatingLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<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_OperatingLeasesFutureMinimumPaymentsDueInFourYears</td>
</tr>
<tr>
<td style="padding-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_OperatingLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<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_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</td>
</tr>
<tr>
<td style="padding-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_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<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_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</td>
</tr>
<tr>
<td style="padding-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_OperatingLeasesFutureMinimumPaymentsDueThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<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_OperatingLeasesFutureMinimumPaymentsDueThereafter</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<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>
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<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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<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_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FutureMinimumNon-cancellableLeasePaymentUnderVesselOperatingLeasesMember</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_OfficeRentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_OfficeRentMember</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_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;">
<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_BareboatCommitmentsCharterHireMember</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>
</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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6847207792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies 1 (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="1">8 Months Ended</th>
<th class="th" colspan="2">10 Months Ended</th>
<th class="th" colspan="2">11 Months Ended</th>
<th class="th" colspan="5">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Jan. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2012 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 04, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 05, 2012 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 31, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Nov. 30, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Nov. 19, 2012 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2012 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>&#8361; / shares</div>
</th>
<th class="th">
<div>Oct. 14, 2011 </div>
<div>USD ($)</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_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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident', window );">Coverage for pollution</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">$ 1,000,000<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="re">
<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 );">Provision for doubtful receivables</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">0<span></span>
</td>
<td class="nump">$ 215<span></span>
</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="ro">
<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, 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="nump">10,889<span></span>
</td>
<td class="nump">24,765<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="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 592<span></span>
</td>
<td class="nump">$ 10,003<span></span>
</td>
<td class="nump">3,787<span></span>
</td>
<td class="text">&#160;<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_dei_LegalEntityAxis=sblk_KoreaLineCorporationMember', window );">Korea Line Crporation ("KLC")</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteStockSplit', window );">Description of reverse stock split 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">11,502 shares (46,007 shares before split)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember', window );">Settlement agreement with Ishhar</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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 );">Provision for doubtful receivables</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="nump">$ 1,949<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_LossContingencySettlementAgreementDate', window );">Settlement agreement 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">September 5, 2012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LitigationSettlementAmount', window );">Settlement agreement, 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="nump">$ 5,000<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>
<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_ProceedsFromLegalSettlements', window );">Legal proceeds</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">2,500<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>
</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_NumberOfInstallments', 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">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_GainContingencyIncomeStatementCaption', window );">Location in income statement</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">Other operational gain<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OtherIncome', window );">Other operational gain</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">2,500<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>
</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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember', window );">Settlement agreement with Ishhar | 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Legal proceeds</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">$ 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_GainContingenciesByNatureAxis=sblk_RehabilitationPlanMember', window );">Korea Line Corporation, Rehabilitation plan</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>
</tr>
<tr class="ro">
<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>
</tr>
<tr class="re">
<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 );">Provision for doubtful receivables</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="nump">498<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_ProceedsFromLegalSettlements', window );">Legal proceeds</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">177<span></span>
</td>
<td class="text">&#160;<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_AccountsReceivableNetCurrent', window );">Trade accounts receivable, 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="nump">$ 6,839<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_AccountsReceivableCollectionPeriod', window );">Collection period</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">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CommonStockParOrStatedValuePerShare', window );">Common Stock - Par Value | &#8361; / 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="nump">&#8361; 5,000<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_ConversionOfReceivablePercentageOfAmountPaidInCash', window );">Percentage of amount paid in 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">37.00%<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_ConversionOfReceivablePercentageOfAmountConverted', window );">Percentage of amount converted into 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="nump">63.00%<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_GainContingencyIncomeStatementCaption', window );">Location in income statement</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">Other operational gain<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ProceedsFromPaymentsForTradingSecurities', window );">Proceeds from sale of trading securities</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="nump">$ 144<span></span>
</td>
<td class="nump">$ 550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LegalSettlementsSharesAcquired', window );">Number of shares received | 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="nump">11,502<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OtherIncome', window );">Other operational gain</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">$ 177<span></span>
</td>
<td class="text">&#160;<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_StarGammaMember', window );">Star Gamma | Korea Line Corporation, Rehabilitation plan</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Legal proceeds</a></td>
<td class="nump">$ 172<span></span>
</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">$ 167<span></span>
</td>
<td class="nump">$ 172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 12<span></span>
</td>
<td class="nump">$ 86<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_LegalSettlementsSharesAcquired', window );">Number of shares received | 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="nump">24,196<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StarCosmoMember', window );">Star Cosmo | Korea Line Corporation, Rehabilitation plan</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>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Legal proceeds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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<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_LegalSettlementsSharesAcquired', window );">Number of shares received | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">718<span></span>
</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">983<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum | Settlement agreement with Ishhar | Last sixteen 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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_LitigationSettlementPeriodicPayment', window );">Amount per 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">$ 250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfInstallments', 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">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RangeAxis=us-gaap_MaximumMember', window );">Maximum | Settlement agreement with Ishhar | Last sixteen 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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
</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_LitigationSettlementPeriodicPayment', window );">Amount per 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">$ 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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfInstallments', 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">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_AccountsReceivableCollectionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period over which a receivable is collected, 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>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_AccountsReceivableCollectionPeriod</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:durationItemType</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_ConversionOfReceivablePercentageOfAmountConverted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 percentage of receivable amount converted into shares in a part noncash transaction.</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_ConversionOfReceivablePercentageOfAmountConverted</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>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ConversionOfReceivablePercentageOfAmountPaidInCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 percentage of receivable amount paid in cash  in a part noncash transaction.</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_ConversionOfReceivablePercentageOfAmountPaidInCash</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>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_LegalSettlementsSharesAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 shares acquired in a non-cash or part non-cash transaction.</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_LegalSettlementsSharesAcquired</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: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_sblk_LitigationSettlementPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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.</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_LitigationSettlementPeriodicPayment</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_NumberOfInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payment installments.</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_NumberOfInstallments</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<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_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<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_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="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_GainContingencyIncomeStatementCaption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identifies the line item of the income statement that reflects the gain recognized in the period upon resolution of a previously disclosed contingent gain.</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_GainContingencyIncomeStatementCaption</td>
</tr>
<tr>
<td style="padding-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_LitigationSettlementAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 judgment or settlement awarded to (against) the entity in respect of litigation.</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_LitigationSettlementAmount</td>
</tr>
<tr>
<td style="padding-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_LossContingencySettlementAgreementDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 effective date of a duly executed litigation settlement agreement.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<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_LossContingencySettlementAgreementDate</td>
</tr>
<tr>
<td style="padding-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_MalpracticeInsuranceMaximumCoveragePerIncident">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 coverage per malpractice claim provided by the insurance 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 450<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491354&amp;loc=d3e6049-115624<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_MalpracticeInsuranceMaximumCoveragePerIncident</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<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_ProceedsFromLegalSettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 received for the settlement of litigation during the current 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<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_ProceedsFromLegalSettlements</td>
</tr>
<tr>
<td style="padding-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_ProceedsFromPaymentsForTradingSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 sales and purchases of trading securities.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49167202&amp;loc=d3e26853-111562<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_ProceedsFromPaymentsForTradingSecurities</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_StockholdersEquityNoteStockSplit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 stock split arrangement. Also provide the retroactive effect given by a stock split that occurs after the balance date but before the release of financial statements.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB TOPIC 4.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Stock Split<br> -URI http://asc.fasb.org/extlink&amp;oid=6525746<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section C<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_StockholdersEquityNoteStockSplit</td>
</tr>
<tr>
<td style="padding-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_dei_LegalEntityAxis=sblk_KoreaLineCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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;">dei_LegalEntityAxis=sblk_KoreaLineCorporationMember</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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GainContingenciesByNatureAxis=sblk_SettlementAgreementWithIshharOverseasFZEMember</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_LitigationStatusAxis=sblk_FirstInstallmentIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_LitigationStatusAxis=sblk_FirstInstallmentIIMember</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_GainContingenciesByNatureAxis=sblk_RehabilitationPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_GainContingenciesByNatureAxis=sblk_RehabilitationPlanMember</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_StarGammaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarGammaMember</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_StarCosmoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarCosmoMember</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_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MinimumMember</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_LitigationStatusAxis=sblk_LastSixteenInstallmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_LitigationStatusAxis=sblk_LastSixteenInstallmentsMember</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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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MaximumMember</td>
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<tr>
<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> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R90.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6964923984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contigencies 2 (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">10 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th">
<div>Mar. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2012 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Jun. 28, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 03, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Nov. 05, 2014</div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th">
<div>Jul. 31, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2011 </div>
<div>EUR (&#8364;)</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_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyExchangeRateTranslation1', window );">Exchange rate EUR/USD</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">1.09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.09<span></span>
</td>
<td class="nump">1.34<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_DecreaseInRestrictedCash', window );">Decrease in 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="text">&#160;<span></span>
</td>
<td class="nump">$ 4,500,000<span></span>
</td>
<td class="nump">$ 35,000<span></span>
</td>
<td class="nump">$ 7,664,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MalpracticeInsuranceMaximumCoveragePerIncident', window );">Coverage for pollution</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">1,000,000,000<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="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">592,000<span></span>
</td>
<td class="nump">10,003,000<span></span>
</td>
<td class="nump">3,787,000<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="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_GainFromWriteOffLiability', window );">Exinguishment of liability related to amount of fuel and lubricants remaining on board</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">$ 0<span></span>
</td>
<td class="nump">1,361,000<span></span>
</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_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis', window );">Variable portion of payment to SWS owner</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">6-month LIBOR rate of 0.846%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DueToRelatedPartiesCurrent', window );">Due to related parties</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">$ 422,000<span></span>
</td>
<td class="nump">2,166,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember', window );">Star Borealis</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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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>
</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_GrossDailyCharterRate', window );">Gross daily charter rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 24,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ProceedsFromSaleOfOtherReceivables', window );">Proceeds from sale of settled claim</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">$ 8,016,000<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="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_GainLossOnSaleOfClaim', window );">Gain on sale of claim</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">9,377,000<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="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_GainFromWriteOffLiability', window );">Exinguishment of liability related to amount of fuel and lubricants remaining on board</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">1,361,000<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_LitigationStatusAxis=sblk_SpanishPortAuthoritiesFinesMember', window );">Spanish port authorities environmental fines | Star Cosmo</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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EscrowDeposit', window );">Cash collateral to guarantee the payment of fines</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">$ 371,000<span></span>
</td>
<td class="nump">&#8364; 340,000<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_CashCollateralForPollutionRelease', window );">Cash collateral for pollution release | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 340,000<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>
<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_LossContingencyRangeOfPossibleLossMaximum', window );">Fines subject to adjudication</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">283,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 260,000<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyRangeOfPossibleLossMinimum', window );">Irrevocably adjudicated fines</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">$ 65,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 60,000<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_LitigationStatusAxis=sblk_ArbitrationProceedingsMember', window );">Arbitration proceedings | Star Polaris</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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyNameOfDefendant', window );">Name of defendant</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">Hanjin HHIC-Phil Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OffHireDays', window );">Off hire days</a></td>
<td class="nump">142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LossOffHire', window );">Revenue loss due to off hire</a></td>
<td class="nump">$ 2,343,000<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>
<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_DebtConversionByUniqueDescriptionAxis=sblk_HeronConvertibleLoanMember', window );">Heron Convertible Loan</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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkSellersMember', window );">Oceanbulk Sellers</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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Loss Contingencies [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>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 50,000<span></span>
</td>
<td class="nump">$ 1,689,000<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>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_CashCollateralForPollutionRelease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 collateral for environmental polution released after being covered by Protection and Idemnity (P&amp;I) Club insurance.</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_CashCollateralForPollutionRelease</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_GainFromWriteOffLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 non-cash gain from the write-off of a liability, relevant to operating 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;">sblk_GainFromWriteOffLiability</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_GainLossOnSaleOfClaim">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amount of gain / (loss) on sale of claim.</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_GainLossOnSaleOfClaim</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_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_LossOffHire">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue loss due to off hire.</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_LossOffHire</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_OffHireDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 time during which the vessel is off-hire.</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_OffHireDays</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>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_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>
</tr>
<tr>
<td style="padding-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_DebtInstrumentConvertibleConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Conversion Rate<br> -URI http://asc.fasb.org/extlink&amp;oid=6509012<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21521-112644<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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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_EscrowDeposit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<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_EscrowDeposit</td>
</tr>
<tr>
<td style="padding-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_ForeignCurrencyExchangeRateTranslation1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Foreign exchange rate used to translate amounts denominated in functional currency to reporting currency.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<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_ForeignCurrencyExchangeRateTranslation1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_LossContingenciesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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_LossContingenciesLineItems</td>
</tr>
<tr>
<td style="padding-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_LossContingencyNameOfDefendant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identifies the named defendant in a lawsuit.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<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_LossContingencyNameOfDefendant</td>
</tr>
<tr>
<td style="padding-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_LossContingencyRangeOfPossibleLossMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 maximum amount of possible loss from the contingency.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<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_LossContingencyRangeOfPossibleLossMaximum</td>
</tr>
<tr>
<td style="padding-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_LossContingencyRangeOfPossibleLossMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 minimum amount of possible loss from the contingency.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<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_LossContingencyRangeOfPossibleLossMinimum</td>
</tr>
<tr>
<td style="padding-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_MalpracticeInsuranceMaximumCoveragePerIncident">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 coverage per malpractice claim provided by the insurance 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 450<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491354&amp;loc=d3e6049-115624<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_MalpracticeInsuranceMaximumCoveragePerIncident</td>
</tr>
<tr>
<td style="padding-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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<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_ProceedsFromSaleOfOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 associated with the sale of other receivables 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<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_ProceedsFromSaleOfOtherReceivables</td>
</tr>
<tr>
<td style="padding-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_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_LitigationStatusAxis=sblk_SpanishPortAuthoritiesFinesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_LitigationStatusAxis=sblk_SpanishPortAuthoritiesFinesMember</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_StarCosmoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StarCosmoMember</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_LitigationStatusAxis=sblk_ArbitrationProceedingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_LitigationStatusAxis=sblk_ArbitrationProceedingsMember</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_DebtConversionByUniqueDescriptionAxis=sblk_HeronConvertibleLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_DebtConversionByUniqueDescriptionAxis=sblk_HeronConvertibleLoanMember</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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>104
<FILENAME>R91.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6781168624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage and Vessel operating expenses - Voyage expenses (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_OperatingExpensesAbstract', window );"><strong>Voyage expenses</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_PortCharges', window );">Port charges</a></td>
<td class="nump">$ 17,619<span></span>
</td>
<td class="nump">$ 5,132<span></span>
</td>
<td class="nump">$ 1,455<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FuelCosts', window );">Bunkers</a></td>
<td class="nump">48,535<span></span>
</td>
<td class="nump">33,146<span></span>
</td>
<td class="nump">4,338<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesCommissionsAndFees', window );">Commissions - third parties</a></td>
<td class="nump">2,915<span></span>
</td>
<td class="nump">1,902<span></span>
</td>
<td class="nump">867<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyCosts', window );">Commissions - related parties (Note 3)</a></td>
<td class="nump">3,350<span></span>
</td>
<td class="nump">1,997<span></span>
</td>
<td class="nump">773<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCostOfOperatingRevenue', window );">Miscellaneous</a></td>
<td class="nump">458<span></span>
</td>
<td class="nump">164<span></span>
</td>
<td class="nump">116<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_VoyageExpenses', window );">Total voyage expenses</a></td>
<td class="nump">$ 72,877<span></span>
</td>
<td class="nump">$ 42,341<span></span>
</td>
<td class="nump">$ 7,549<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_PortCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amounts charged by port authorities for the use of infrastructure.</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_PortCharges</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_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_us-gaap_FuelCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fuel costs incurred that are directly related to goods produced and sold and services rendered 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(a),(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_FuelCosts</td>
</tr>
<tr>
<td style="padding-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_OtherCostOfOperatingRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 costs incurred during the reporting period related to other revenue generating 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_OtherCostOfOperatingRevenue</td>
</tr>
<tr>
<td style="padding-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_RelatedPartyCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Direct costs arising from transactions with related parties who are not affiliates or joint Ventures. These costs are categorized as cost of goods sold.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_RelatedPartyCosts</td>
</tr>
<tr>
<td style="padding-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_SalesCommissionsAndFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 commissioned employees or third parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by third 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>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_SalesCommissionsAndFees</td>
</tr>
<tr>
<td style="padding-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>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>105
<FILENAME>R92.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6807298352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Voyage and Vessel operating expenses - Vessel operating expenses (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_OperatingExpensesAbstract', window );"><strong>Vessel operating expenses</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_SalariesAndWages', window );">Crew wages and related costs</a></td>
<td class="nump">$ 65,402<span></span>
</td>
<td class="nump">$ 29,449<span></span>
</td>
<td class="nump">$ 14,355<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralInsuranceExpense', window );">Insurances</a></td>
<td class="nump">8,026<span></span>
</td>
<td class="nump">4,561<span></span>
</td>
<td class="nump">2,968<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DirectOperatingMaintenanceSuppliesCosts', window );">Maintenance, repairs, spares and stores</a></td>
<td class="nump">18,577<span></span>
</td>
<td class="nump">9,415<span></span>
</td>
<td class="nump">5,772<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_LubricantsExpense', window );">Lubricants</a></td>
<td class="nump">8,187<span></span>
</td>
<td class="nump">3,901<span></span>
</td>
<td class="nump">2,339<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_TonnageTax', window );">Tonnage taxes</a></td>
<td class="nump">3,717<span></span>
</td>
<td class="nump">1,360<span></span>
</td>
<td class="nump">797<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_UpgradingExpense', window );">Upgrading expenses</a></td>
<td class="nump">6,205<span></span>
</td>
<td class="nump">3,167<span></span>
</td>
<td class="nump">205<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCostAndExpenseOperating', window );">Miscellaneous</a></td>
<td class="nump">2,682<span></span>
</td>
<td class="nump">1,243<span></span>
</td>
<td class="nump">651<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_OperatingCostsAndExpenses', window );">Total vessel operating expenses</a></td>
<td class="nump">$ 112,796<span></span>
</td>
<td class="nump">$ 53,096<span></span>
</td>
<td class="nump">$ 27,087<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_LubricantsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 cost of lubricants consumed 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;">sblk_LubricantsExpense</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_TonnageTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 tonnage taxes for 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;">sblk_TonnageTax</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_UpgradingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 upgrading expenses incurred 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;">sblk_UpgradingExpense</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_DirectOperatingMaintenanceSuppliesCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 of maintenance supplies used that are directly related to goods produced and sold, or services rendered, 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(a),(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_DirectOperatingMaintenanceSuppliesCosts</td>
</tr>
<tr>
<td style="padding-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_GeneralInsuranceExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 expense in the period incurred with respect to protection provided by insurance entities against risks other than risks associated with production (which are allocated to cost of sales).</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_GeneralInsuranceExpense</td>
</tr>
<tr>
<td style="padding-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_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_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_OtherCostAndExpenseOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 other operating cost and expense items that are associated with the entity's normal revenue producing 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_OtherCostAndExpenseOperating</td>
</tr>
<tr>
<td style="padding-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_SalariesAndWages">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenditures for salaries other than officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<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_SalariesAndWages</td>
</tr>
<tr>
<td style="padding-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>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>106
<FILENAME>R93.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826002208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Consolidated Statement of Operations (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ (1,793)<span></span>
</td>
<td class="nump">$ 0<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>
<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">(3,268)<span></span>
</td>
<td class="num">(799)<span></span>
</td>
<td class="nump">91<span></span>
</td>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">(2,416)<span></span>
</td>
<td class="num">(1,055)<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">(5,684)<span></span>
</td>
<td class="num">(1,854)<span></span>
</td>
<td class="nump">91<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>
<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">(799)<span></span>
</td>
<td class="nump">91<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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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>
<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">3,443<span></span>
</td>
<td class="nump">0<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">$ (4,918)<span></span>
</td>
<td class="nump">$ 0<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>
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<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>duration</td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80748-113994<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<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>
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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>
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</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_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>
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</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826167968">
<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>Dec. 31, 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_AssetsAbstract', 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_InterestRateDerivativeAssetsAtFairValue', 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="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_DerivativeAssetsNoncurrent', window );">Total</a></td>
<td class="nump">0<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_LiabilitiesAbstract', 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_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest rate swaps - liability position (current and non-current)</a></td>
<td class="nump">807<span></span>
</td>
<td class="nump">7,732<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_DerivativeLiabilities', window );">Total</a></td>
<td class="nump">807<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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', 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_InterestRateDerivativeAssetsAtFairValue', 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="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_DerivativeAssetsNoncurrent', window );">Total</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_LiabilitiesAbstract', 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_InterestRateDerivativeLiabilitiesAtFairValue', window );">Interest rate swaps - liability position (current and non-current)</a></td>
<td class="nump">7,642<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_DerivativeLiabilities', window );">Total</a></td>
<td class="nump">$ 7,642<span></span>
</td>
<td class="nump">$ 0<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 55<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=51825145&amp;loc=SL20226008-175313<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13495-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51824906&amp;loc=SL20225862-175312<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<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>
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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>Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<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_InterestRateDerivativeAssetsAtFairValue</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<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 );">- 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_LiabilitiesAbstract</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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<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>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826168688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Fair value on a nonrecurring basis (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_AssetImpairmentCharges', window );">Impairment loss</a></td>
<td class="nump">$ 321,978<span></span>
</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_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember', window );">Fair Value, Measurements, Nonrecurring</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_AssetImpairmentCharges', window );">Impairment loss</a></td>
<td class="nump">304,163<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_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember', window );">Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2)</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_PropertyPlantAndEquipmentFairValueDisclosure', window );">Property, plant, and equipment, Fair value</a></td>
<td class="nump">295,927<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_VesselsNetMember', window );">Vessels, net | Fair Value, Measurements, Nonrecurring</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_AssetImpairmentCharges', window );">Impairment loss</a></td>
<td class="nump">145,631<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_VesselsNetMember', window );">Vessels, net | Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2)</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_PropertyPlantAndEquipmentFairValueDisclosure', window );">Property, plant, and equipment, Fair value</a></td>
<td class="nump">259,775<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_AdvancesForVesselUnderConstructionMember', window );">Advances for vessels under construction | Fair Value, Measurements, Nonrecurring</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_AssetImpairmentCharges', window );">Impairment loss</a></td>
<td class="nump">158,532<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_AdvancesForVesselUnderConstructionMember', window );">Advances for vessels under construction | Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2)</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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value Measurements [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_PropertyPlantAndEquipmentFairValueDisclosure', window );">Property, plant, and equipment, Fair value</a></td>
<td class="nump">$ 36,152<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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>
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<td><strong> Balance Type:</strong></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 );">- 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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
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<tr>
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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_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsNetMember</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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<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_AdvancesForVesselUnderConstructionMember</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>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>109
<FILENAME>R96.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6853306208">
<tr>
<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="3">12 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>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 01, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 01, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Apr. 28, 2014</div></th>
<th class="th"><div>Sep. 30, 2013</div></th>
<th class="th">
<div>Jun. 30, 2013 </div>
<div>USD ($)</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_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>
<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">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred', window );">Amount expected to be reclassified into earnings</a></td>
<td class="num">$ (578)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">SBLK<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Impairment loss</a></td>
<td class="nump">$ 321,978<span></span>
</td>
<td class="nump">$ 0<span></span>
</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>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment loss of assets held for use</a></td>
<td class="nump">102,578<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ImpairmentOfLongLivedAssetsToBeDisposedOf', window );">Impairment loss of disposed assets</a></td>
<td class="nump">$ 219,400<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>
</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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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>
<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="text">&#160;<span></span>
</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<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_NumberOfLoanTranches', window );">Number of loan tranches</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>
<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_HshNordbankAgMember', window );">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>
<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>
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<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_PercentageOfDebtHedgedByInterestRateDerivatives', window );">Percentage of debt hedged by interest rate swap agreement</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">50.00%<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_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>
<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="nump">$ 15,385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.765%<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 | Credit Agricole Corporate and Investment Bank $70,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">Aug.  09,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative asset, Notional amount</a></td>
<td class="nump">$ 24,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 26,840<span></span>
</td>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">1.705%<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_Tranche2Member', window );">Tranche B | Credit Agricole Corporate and Investment Bank $70,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">Nov.  09,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative asset, Notional amount</a></td>
<td class="nump">$ 26,130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">$ 28,628<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">1.72%<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_CounterpartyNameAxis=sblk_GoldmanSachsBankUSAMember', window );">Goldman Sachs</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>
</tr>
<tr class="ro">
<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>
<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_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="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>
</tr>
<tr class="ro">
<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">Apr.  01,  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>
<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="nump">$ 451,426<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="nump">$ 186,307<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_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="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>
</tr>
<tr class="re">
<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="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>
</tr>
<tr class="ro">
<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 income / (loss) - Interest rate swaps</a></td>
<td class="nump">1,261<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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>
<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>
<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_NotesPayableFairValueDisclosure', window );">8.00% 2019 Notes fair value</a></td>
<td class="nump">$ 24,000<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="rh">
<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>
<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>
<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_TradingSymbol', window );">Trading Symbol</a></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>
<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_OperatingVesselsSoldAndDeliveredMember', window );">Operating vessels sold and delivered</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>
</tr>
<tr class="ro">
<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>
<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_ImpairmentOfLongLivedAssetsToBeDisposedOf', window );">Impairment loss of disposed assets</a></td>
<td class="nump">$ 17,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OperatingVesselsSoldButNotYetDeliveredMember', window );">Operating vessels sold but not yet delivered</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>
</tr>
<tr class="re">
<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>
<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 );">Impairment loss of disposed assets</a></td>
<td class="nump">$ 201,585<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80784-113994<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579245-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Notional Amount<br> -URI http://asc.fasb.org/extlink&amp;oid=6519104<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5580258-113959<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_DerivativeAssetNotionalAmount</td>
</tr>
<tr>
<td style="padding-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>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_DerivativeFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeFixedInterestRate</td>
</tr>
<tr>
<td style="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_DerivativeHigherFixedInterestRateRange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeHigherFixedInterestRateRange</td>
</tr>
<tr>
<td style="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_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>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred</td>
</tr>
<tr>
<td style="padding-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_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_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>
</tr>
<tr>
<td style="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_DerivativeMaturityDates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
<td style="white-space:nowrap;">us-gaap_DerivativeMaturityDates</td>
</tr>
<tr>
<td style="padding-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_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 use (including those held for disposal by means other than 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<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_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2611-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20,22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<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>
</tr>
<tr>
<td style="padding-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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5580258-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5579245-113959<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</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_PercentageOfDebtHedgedByInterestRateDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 an entity's outstanding debt that is designated as a hedged item in cash flow, fair value, or net investment hedge.</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_PercentageOfDebtHedgedByInterestRateDerivatives</td>
</tr>
<tr>
<td style="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_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_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_CreditFacilityAxis=sblk_Tranche1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche1Member</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_CreditFacilityAxis=sblk_Tranche2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CreditFacilityAxis=sblk_Tranche2Member</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_CounterpartyNameAxis=sblk_GoldmanSachsBankUSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_CounterpartyNameAxis=sblk_GoldmanSachsBankUSAMember</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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FairValueInputsLevel1Member</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_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_Issuance50MillionNotesMember</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_OperatingVesselsSoldAndDeliveredMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_OperatingVesselsSoldAndDeliveredMember</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_OperatingVesselsSoldButNotYetDeliveredMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_OperatingVesselsSoldButNotYetDeliveredMember</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>110
<FILENAME>R97.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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6964364944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details)<br> $ in Thousands</strong></div></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="2">1 Months Ended</th>
<th class="th" colspan="4">2 Months Ended</th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 15, 2016</div></th>
<th class="th"><div>Jan. 08, 2016</div></th>
<th class="th"><div>Jan. 07, 2016</div></th>
<th class="th"><div>Jan. 06, 2016</div></th>
<th class="th">
<div>Feb. 03, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Jan. 26, 2016</div></th>
<th class="th"><div>Mar. 11, 2016</div></th>
<th class="th">
<div>Mar. 02, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Feb. 29, 2016</div></th>
<th class="th"><div>Feb. 26, 2016</div></th>
<th class="th"><div>Mar. 16, 2016</div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Jan. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Repayments of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 244,529<span></span>
</td>
<td class="nump">$ 173,986<span></span>
</td>
<td class="nump">$ 33,780<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_NumberOfVessels', 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="nump">70<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_VesselsSalesMember', window );">Sale 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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VesselsAndAdvancesForVesselsUnderConstructionNet', window );">Operating and newbuilding vessels, 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="nump">$ 176,336<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_TsuEbisuMember', window );">Tsu Ebisu</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">July 11, 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>
</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="nump">81,001<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_TsuEbisuMember', window );">Tsu Ebisu | Subsequent Event</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal 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">Feb.  03,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_TsuEbisuMember', window );">Tsu Ebisu | HSBC $20,000 Dioriga Facility | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RepaymentsOfDebt', window );">Repayments of debt</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">$ 17,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MagnumOpusMember', window );">Magnum Opus</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">July 11, 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>
</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="nump">81,022<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_MagnumOpusMember', window );">Magnum Opus | Subsequent Event</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal 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.  02,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MagnumOpusMember', window );">Magnum Opus | Deutsche Bank $85,000 Facility | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RepaymentsOfDebt', window );">Repayments of debt</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="nump">$ 18,000<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="rh">
<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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">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>
</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="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>
</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 | Subsequent Event</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal 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">Mar. 16,  2016<span></span>
</td>
<td class="text">&#160;<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_BehemothMember', window );">Behemoth | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan. 07, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan.  07,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">182,000<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>
<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_BrunoMarksMember', window );">Bruno Marks | Subsequent Event</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">Jan. 11, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal Date</a></td>
<td class="text">Jan. 15,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">182,000<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MegalodonMember', window );">Megalodon | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">Jan. 26, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal 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">Jan. 26,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">182,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAriesMember', window );">Star Aries | Subsequent Event</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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. 29, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DisposalDate1', window );">Disposal 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. 29,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">180,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLutasMember', window );">Star Lutas | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">Jan. 06, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">61,000<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>
<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_KennadiMember', window );">Kennadi | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan. 08, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StarPoseidonMember', window );">Star Poseidon | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">Feb. 26, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">209,000<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_PropertyPlantAndEquipmentByTypeAxis=sblk_MackenzieMember', window );">Mackenzie | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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. 02, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="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>
<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_StarMarisaMember', window );">Star Marisa | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeliveryDateVessel', window );">Date Delivered to Star Bulk</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">Mar. 11, 2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CapesizeVesselsMember', window );">Capesize vessels | Pool agreement ("CCL") | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVessels', 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="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_PropertyPlantAndEquipmentByTypeAxis=sblk_CapesizeVesselsMember', window );">Capesize vessels | Star Bulk Carriers Corp., Bocimar International NV, Golden Ocean Group Limited and C Transport Holding Ltd | Subsequent Event</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>
</tr>
<tr class="ro">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfVessels', 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="nump">65<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_ShipbuildingContractsTerminationMember', window );">Shipbuilding contracts termination | Subsequent Event</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>
</tr>
<tr class="re">
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NumberOfNewbuildingContractsTerminated', window );">Number of newbuilding contracts terminated</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">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>
<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_NumberOfNewbuildingContractsTerminated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 newbuilding contracts terminated.</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_NumberOfNewbuildingContractsTerminated</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_NumberOfVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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_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_VesselsAndAdvancesForVesselsUnderConstructionNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Agreegate amount after accumulated depreciation of operating vessels and advances for newbuilding 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_VesselsAndAdvancesForVesselsUnderConstructionNet</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_DisposalDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 entity disposed of a business or a group of assets, 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_DisposalDate1</td>
</tr>
<tr>
<td style="padding-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_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>
</tr>
<tr>
<td style="padding-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_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_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsSalesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_VesselsSalesMember</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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</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>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>112
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
